Meeder Asset Management Inc. Invests $10.21 Million in Huntington Ingalls Industries, Inc. $HII

Meeder Asset Management Inc. bought a new position in shares of Huntington Ingalls Industries, Inc. (NYSE:HII) in the 2nd quarter, HoldingsChannel reports. The institutional investor bought 36,498 shares of the aerospace company’s stock, valued at approximately $10,215,000.

Several other hedge funds also recently added to or reduced their stakes in the business. Bayban acquired a new stake in Huntington Ingalls Industries during the 1st quarter worth about $27,000. NBC Securities Inc. lifted its holdings in shares of Huntington Ingalls Industries by 87.2% in the 4th quarter. NBC Securities Inc. now owns 88 shares of the aerospace company’s stock valued at $30,000 after buying an additional 41 shares during the period. Cassaday & Co Wealth Management LLC acquired a new position in shares of Huntington Ingalls Industries in the 1st quarter valued at about $36,000. CYBER HORNET ETFs LLC purchased a new stake in shares of Huntington Ingalls Industries in the second quarter worth about $25,000. Finally, Rakuten Securities Inc. boosted its stake in shares of Huntington Ingalls Industries by 140.0% in the second quarter. Rakuten Securities Inc. now owns 108 shares of the aerospace company’s stock worth $26,000 after buying an additional 63 shares during the last quarter. 90.46% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, VP Edmond E. Jr. Hughes sold 3,500 shares of the stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $319.58, for a total value of $1,118,530.00. Following the completion of the sale, the vice president directly owned 8,391 shares in the company, valued at $2,681,595.78. This represents a 29.43% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Christopher D. Kastner sold 13,070 shares of the stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $324.92, for a total transaction of $4,246,704.40. Following the completion of the sale, the chief executive officer owned 11,224 shares of the company’s stock, valued at approximately $3,646,902.08. The trade was a 53.80% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.80% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

HII has been the subject of several recent research reports. Weiss Ratings reiterated a “hold (c+)” rating on shares of Huntington Ingalls Industries in a research report on Monday, August 3rd. TD Cowen lowered their price objective on Huntington Ingalls Industries from $420.00 to $360.00 and set a “buy” rating on the stock in a research report on Monday, July 13th. Citigroup raised their price objective on shares of Huntington Ingalls Industries from $349.00 to $379.00 and gave the stock a “buy” rating in a research note on Friday, July 31st. Wells Fargo & Company lifted their target price on shares of Huntington Ingalls Industries from $325.00 to $340.00 and gave the company an “equal weight” rating in a report on Tuesday, August 4th. Finally, Wall Street Zen cut shares of Huntington Ingalls Industries from a “buy” rating to a “hold” rating in a research note on Monday, May 18th. Five equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $378.88.

Huntington Ingalls Industries Price Performance

NYSE:HII opened at $318.46 on Tuesday. The company has a quick ratio of 1.14, a current ratio of 1.23 and a debt-to-equity ratio of 0.51. Huntington Ingalls Industries, Inc. has a 52 week low of $262.66 and a 52 week high of $460.00. The stock’s 50-day moving average price is $295.40 and its 200-day moving average price is $351.51. The stock has a market capitalization of $12.55 billion, a PE ratio of 18.98, a price-to-earnings-growth ratio of 1.25 and a beta of 0.24.

Huntington Ingalls Industries (NYSE:HII) last released its quarterly earnings results on Thursday, July 30th. The aerospace company reported $5.27 earnings per share for the quarter, topping analysts’ consensus estimates of $3.79 by $1.48. The company had revenue of $3.42 billion during the quarter, compared to analysts’ expectations of $3.15 billion. Huntington Ingalls Industries had a return on equity of 12.89% and a net margin of 5.01%.Huntington Ingalls Industries’s quarterly revenue was up 10.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.86 EPS. As a group, equities analysts expect that Huntington Ingalls Industries, Inc. will post 18.19 EPS for the current fiscal year.

Huntington Ingalls Industries Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Stockholders of record on Friday, August 28th will be paid a dividend of $1.38 per share. The ex-dividend date of this dividend is Friday, August 28th. This represents a $5.52 dividend on an annualized basis and a dividend yield of 1.7%. Huntington Ingalls Industries’s payout ratio is currently 32.90%.

Huntington Ingalls Industries Profile

Huntington Ingalls Industries (NYSE: HII) is America’s largest military shipbuilding company and a leading provider of professional services to the U.S. government. Headquartered in Newport News, Virginia, HII designs, constructs and maintains nuclear-powered aircraft carriers, submarines and other complex vessels for the U.S. Navy. The company’s products include nuclear aircraft carriers, Virginia-class and Columbia-class submarines, as well as amphibious assault ships, destroyers and cutters.

Established in 2011 as a spin-off from Northrop Grumman’s shipbuilding operations, HII traces its heritage to two historic builders: Newport News Shipbuilding, founded in the 19th century, and Ingalls Shipbuilding, founded in 1938.