VIRGINIA RETIREMENT SYSTEMS ET Al Invests $2.38 Million in Huntington Ingalls Industries, Inc. $HII

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in Huntington Ingalls Industries, Inc. (NYSE:HII) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 8,490 shares of the aerospace company’s stock, valued at approximately $2,376,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Personal CFO Solutions LLC increased its holdings in shares of Huntington Ingalls Industries by 3.7% in the 1st quarter. Personal CFO Solutions LLC now owns 775 shares of the aerospace company’s stock valued at $294,000 after acquiring an additional 28 shares during the last quarter. Intrust Bank NA boosted its holdings in Huntington Ingalls Industries by 4.5% in the fourth quarter. Intrust Bank NA now owns 821 shares of the aerospace company’s stock worth $279,000 after purchasing an additional 35 shares during the period. Whittier Trust Co. increased its stake in Huntington Ingalls Industries by 2.5% during the first quarter. Whittier Trust Co. now owns 1,532 shares of the aerospace company’s stock valued at $625,000 after purchasing an additional 38 shares during the last quarter. New York Life Investment Management LLC raised its holdings in shares of Huntington Ingalls Industries by 0.8% during the fourth quarter. New York Life Investment Management LLC now owns 5,307 shares of the aerospace company’s stock worth $1,805,000 after purchasing an additional 42 shares during the period. Finally, Oregon Public Employees Retirement Fund raised its holdings in shares of Huntington Ingalls Industries by 1.0% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 4,487 shares of the aerospace company’s stock worth $1,526,000 after purchasing an additional 44 shares during the period. 90.46% of the stock is owned by institutional investors.

Insider Buying and Selling at Huntington Ingalls Industries

In other news, CEO Christopher Kastner sold 13,070 shares of Huntington Ingalls Industries stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $324.92, for a total transaction of $4,246,704.40. Following 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.80% of the company’s stock.

Huntington Ingalls Industries Stock Up 0.4%

Huntington Ingalls Industries stock opened at $281.94 on Friday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.14 and a current ratio of 1.23. Huntington Ingalls Industries, Inc. has a one year low of $263.62 and a one year high of $460.00. The company has a 50-day simple moving average of $297.61 and a 200-day simple moving average of $336.15. The firm has a market capitalization of $11.11 billion, a P/E ratio of 16.80, a P/E/G ratio of 1.06 and a beta of 0.23.

Huntington Ingalls Industries (NYSE:HII) last issued its quarterly earnings data on Thursday, July 30th. The aerospace company reported $5.27 earnings per share for the quarter, beating the consensus estimate of $3.79 by $1.48. The firm had revenue of $3.42 billion for the quarter, compared to the consensus estimate of $3.15 billion. Huntington Ingalls Industries had a net margin of 5.01% and a return on equity of 12.89%. Huntington Ingalls Industries’s quarterly revenue was up 10.9% compared to the same quarter last year. During the same period last year, the firm posted $3.86 EPS. As a group, equities analysts expect that Huntington Ingalls Industries, Inc. will post 18.47 earnings per share for the current year.

Huntington Ingalls Industries Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 11th. Shareholders of record on Friday, August 28th will be paid a $1.38 dividend. The ex-dividend date is Friday, August 28th. This represents a $5.52 annualized dividend and a dividend yield of 2.0%. Huntington Ingalls Industries’s dividend payout ratio (DPR) is presently 32.90%.

Wall Street Analysts Forecast Growth

HII has been the subject of several research reports. Wall Street Zen lowered shares of Huntington Ingalls Industries from a “buy” rating to a “hold” rating in a report on Monday, May 18th. Citigroup raised their target price on shares of Huntington Ingalls Industries from $349.00 to $379.00 and gave the stock a “buy” rating in a report on Friday, July 31st. Wolfe Research upgraded Huntington Ingalls Industries from a “peer perform” rating to an “outperform” rating and set a $364.00 target price for the company in a research note on Friday, July 31st. TD Cowen lowered their target price on Huntington Ingalls Industries from $420.00 to $360.00 and set a “buy” rating for the company in a report on Monday, July 13th. Finally, Sanford C. Bernstein set a $341.00 price target on Huntington Ingalls Industries in a research report on Tuesday, August 25th. Five research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $368.88.

Huntington Ingalls Industries Company Profile

Huntington Ingalls Industries, Inc (NYSE:HII) is a U.S. defense company focused on designing, building, modernizing and maintaining military ships and providing technology services to government customers. It is the largest military shipbuilding company in the United States and one of the few companies capable of designing and constructing nuclear-powered aircraft carriers and submarines.

HII operates through three primary businesses: Newport News Shipbuilding, Ingalls Shipbuilding and Mission Technologies.