Needham Investment Management LLC Reduces Stake in Huntington Ingalls Industries, Inc. $HII

Needham Investment Management LLC reduced its position in Huntington Ingalls Industries, Inc. (NYSE:HII) by 7.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 50,500 shares of the aerospace company’s stock after selling 4,000 shares during the period. Needham Investment Management LLC’s holdings in Huntington Ingalls Industries were worth $17,174,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of HII. Geneos Wealth Management Inc. boosted its stake in shares of Huntington Ingalls Industries by 40.1% in the 1st quarter. Geneos Wealth Management Inc. now owns 206 shares of the aerospace company’s stock worth $42,000 after buying an additional 59 shares during the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of Huntington Ingalls Industries by 329.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 365 shares of the aerospace company’s stock worth $88,000 after buying an additional 280 shares during the last quarter. Marshall Wace LLP boosted its stake in shares of Huntington Ingalls Industries by 432.1% in the 2nd quarter. Marshall Wace LLP now owns 38,144 shares of the aerospace company’s stock worth $9,210,000 after buying an additional 30,975 shares during the last quarter. Cresset Asset Management LLC boosted its stake in shares of Huntington Ingalls Industries by 23.0% in the 2nd quarter. Cresset Asset Management LLC now owns 1,575 shares of the aerospace company’s stock worth $381,000 after buying an additional 294 shares during the last quarter. Finally, Jump Financial LLC purchased a new position in shares of Huntington Ingalls Industries in the 2nd quarter worth $398,000. 90.46% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Huntington Ingalls Industries

In other news, VP Edmond E. Jr. Hughes sold 3,500 shares of the business’s stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $319.58, for a total value of $1,118,530.00. Following the transaction, the vice president directly owned 8,391 shares in the company, valued at $2,681,595.78. The trade was a 29.43% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.80% of the stock is owned by insiders.

Analyst Ratings Changes

HII has been the topic of several analyst reports. Wells Fargo & Company initiated coverage on Huntington Ingalls Industries in a research report on Wednesday, April 1st. They set an “equal weight” rating and a $400.00 target price on the stock. Citigroup lowered their target price on Huntington Ingalls Industries from $441.00 to $405.00 and set a “buy” rating on the stock in a research report on Monday, May 18th. TD Cowen lowered their target price on Huntington Ingalls Industries from $460.00 to $420.00 and set a “buy” rating on the stock in a research report on Thursday, May 14th. Wall Street Zen downgraded Huntington Ingalls Industries from a “buy” rating to a “hold” rating in a research report on Monday, May 18th. Finally, Weiss Ratings downgraded Huntington Ingalls Industries from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, May 6th. Four research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat, Huntington Ingalls Industries presently has an average rating of “Hold” and an average price target of $388.50.

Huntington Ingalls Industries Price Performance

Shares of Huntington Ingalls Industries stock opened at $299.74 on Tuesday. The stock’s 50-day simple moving average is $341.55 and its 200-day simple moving average is $371.27. Huntington Ingalls Industries, Inc. has a 52 week low of $226.75 and a 52 week high of $460.00. The company has a market capitalization of $11.81 billion, a price-to-earnings ratio of 19.50, a PEG ratio of 1.26 and a beta of 0.23. The company has a quick ratio of 1.11, a current ratio of 1.19 and a debt-to-equity ratio of 0.52.

Huntington Ingalls Industries (NYSE:HII) last announced its quarterly earnings data on Tuesday, May 5th. The aerospace company reported $3.79 EPS for the quarter, beating the consensus estimate of $3.70 by $0.09. Huntington Ingalls Industries had a return on equity of 12.05% and a net margin of 4.71%.The business had revenue of $3.10 billion for the quarter, compared to the consensus estimate of $3.02 billion. During the same period in the previous year, the business earned $3.79 earnings per share. The business’s revenue was up 13.4% on a year-over-year basis. As a group, analysts expect that Huntington Ingalls Industries, Inc. will post 17.32 earnings per share for the current fiscal year.

Huntington Ingalls Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 12th. Stockholders of record on Friday, May 29th were given a $1.38 dividend. This represents a $5.52 annualized dividend and a dividend yield of 1.8%. The ex-dividend date was Friday, May 29th. Huntington Ingalls Industries’s payout ratio is presently 35.91%.

About Huntington Ingalls Industries

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.