Van ECK Associates Corp Sells 46,745 Shares of Huntington Ingalls Industries, Inc. $HII

Van ECK Associates Corp lowered its position in Huntington Ingalls Industries, Inc. (NYSE:HII) by 4.4% during the second quarter, Holdings Channel reports. The institutional investor owned 1,027,501 shares of the aerospace company’s stock after selling 46,745 shares during the quarter. Van ECK Associates Corp’s holdings in Huntington Ingalls Industries were worth $287,587,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of HII. Geneos Wealth Management Inc. increased its position in shares of Huntington Ingalls Industries by 40.1% during the first quarter. Geneos Wealth Management Inc. now owns 206 shares of the aerospace company’s stock worth $42,000 after purchasing an additional 59 shares in the last quarter. EverSource Wealth Advisors LLC lifted its stake in shares of Huntington Ingalls Industries by 329.4% during the second 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 period. Marshall Wace LLP increased its position 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 valued at $9,210,000 after acquiring an additional 30,975 shares during the period. Cresset Asset Management LLC raised its stake in 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 acquiring an additional 294 shares during the last quarter. Finally, Jump Financial LLC acquired a new stake in Huntington Ingalls Industries during the 2nd quarter worth about $398,000. Institutional investors own 90.46% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on HII shares. Wells Fargo & Company boosted their price target on Huntington Ingalls Industries from $325.00 to $340.00 and gave the company an “equal weight” rating in a research note on Tuesday, August 4th. Wall Street Zen lowered shares of Huntington Ingalls Industries from a “buy” rating to a “hold” rating in a research report on Monday, May 18th. Weiss Ratings cut shares of Huntington Ingalls Industries from a “hold (c+)” rating to a “hold (c)” rating in a research note on Monday, August 17th. Wolfe Research raised shares of Huntington Ingalls Industries from a “peer perform” rating to an “outperform” rating and set a $364.00 price objective on the stock in a report on Friday, July 31st. Finally, TD Cowen cut their price objective on shares of Huntington Ingalls Industries from $420.00 to $360.00 and set a “buy” rating on the stock in a research note on Monday, July 13th. Five investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $368.88.

Huntington Ingalls Industries Trading Down 1.1%

Shares of NYSE:HII opened at $294.09 on Friday. The company has a current ratio of 1.23, a quick ratio of 1.14 and a debt-to-equity ratio of 0.51. Huntington Ingalls Industries, Inc. has a 12-month low of $263.62 and a 12-month high of $460.00. The business has a 50 day moving average of $296.49 and a two-hundred day moving average of $344.86. The company has a market capitalization of $11.59 billion, a PE ratio of 17.53, a PEG ratio of 1.12 and a beta of 0.24.

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

Huntington Ingalls Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 11th. Shareholders of record on Friday, August 28th will be issued a $1.38 dividend. The ex-dividend date of this dividend is Friday, August 28th. This represents a $5.52 dividend on an annualized basis and a yield of 1.9%. Huntington Ingalls Industries’s payout ratio is presently 32.90%.

Insider Buying and Selling at Huntington Ingalls Industries

In other Huntington Ingalls Industries news, CEO Christopher D. Kastner sold 13,070 shares of the company’s stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $324.92, for a total value of $4,246,704.40. Following the completion of the transaction, the chief executive officer owned 11,224 shares in the company, valued at approximately $3,646,902.08. This represents a 53.80% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.80% of the company’s stock.

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.