Los Angeles Capital Management & Equity Research Inc. Invests $3.44 Million in Huntington Ingalls Industries Inc (NYSE:HII)

Los Angeles Capital Management & Equity Research Inc. bought a new position in Huntington Ingalls Industries Inc (NYSE:HII) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 15,203 shares of the aerospace company’s stock, valued at approximately $3,443,000.

Other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. raised its stake in shares of Huntington Ingalls Industries by 2.7% in the second quarter. BlackRock Inc. now owns 4,572,209 shares of the aerospace company’s stock valued at $851,165,000 after acquiring an additional 120,171 shares during the period. State Street Corp grew its holdings in shares of Huntington Ingalls Industries by 0.4% in the second quarter. State Street Corp now owns 2,921,169 shares of the aerospace company’s stock worth $543,803,000 after purchasing an additional 12,014 shares during the last quarter. FMR LLC grew its holdings in shares of Huntington Ingalls Industries by 4.1% in the second quarter. FMR LLC now owns 2,881,190 shares of the aerospace company’s stock worth $536,363,000 after purchasing an additional 114,098 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of Huntington Ingalls Industries by 6.1% in the second quarter. Goldman Sachs Group Inc. now owns 928,427 shares of the aerospace company’s stock worth $172,836,000 after purchasing an additional 53,288 shares during the last quarter. Finally, Wells Fargo & Company MN grew its holdings in shares of Huntington Ingalls Industries by 6.9% in the second quarter. Wells Fargo & Company MN now owns 732,828 shares of the aerospace company’s stock worth $136,423,000 after purchasing an additional 47,379 shares during the last quarter. 84.23% of the stock is currently owned by institutional investors.

In other Huntington Ingalls Industries news, VP D R. Wyatt sold 800 shares of the firm’s stock in a transaction that occurred on Monday, November 13th. The shares were sold at an average price of $240.33, for a total transaction of $192,264.00. Following the completion of the transaction, the vice president now directly owns 19,065 shares of the company’s stock, valued at approximately $4,581,891.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Philip M. Bilden purchased 2,200 shares of Huntington Ingalls Industries stock in a transaction on Friday, November 24th. The shares were acquired at an average cost of $234.11 per share, with a total value of $515,042.00. The disclosure for this purchase can be found here. Company insiders own 2.22% of the company’s stock.

Shares of Huntington Ingalls Industries Inc (NYSE HII) traded up $2.21 during trading on Thursday, hitting $235.86. 203,476 shares of the company traded hands, compared to its average volume of 327,797. The stock has a market cap of $10,536.37, a price-to-earnings ratio of 19.37, a P/E/G ratio of 1.29 and a beta of 1.17. The company has a quick ratio of 1.38, a current ratio of 1.52 and a debt-to-equity ratio of 0.75. Huntington Ingalls Industries Inc has a 52-week low of $174.07 and a 52-week high of $253.44.

Huntington Ingalls Industries (NYSE:HII) last announced its quarterly earnings data on Wednesday, November 8th. The aerospace company reported $3.27 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.78 by $0.49. The firm had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.80 billion. Huntington Ingalls Industries had a net margin of 8.31% and a return on equity of 33.37%. Huntington Ingalls Industries’s revenue was up 10.7% on a year-over-year basis. During the same period last year, the firm posted $2.27 EPS. analysts anticipate that Huntington Ingalls Industries Inc will post 12.01 EPS for the current year.

Huntington Ingalls Industries declared that its board has initiated a share repurchase program on Tuesday, November 7th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the aerospace company to purchase shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s management believes its stock is undervalued.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 8th. Investors of record on Friday, November 24th will be given a $0.72 dividend. This is a positive change from Huntington Ingalls Industries’s previous quarterly dividend of $0.60. This represents a $2.88 annualized dividend and a dividend yield of 1.22%. The ex-dividend date of this dividend is Wednesday, November 22nd. Huntington Ingalls Industries’s dividend payout ratio (DPR) is presently 21.75%.

A number of research analysts have recently commented on HII shares. Deutsche Bank restated a “buy” rating and issued a $240.00 price target (up from $230.00) on shares of Huntington Ingalls Industries in a report on Wednesday, August 9th. Cowen reiterated a “hold” rating and set a $210.00 target price on shares of Huntington Ingalls Industries in a report on Tuesday, August 22nd. BidaskClub cut shares of Huntington Ingalls Industries from a “buy” rating to a “hold” rating in a report on Wednesday, August 23rd. ValuEngine upgraded shares of Huntington Ingalls Industries from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Finally, Citigroup restated a “neutral” rating and issued a $233.00 price target (up from $224.00) on shares of Huntington Ingalls Industries in a report on Monday, October 9th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $222.57.

COPYRIGHT VIOLATION WARNING: “Los Angeles Capital Management & Equity Research Inc. Invests $3.44 Million in Huntington Ingalls Industries Inc (NYSE:HII)” was reported by The Lincolnian Online and is the sole property of of The Lincolnian Online. If you are viewing this piece of content on another publication, it was illegally stolen and reposted in violation of US & international copyright law. The correct version of this piece of content can be viewed at https://www.thelincolnianonline.com/2017/12/07/los-angeles-capital-management-equity-research-inc-acquires-new-stake-in-huntington-ingalls-industries-inc-hii-updated-updated.html.

About Huntington Ingalls Industries

Huntington Ingalls Industries, Inc is a military shipbuilding company and a provider of professional services to partners in government and industry. The Company’s business consists of the design, construction, repair and maintenance of nuclear-powered ships and non-nuclear ships for the United States Navy and coastal defense surface ships for the United States Coast Guard, as well as the refueling and overhaul and inactivation of nuclear-powered ships for the United States Navy.

Institutional Ownership by Quarter for Huntington Ingalls Industries (NYSE:HII)

Receive News & Ratings for Huntington Ingalls Industries Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Huntington Ingalls Industries Inc and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply