Ieq Capital LLC Cuts Holdings in Huntington Ingalls Industries, Inc. $HII

Ieq Capital LLC decreased its holdings in Huntington Ingalls Industries, Inc. (NYSE:HII) by 71.1% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 18,548 shares of the aerospace company’s stock after selling 45,742 shares during the quarter. Ieq Capital LLC’s holdings in Huntington Ingalls Industries were worth $5,191,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. Bayban purchased a new stake in shares of Huntington Ingalls Industries during the 1st quarter worth $27,000. NBC Securities Inc. boosted its position in Huntington Ingalls Industries by 87.2% during the fourth quarter. NBC Securities Inc. now owns 88 shares of the aerospace company’s stock valued at $30,000 after purchasing an additional 41 shares in the last quarter. Cassaday & Co Wealth Management LLC purchased a new position in Huntington Ingalls Industries in the first quarter valued at about $36,000. CYBER HORNET ETFs LLC purchased a new position in Huntington Ingalls Industries in the second quarter valued at about $25,000. Finally, Rakuten Securities Inc. raised its holdings in 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 purchasing an additional 63 shares in the last quarter. Hedge funds and other institutional investors own 90.46% of the company’s stock.

Huntington Ingalls Industries Price Performance

NYSE HII opened at $298.58 on Monday. Huntington Ingalls Industries, Inc. has a 1 year low of $263.62 and a 1 year high of $460.00. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.23 and a quick ratio of 1.14. The company has a market cap of $11.76 billion, a price-to-earnings ratio of 17.79, a PEG ratio of 1.12 and a beta of 0.24. The stock’s fifty day moving average price is $296.32 and its 200 day moving average price is $348.25.

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

Huntington Ingalls Industries Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Shareholders of record on Friday, August 28th will be paid a dividend of $1.38 per share. This represents a $5.52 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend is Friday, August 28th. Huntington Ingalls Industries’s payout ratio is 32.90%.

Insider Buying and Selling at Huntington Ingalls Industries

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

Analyst Upgrades and Downgrades

HII has been the topic of a number of analyst reports. Wells Fargo & Company lifted their price objective on shares of Huntington Ingalls Industries from $325.00 to $340.00 and gave the stock an “equal weight” rating in a research report on Tuesday, August 4th. Citigroup raised their target price on shares of Huntington Ingalls Industries from $349.00 to $379.00 and gave the company a “buy” rating in a research note on Friday, July 31st. Weiss Ratings lowered shares of Huntington Ingalls Industries from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday, August 17th. Wolfe Research raised Huntington Ingalls Industries from a “peer perform” rating to an “outperform” rating and set a $364.00 price target on the stock in a research report on Friday, July 31st. Finally, TD Cowen decreased their price objective 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. Five investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, Huntington Ingalls Industries has an average rating of “Moderate Buy” and an average target price of $378.88.

Huntington Ingalls Industries Company 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.