Huntington Ingalls Industries, Inc. $HII Shares Sold by HITE Hedge Asset Management LLC

HITE Hedge Asset Management LLC decreased its holdings in Huntington Ingalls Industries, Inc. (NYSE:HII) by 21.6% in the 3rd quarter, HoldingsChannel reports. The firm owned 23,892 shares of the aerospace company’s stock after selling 6,578 shares during the quarter. HITE Hedge Asset Management LLC’s holdings in Huntington Ingalls Industries were worth $6,879,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the business. CYBER HORNET ETFs LLC purchased a new stake in Huntington Ingalls Industries during the 2nd quarter worth approximately $25,000. Rakuten Securities Inc. boosted its position in Huntington Ingalls Industries by 140.0% in the 2nd quarter. Rakuten Securities Inc. now owns 108 shares of the aerospace company’s stock valued at $26,000 after buying an additional 63 shares during the period. Versant Capital Management Inc boosted its position in Huntington Ingalls Industries by 120.0% in the 3rd quarter. Versant Capital Management Inc now owns 110 shares of the aerospace company’s stock valued at $32,000 after buying an additional 60 shares during the period. Anchor Investment Management LLC boosted its position in Huntington Ingalls Industries by 400.0% in the 2nd quarter. Anchor Investment Management LLC now owns 125 shares of the aerospace company’s stock valued at $30,000 after buying an additional 100 shares during the period. Finally, Root Financial Partners LLC acquired a new position in shares of Huntington Ingalls Industries in the third quarter worth $36,000. Institutional investors and hedge funds own 90.46% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on HII. The Goldman Sachs Group upped their price objective on Huntington Ingalls Industries from $384.00 to $425.00 and gave the stock a “buy” rating in a research report on Tuesday, January 20th. Melius Research upgraded Huntington Ingalls Industries from a “hold” rating to a “buy” rating in a report on Monday, January 5th. Bank of America raised Huntington Ingalls Industries from an “underperform” rating to a “neutral” rating and boosted their target price for the stock from $300.00 to $400.00 in a research note on Thursday, February 12th. Citigroup upped their price target on Huntington Ingalls Industries from $450.00 to $465.00 and gave the stock a “buy” rating in a report on Tuesday, February 10th. Finally, TD Cowen increased their price target on Huntington Ingalls Industries from $440.00 to $460.00 and gave the company a “buy” rating in a research report on Friday, March 6th. Five equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $384.13.

Insider Transactions at Huntington Ingalls Industries

In other news, EVP Eric D. Chewning sold 1,700 shares of the company’s stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $433.44, for a total transaction of $736,848.00. Following the completion of the transaction, the executive vice president directly owned 1,949 shares of the company’s stock, valued at approximately $844,774.56. This represents a 46.59% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Chad N. Boudreaux sold 4,400 shares of the stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $422.45, for a total value of $1,858,780.00. Following the completion of the transaction, the vice president owned 20,360 shares in the company, valued at approximately $8,601,082. The trade was a 17.77% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.72% of the stock is owned by insiders.

Huntington Ingalls Industries Trading Up 0.2%

Shares of NYSE:HII opened at $414.44 on Friday. Huntington Ingalls Industries, Inc. has a 52 week low of $177.42 and a 52 week high of $460.00. The company’s 50 day moving average is $415.01 and its two-hundred day moving average is $340.41. The company has a market cap of $16.26 billion, a PE ratio of 26.96, a P/E/G ratio of 1.69 and a beta of 0.32. The company has a current ratio of 1.13, a quick ratio of 1.06 and a debt-to-equity ratio of 0.53.

Huntington Ingalls Industries (NYSE:HII) last released its quarterly earnings data on Thursday, February 5th. The aerospace company reported $4.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.72 by $0.32. The business had revenue of $3.48 billion during the quarter, compared to analysts’ expectations of $3.09 billion. Huntington Ingalls Industries had a net margin of 4.85% and a return on equity of 12.28%. The company’s revenue for the quarter was up 15.7% on a year-over-year basis. During the same period in the previous year, the company earned $3.15 EPS. Equities analysts predict that Huntington Ingalls Industries, Inc. will post 13.99 earnings per share for the current fiscal year.

Huntington Ingalls Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 13th. Shareholders of record on Friday, February 27th will be issued a dividend of $1.38 per share. This represents a $5.52 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend is Friday, February 27th. Huntington Ingalls Industries’s payout ratio is 35.91%.

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.