Hsbc Holdings PLC Grows Stock Position in Huntington Ingalls Industries, Inc. $HII

Hsbc Holdings PLC raised its position in Huntington Ingalls Industries, Inc. (NYSE:HII) by 115.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 115,204 shares of the aerospace company’s stock after acquiring an additional 61,811 shares during the quarter. Hsbc Holdings PLC owned 0.29% of Huntington Ingalls Industries worth $32,251,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the company. BlackRock Inc. acquired a new position in Huntington Ingalls Industries in the 2nd quarter worth $944,877,000. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Huntington Ingalls Industries by 38,526.6% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,986,567 shares of the aerospace company’s stock valued at $675,572,000 after buying an additional 1,981,424 shares during the last quarter. Van ECK Associates Corp grew its position in shares of Huntington Ingalls Industries by 32.1% during the fourth quarter. Van ECK Associates Corp now owns 1,646,733 shares of the aerospace company’s stock worth $560,004,000 after buying an additional 400,428 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Huntington Ingalls Industries by 5.3% during the fourth quarter. Geode Capital Management LLC now owns 1,116,501 shares of the aerospace company’s stock worth $379,098,000 after buying an additional 56,618 shares in the last quarter. Finally, AQR Capital Management LLC increased its stake in shares of Huntington Ingalls Industries by 85.0% in the fourth quarter. AQR Capital Management LLC now owns 1,085,619 shares of the aerospace company’s stock worth $369,186,000 after buying an additional 498,690 shares during the last quarter. Hedge funds and other institutional investors own 90.46% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on HII. Wells Fargo & Company raised 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 report on Tuesday, August 4th. TD Cowen reduced their price target on shares of Huntington Ingalls Industries from $420.00 to $360.00 and set a “buy” rating on the stock in a research report on Monday, July 13th. Weiss Ratings cut shares of Huntington Ingalls Industries from a “hold (c+)” rating to a “hold (c)” rating in a research report on Monday, August 17th. Sanford C. Bernstein set a $341.00 price target on Huntington Ingalls Industries in a research note on Tuesday. Finally, Wall Street Zen lowered Huntington Ingalls Industries from a “buy” rating to a “hold” rating in a report on Monday, May 18th. Five investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $368.88.

Huntington Ingalls Industries Trading Up 0.2%

NYSE HII opened at $296.89 on Friday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.14 and a current ratio of 1.23. Huntington Ingalls Industries, Inc. has a one year low of $263.62 and a one year high of $460.00. The company has a 50-day simple moving average of $296.31 and a 200-day simple moving average of $345.22. The firm has a market capitalization of $11.70 billion, a PE ratio of 17.69, a price-to-earnings-growth ratio of 1.12 and a beta of 0.24.

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

Huntington Ingalls Industries Announces Dividend

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

Insiders Place Their Bets

In other Huntington Ingalls Industries news, CEO Christopher D. Kastner sold 13,070 shares of the 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 sale, the chief executive officer directly owned 11,224 shares of the company’s stock, valued at $3,646,902.08. This trade represents a 53.80% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.80% of the stock is owned by corporate insiders.

Huntington Ingalls Industries 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.