Carnegie Investment Counsel Sells 1,535 Shares of Huntington Ingalls Industries, Inc. $HII

Carnegie Investment Counsel cut its holdings in Huntington Ingalls Industries, Inc. (NYSE:HII) by 2.9% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 51,273 shares of the aerospace company’s stock after selling 1,535 shares during the quarter. Carnegie Investment Counsel’s holdings in Huntington Ingalls Industries were worth $14,762,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. CYBER HORNET ETFs LLC bought a new position in shares of Huntington Ingalls Industries in the second quarter worth about $25,000. Rakuten Securities Inc. increased its position in Huntington Ingalls Industries by 140.0% during the 2nd 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. SouthState Corp increased its position in Huntington Ingalls Industries by 310.0% during the 2nd quarter. SouthState Corp now owns 123 shares of the aerospace company’s stock worth $30,000 after purchasing an additional 93 shares in the last quarter. Anchor Investment Management LLC lifted its stake 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 purchasing an additional 100 shares during the last quarter. Finally, Smartleaf Asset Management LLC boosted its position in Huntington Ingalls Industries by 363.3% in the second quarter. Smartleaf Asset Management LLC now owns 139 shares of the aerospace company’s stock valued at $33,000 after buying an additional 109 shares in the last quarter. Institutional investors own 90.46% of the company’s stock.

Insider Activity

In other news, CEO Christopher D. Kastner sold 15,000 shares of the stock in a transaction on Wednesday, November 12th. The shares were sold at an average price of $321.06, for a total transaction of $4,815,900.00. Following the completion of the sale, the chief executive officer directly owned 68,139 shares in the company, valued at $21,876,707.34. This represents a 18.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Nicolas G. Schuck sold 466 shares of Huntington Ingalls Industries stock in a transaction on Tuesday, November 4th. The stock was sold at an average price of $314.36, for a total transaction of $146,491.76. Following the transaction, the chief accounting officer directly owned 2,418 shares of the company’s stock, valued at $760,122.48. This represents a 16.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 17,103 shares of company stock worth $5,477,768. 0.72% of the stock is owned by company insiders.

Huntington Ingalls Industries Stock Performance

NYSE HII opened at $351.11 on Friday. The company has a market capitalization of $13.78 billion, a price-to-earnings ratio of 24.25, a PEG ratio of 1.71 and a beta of 0.37. The company has a quick ratio of 1.06, a current ratio of 1.14 and a debt-to-equity ratio of 0.54. Huntington Ingalls Industries, Inc. has a twelve month low of $158.88 and a twelve month high of $360.20. The stock has a fifty day simple moving average of $315.98 and a 200 day simple moving average of $281.83.

Huntington Ingalls Industries (NYSE:HII) last announced its earnings results on Thursday, October 30th. The aerospace company reported $3.68 EPS for the quarter, topping the consensus estimate of $3.29 by $0.39. The firm had revenue of $3.19 billion for the quarter, compared to the consensus estimate of $2.95 billion. Huntington Ingalls Industries had a return on equity of 11.79% and a net margin of 4.74%.The business’s quarterly revenue was up 16.1% compared to the same quarter last year. During the same period in the previous year, the business earned $2.56 EPS. Sell-side analysts expect that Huntington Ingalls Industries, Inc. will post 13.99 EPS for the current year.

Huntington Ingalls Industries Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 12th. Shareholders of record on Friday, November 28th were given a dividend of $1.38 per share. The ex-dividend date of this dividend was Friday, November 28th. This represents a $5.52 dividend on an annualized basis and a yield of 1.6%. This is a boost from Huntington Ingalls Industries’s previous quarterly dividend of $1.35. Huntington Ingalls Industries’s payout ratio is currently 38.12%.

Analyst Ratings Changes

HII has been the subject of several research analyst reports. Wall Street Zen upgraded shares of Huntington Ingalls Industries from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 29th. The Goldman Sachs Group boosted their price objective on Huntington Ingalls Industries from $316.00 to $356.00 and gave the stock a “buy” rating in a research report on Friday, October 31st. TD Cowen upped their target price on Huntington Ingalls Industries from $320.00 to $350.00 and gave the stock a “buy” rating in a report on Friday, October 31st. Sanford C. Bernstein reissued a “market perform” rating and set a $362.00 price target on shares of Huntington Ingalls Industries in a research note on Friday, November 7th. Finally, Citigroup assumed coverage on Huntington Ingalls Industries in a report on Friday, December 12th. They set a “buy” rating and a $376.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $325.75.

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.