Bank of New York Mellon Corp Acquires 47,591 Shares of Huntington Ingalls Industries, Inc. $HII

Bank of New York Mellon Corp raised its holdings in Huntington Ingalls Industries, Inc. (NYSE:HII) by 17.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 323,141 shares of the aerospace company’s stock after purchasing an additional 47,591 shares during the quarter. Bank of New York Mellon Corp’s holdings in Huntington Ingalls Industries were worth $109,890,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. NBC Securities Inc. lifted its position in shares of Huntington Ingalls Industries by 87.2% during the 4th quarter. NBC Securities Inc. now owns 88 shares of the aerospace company’s stock worth $30,000 after buying an additional 41 shares during the last quarter. CYBER HORNET ETFs LLC bought a new position in Huntington Ingalls Industries in the second quarter valued at about $25,000. Rakuten Securities Inc. raised its stake in Huntington Ingalls Industries by 140.0% during the second quarter. Rakuten Securities Inc. now owns 108 shares of the aerospace company’s stock worth $26,000 after acquiring an additional 63 shares in the last quarter. Community Bank N.A. acquired a new position in Huntington Ingalls Industries during the third quarter worth about $35,000. Finally, Elyxium Wealth LLC bought a new position in shares of Huntington Ingalls Industries in the fourth quarter worth about $42,000. Institutional investors and hedge funds own 90.46% of the company’s stock.

Huntington Ingalls Industries Stock Performance

Huntington Ingalls Industries stock opened at $292.97 on Monday. The business has a 50 day moving average of $352.10 and a 200-day moving average of $371.79. The company has a market capitalization of $11.54 billion, a P/E ratio of 19.06, a P/E/G ratio of 1.24 and a beta of 0.23. Huntington Ingalls Industries, Inc. has a 1 year low of $215.04 and a 1 year high of $460.00. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.19 and a quick ratio of 1.11.

Huntington Ingalls Industries (NYSE:HII) last announced its earnings results on Tuesday, May 5th. The aerospace company reported $3.79 EPS for the quarter, topping the consensus estimate of $3.70 by $0.09. The firm had revenue of $3.10 billion for the quarter, compared to the consensus estimate of $3.02 billion. Huntington Ingalls Industries had a return on equity of 12.05% and a net margin of 4.71%.The business’s quarterly revenue was up 13.4% compared to the same quarter last year. During the same period in the previous year, the business earned $3.79 EPS. On average, equities research analysts predict that Huntington Ingalls Industries, Inc. will post 17.32 earnings per share for the current year.

Huntington Ingalls Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 12th. Investors of record on Friday, May 29th will be paid a dividend of $1.38 per share. The ex-dividend date of this dividend is Friday, May 29th. This represents a $5.52 annualized dividend and a yield of 1.9%. Huntington Ingalls Industries’s dividend payout ratio (DPR) is currently 35.91%.

Insiders Place Their Bets

In other Huntington Ingalls Industries news, VP Edmond E. Jr. Hughes sold 3,500 shares of the business’s stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $319.58, for a total value of $1,118,530.00. Following the transaction, the vice president directly owned 8,391 shares of the company’s stock, valued at approximately $2,681,595.78. The trade was a 29.43% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on HII shares. Weiss Ratings downgraded shares of Huntington Ingalls Industries from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, May 6th. TD Cowen dropped their price objective on shares of Huntington Ingalls Industries from $460.00 to $420.00 and set a “buy” rating for the company in a research note on Thursday, May 14th. Wall Street Zen lowered shares of Huntington Ingalls Industries from a “buy” rating to a “hold” rating in a research report on Monday, May 18th. Citigroup decreased their target price on shares of Huntington Ingalls Industries from $441.00 to $405.00 and set a “buy” rating on the stock in a research note on Monday, May 18th. Finally, Sanford C. Bernstein reiterated a “market perform” rating and set a $421.00 price target on shares of Huntington Ingalls Industries in a report on Wednesday, February 11th. Four investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $388.50.

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.