Bank of Nova Scotia Grows Position in Huntington Ingalls Industries, Inc. $HII

Bank of Nova Scotia grew its stake in Huntington Ingalls Industries, Inc. (NYSE:HII) by 498.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 27,983 shares of the aerospace company’s stock after acquiring an additional 23,305 shares during the quarter. Bank of Nova Scotia’s holdings in Huntington Ingalls Industries were worth $10,631,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in HII. Northwestern Mutual Wealth Management Co. raised its stake in Huntington Ingalls Industries by 38,526.6% in 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 purchasing an additional 1,981,424 shares during the last quarter. Van ECK Associates Corp boosted its stake in shares of Huntington Ingalls Industries by 32.1% during the 4th quarter. Van ECK Associates Corp now owns 1,646,733 shares of the aerospace company’s stock worth $560,004,000 after purchasing an additional 400,428 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Huntington Ingalls Industries by 5.3% during the 4th quarter. Geode Capital Management LLC now owns 1,116,501 shares of the aerospace company’s stock worth $379,098,000 after purchasing an additional 56,618 shares during the last quarter. AQR Capital Management LLC grew its holdings in shares of Huntington Ingalls Industries by 85.0% during 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 in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Huntington Ingalls Industries by 1.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 978,365 shares of the aerospace company’s stock worth $332,717,000 after buying an additional 11,743 shares in the last quarter. Institutional investors and hedge funds own 90.46% of the company’s stock.

Huntington Ingalls Industries Stock Performance

NYSE:HII opened at $287.55 on Monday. The company has a quick ratio of 1.11, a current ratio of 1.19 and a debt-to-equity ratio of 0.52. The company has a market cap of $11.33 billion, a P/E ratio of 18.71, a P/E/G ratio of 1.23 and a beta of 0.25. Huntington Ingalls Industries, Inc. has a fifty-two week low of $256.45 and a fifty-two week high of $460.00. The firm’s 50 day moving average is $292.90 and its two-hundred day moving average is $361.48.

Huntington Ingalls Industries (NYSE:HII) last announced its quarterly earnings results on Tuesday, May 5th. The aerospace company reported $3.79 earnings per share for the quarter, beating analysts’ consensus estimates of $3.70 by $0.09. Huntington Ingalls Industries had a net margin of 4.71% and a return on equity of 12.05%. The company had revenue of $3.10 billion for the quarter, compared to analyst estimates of $3.02 billion. During the same quarter last year, the business earned $3.79 EPS. Huntington Ingalls Industries’s revenue for the quarter was up 13.4% on a year-over-year basis. Analysts expect that Huntington Ingalls Industries, Inc. will post 17.31 EPS for the current year.

Huntington Ingalls Industries Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 12th. Investors of record on Friday, May 29th were issued a $1.38 dividend. The ex-dividend date was Friday, May 29th. This represents a $5.52 dividend on an annualized basis and a yield of 1.9%. Huntington Ingalls Industries’s dividend payout ratio (DPR) is presently 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 dated Thursday, May 28th. The stock was sold at an average price of $319.58, for a total transaction of $1,118,530.00. Following the completion of the sale, the vice president 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on HII. Wall Street Zen downgraded shares of Huntington Ingalls Industries from a “buy” rating to a “hold” rating in a research note on Monday, May 18th. Citigroup lowered their target price on shares of Huntington Ingalls Industries from $405.00 to $349.00 and set a “buy” rating for the company in a research note on Wednesday, July 1st. Wells Fargo & Company assumed coverage on Huntington Ingalls Industries in a report on Wednesday, April 1st. They issued an “equal weight” rating and a $400.00 price target for the company. TD Cowen reduced their price target on Huntington Ingalls Industries from $420.00 to $360.00 and set a “buy” rating on the stock in a research note on Monday, July 13th. Finally, Weiss Ratings cut Huntington Ingalls Industries from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, May 6th. Four research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $374.00.

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.