Edgestream Partners L.P. Acquires New Position in Huntington Ingalls Industries, Inc. $HII

Edgestream Partners L.P. bought a new position in Huntington Ingalls Industries, Inc. (NYSE:HII) in the 2nd quarter, Holdings Channel.com reports. The institutional investor bought 9,192 shares of the aerospace company’s stock, valued at approximately $2,220,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Sound Shore Management Inc CT bought a new stake in shares of Huntington Ingalls Industries during the second quarter valued at approximately $80,047,000. Jacobs Levy Equity Management Inc. boosted its stake in Huntington Ingalls Industries by 94.0% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 408,305 shares of the aerospace company’s stock valued at $83,311,000 after purchasing an additional 197,825 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Huntington Ingalls Industries by 26.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 728,692 shares of the aerospace company’s stock worth $148,686,000 after purchasing an additional 150,204 shares in the last quarter. Hotchkis & Wiley Capital Management LLC raised its stake in shares of Huntington Ingalls Industries by 73.5% in the first quarter. Hotchkis & Wiley Capital Management LLC now owns 252,639 shares of the aerospace company’s stock worth $51,548,000 after purchasing an additional 107,009 shares during the last quarter. Finally, Citigroup Inc. raised its stake in shares of Huntington Ingalls Industries by 91.7% in the first quarter. Citigroup Inc. now owns 183,799 shares of the aerospace company’s stock worth $37,502,000 after purchasing an additional 87,913 shares during the last quarter. Institutional investors own 90.46% of the company’s stock.

Wall Street Analysts Forecast Growth

HII has been the topic of several recent analyst reports. Sanford C. Bernstein reaffirmed a “market perform” rating and set a $362.00 price objective on shares of Huntington Ingalls Industries in a research report on Friday, November 7th. Zacks Research lowered shares of Huntington Ingalls Industries from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 14th. Weiss Ratings restated a “hold (c)” rating on shares of Huntington Ingalls Industries in a research report on Wednesday, October 8th. TD Cowen raised their target price on shares of Huntington Ingalls Industries from $320.00 to $350.00 and gave the stock a “buy” rating in a report on Friday, October 31st. Finally, The Goldman Sachs Group boosted their target price on shares of Huntington Ingalls Industries from $316.00 to $356.00 and gave the company a “buy” rating in a research note on Friday, October 31st. Three research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $318.57.

Insider Buying and Selling

In other Huntington Ingalls Industries news, VP Edmond E. Jr. Hughes sold 850 shares of the business’s stock in a transaction dated Thursday, November 20th. The stock was sold at an average price of $315.44, for a total transaction of $268,124.00. Following the completion of the sale, the vice president owned 8,731 shares of the company’s stock, valued at approximately $2,754,106.64. The trade was a 8.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Nicolas G. Schuck sold 466 shares of the firm’s stock in a transaction dated Tuesday, November 4th. The stock was sold at an average price of $314.36, for a total value of $146,491.76. Following the completion of the transaction, the chief accounting officer directly owned 2,418 shares in the company, valued at $760,122.48. This trade represents a 16.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 17,103 shares of company stock valued at $5,477,768 over the last three months. 0.72% of the stock is currently owned by company insiders.

Huntington Ingalls Industries Stock Performance

HII opened at $316.19 on Friday. The company’s 50 day moving average is $300.70 and its 200 day moving average is $269.92. The company has a current ratio of 1.14, a quick ratio of 1.06 and a debt-to-equity ratio of 0.54. The company has a market cap of $12.41 billion, a price-to-earnings ratio of 21.84, a PEG ratio of 1.60 and a beta of 0.37. Huntington Ingalls Industries, Inc. has a 12-month low of $158.88 and a 12-month high of $330.00.

Huntington Ingalls Industries (NYSE:HII) last announced its earnings results on Thursday, October 30th. The aerospace company reported $3.68 EPS for the quarter, beating analysts’ consensus estimates of $3.29 by $0.39. The business had revenue of $3.19 billion during the quarter, compared to analysts’ expectations of $2.95 billion. Huntington Ingalls Industries had a net margin of 4.74% and a return on equity of 11.79%. The firm’s revenue was up 16.1% on a year-over-year basis. During the same period in the prior year, the company earned $2.56 earnings per share. On average, equities research analysts predict that Huntington Ingalls Industries, Inc. will post 13.99 EPS for the current year.

Huntington Ingalls Industries Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 12th. Investors of record on Friday, November 28th will be issued a $1.38 dividend. The ex-dividend date of this dividend is Friday, November 28th. This represents a $5.52 dividend on an annualized basis and a yield of 1.7%. This is an increase from Huntington Ingalls Industries’s previous quarterly dividend of $1.35. Huntington Ingalls Industries’s payout ratio is 38.12%.

Huntington Ingalls Industries Profile

Huntington Ingalls Industries, Inc designs, builds, overhauls, and repairs military ships in the United States. It operates through three segments: Ingalls, Newport News, and Mission Technologies. The company is involved in the design and construction of non-nuclear ships comprising amphibious assault ships; expeditionary warfare ships; surface combatants; and national security cutters for the U.S.