Texas Permanent School Fund Corp Sells 1,746 Shares of Huntington Ingalls Industries, Inc. $HII

Texas Permanent School Fund Corp cut its stake in Huntington Ingalls Industries, Inc. (NYSE:HII) by 41.2% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,491 shares of the aerospace company’s stock after selling 1,746 shares during the quarter. Texas Permanent School Fund Corp’s holdings in Huntington Ingalls Industries were worth $601,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. B. Riley Wealth Advisors Inc. purchased a new position in shares of Huntington Ingalls Industries during the second quarter valued at about $513,000. Anchor Investment Management LLC grew its holdings in shares of Huntington Ingalls Industries by 400.0% during the 2nd quarter. Anchor Investment Management LLC now owns 125 shares of the aerospace company’s stock worth $30,000 after acquiring an additional 100 shares during the period. Asset Dedication LLC raised its position in shares of Huntington Ingalls Industries by 1,997.4% in the 2nd quarter. Asset Dedication LLC now owns 797 shares of the aerospace company’s stock worth $192,000 after acquiring an additional 759 shares in the last quarter. Pitcairn Co. lifted its stake in shares of Huntington Ingalls Industries by 4.1% in the 2nd quarter. Pitcairn Co. now owns 1,266 shares of the aerospace company’s stock valued at $306,000 after purchasing an additional 50 shares during the period. Finally, CYBER HORNET ETFs LLC purchased a new position in shares of Huntington Ingalls Industries in the 2nd quarter valued at approximately $25,000. Institutional investors own 90.46% of the company’s stock.

Huntington Ingalls Industries Price Performance

HII opened at $351.11 on Friday. The firm has a market cap of $13.78 billion, a PE ratio of 24.25, a P/E/G ratio of 1.71 and a beta of 0.37. The stock has a 50-day moving average price of $315.98 and a 200-day moving average price of $281.83. Huntington Ingalls Industries, Inc. has a 1 year low of $158.88 and a 1 year high of $360.20. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.14 and a quick ratio of 1.06.

Huntington Ingalls Industries (NYSE:HII) last released its quarterly earnings data on Thursday, October 30th. The aerospace company reported $3.68 earnings per share 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 analyst estimates of $2.95 billion. Huntington Ingalls Industries had a net margin of 4.74% and a return on equity of 11.79%. Huntington Ingalls Industries’s revenue was up 16.1% compared to the same quarter last year. During the same period last year, the business earned $2.56 EPS. Sell-side analysts predict that Huntington Ingalls Industries, Inc. will post 13.99 earnings per share for the current fiscal year.

Huntington Ingalls Industries Increases Dividend

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

Analyst Upgrades and Downgrades

A number of research firms have issued reports on HII. JPMorgan Chase & Co. increased their price objective on Huntington Ingalls Industries from $287.00 to $342.00 and gave the stock a “neutral” rating in a report on Monday, November 3rd. Wall Street Zen raised shares of Huntington Ingalls Industries from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 29th. The Goldman Sachs Group increased their price target on shares of Huntington Ingalls Industries from $316.00 to $356.00 and gave the stock a “buy” rating in a research note on Friday, October 31st. Sanford C. Bernstein reissued a “market perform” rating and set a $362.00 price objective on shares of Huntington Ingalls Industries in a research note on Friday, November 7th. Finally, Citigroup began coverage on shares of Huntington Ingalls Industries in a report on Friday, December 12th. They issued a “buy” rating and a $376.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $325.75.

Insider Activity

In other news, CAO Nicolas G. Schuck sold 466 shares of the business’s stock in a transaction on 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 owned 2,418 shares in the company, valued at $760,122.48. The trade was a 16.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Christopher D. Kastner sold 15,000 shares of the company’s stock in a transaction on Wednesday, November 12th. The shares were sold at an average price of $321.06, for a total value of $4,815,900.00. Following the transaction, the chief executive officer directly owned 68,139 shares in the company, valued at approximately $21,876,707.34. The trade was a 18.04% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 17,103 shares of company stock valued at $5,477,768 in the last quarter. Insiders own 0.72% of the company’s stock.

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.