ICICI Prudential Asset Management Co Ltd Decreases Holdings in Huntington Ingalls Industries, Inc. $HII

ICICI Prudential Asset Management Co Ltd lessened its position in shares of Huntington Ingalls Industries, Inc. (NYSE:HII) by 8.8% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 38,679 shares of the aerospace company’s stock after selling 3,726 shares during the quarter. Huntington Ingalls Industries accounts for 1.2% of ICICI Prudential Asset Management Co Ltd’s portfolio, making the stock its 13th biggest holding. ICICI Prudential Asset Management Co Ltd owned 0.10% of Huntington Ingalls Industries worth $11,136,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. CYBER HORNET ETFs LLC purchased a new stake in shares of Huntington Ingalls Industries during the 2nd quarter valued at about $25,000. Rakuten Securities Inc. boosted its holdings in shares of Huntington Ingalls Industries by 140.0% in the second quarter. Rakuten Securities Inc. now owns 108 shares of the aerospace company’s stock worth $26,000 after buying an additional 63 shares during the last quarter. SouthState Corp grew its position in Huntington Ingalls Industries by 310.0% during the second quarter. SouthState Corp now owns 123 shares of the aerospace company’s stock valued at $30,000 after buying an additional 93 shares during the period. Anchor Investment Management LLC increased its holdings in Huntington Ingalls Industries by 400.0% during the second quarter. Anchor Investment Management LLC now owns 125 shares of the aerospace company’s stock valued at $30,000 after buying an additional 100 shares during the last quarter. Finally, Versant Capital Management Inc raised its position in Huntington Ingalls Industries by 120.0% in the third quarter. Versant Capital Management Inc now owns 110 shares of the aerospace company’s stock worth $32,000 after acquiring an additional 60 shares during the period. 90.46% of the stock is owned by hedge funds and other institutional investors.

Huntington Ingalls Industries Stock Performance

HII opened at $442.61 on Friday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.06 and a current ratio of 1.13. The stock has a market capitalization of $17.37 billion, a price-to-earnings ratio of 28.80, a PEG ratio of 1.73 and a beta of 0.34. The company has a fifty day moving average of $387.04 and a 200 day moving average of $323.06. Huntington Ingalls Industries, Inc. has a fifty-two week low of $167.70 and a fifty-two week high of $443.32.

Huntington Ingalls Industries (NYSE:HII) last announced its quarterly earnings results on Thursday, February 5th. The aerospace company reported $4.04 EPS for the quarter, topping the consensus estimate of $3.72 by $0.32. The business had revenue of $3.48 billion for the quarter, compared to analysts’ expectations of $3.09 billion. Huntington Ingalls Industries had a net margin of 4.85% and a return on equity of 12.28%. The business’s quarterly revenue was up 15.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.15 EPS. As a group, sell-side analysts forecast that Huntington Ingalls Industries, Inc. will post 13.99 earnings per share for the current fiscal year.

Huntington Ingalls Industries Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 13th. Shareholders of record on Friday, February 27th will be issued a dividend of $1.38 per share. This represents a $5.52 annualized dividend and a yield of 1.2%. The ex-dividend date is Friday, February 27th. Huntington Ingalls Industries’s dividend payout ratio (DPR) is currently 35.91%.

Insider Transactions at Huntington Ingalls Industries

In other news, VP Chad N. Boudreaux sold 787 shares of the company’s stock in a transaction that occurred on Wednesday, November 26th. The stock was sold at an average price of $314.17, for a total transaction of $247,251.79. Following the sale, the vice president directly owned 20,441 shares of the company’s stock, valued at $6,421,948.97. This represents a 3.71% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.72% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Bank of America upgraded Huntington Ingalls Industries from an “underperform” rating to a “neutral” rating and upped their price target for the stock from $300.00 to $400.00 in a research report on Thursday, February 12th. JPMorgan Chase & Co. increased their target price on shares of Huntington Ingalls Industries from $287.00 to $342.00 and gave the stock a “neutral” rating in a report on Monday, November 3rd. 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 research note on Friday, October 31st. Weiss Ratings reiterated a “hold (c)” rating on shares of Huntington Ingalls Industries in a research report on Thursday, January 22nd. Finally, Melius Research raised shares of Huntington Ingalls Industries from a “hold” rating to a “buy” rating in a research note on Monday, January 5th. Five analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $370.38.

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.