OLD National Bancorp IN Cuts Stock Position in Huntington Ingalls Industries, Inc. $HII

OLD National Bancorp IN lessened its position in Huntington Ingalls Industries, Inc. (NYSE:HII) by 5.4% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 38,336 shares of the aerospace company’s stock after selling 2,186 shares during the period. OLD National Bancorp IN’s holdings in Huntington Ingalls Industries were worth $14,564,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in HII. CYBER HORNET ETFs LLC purchased a new stake in shares of Huntington Ingalls Industries during the 2nd quarter worth $25,000. Rakuten Securities Inc. grew its stake in shares of Huntington Ingalls Industries by 140.0% during the 2nd quarter. Rakuten Securities Inc. now owns 108 shares of the aerospace company’s stock worth $26,000 after purchasing an additional 63 shares during the period. NBC Securities Inc. increased its holdings in shares of Huntington Ingalls Industries by 87.2% in the 4th quarter. NBC Securities Inc. now owns 88 shares of the aerospace company’s stock valued at $30,000 after purchasing an additional 41 shares in the last quarter. Smartleaf Asset Management LLC lifted its stake in shares of Huntington Ingalls Industries by 363.3% in the second quarter. Smartleaf Asset Management LLC now owns 139 shares of the aerospace company’s stock valued at $33,000 after purchasing an additional 109 shares during the period. Finally, Community Bank N.A. acquired a new stake in shares of Huntington Ingalls Industries in the third quarter valued at about $35,000. Hedge funds and other institutional investors own 90.46% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on HII. Wells Fargo & Company started coverage on Huntington Ingalls Industries in a research note on Wednesday, April 1st. They set an “equal weight” rating and a $400.00 price target on the stock. Weiss Ratings cut Huntington Ingalls Industries from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, May 6th. TD Cowen decreased their target price on Huntington Ingalls Industries from $460.00 to $420.00 and set a “buy” rating on the stock in a research report on Thursday, May 14th. Citigroup lowered their target price on Huntington Ingalls Industries from $441.00 to $405.00 and set a “buy” rating on the stock in a report on Monday, May 18th. Finally, Wall Street Zen cut Huntington Ingalls Industries from a “buy” rating to a “hold” rating in a research report on Monday, May 18th. Four investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $388.50.

Insider Activity at Huntington Ingalls Industries

In related news, VP Edmond E. Jr. Hughes sold 3,500 shares of the stock in a transaction 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 completion of the sale, the vice president directly owned 8,391 shares in the company, valued at approximately $2,681,595.78. This represents a 29.43% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.80% of the company’s stock.

Huntington Ingalls Industries Stock Down 0.5%

HII stock opened at $278.18 on Friday. The company has a 50 day moving average price of $323.12 and a two-hundred day moving average price of $369.82. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.11 and a current ratio of 1.19. The stock has a market capitalization of $10.96 billion, a P/E ratio of 18.10, a PEG ratio of 1.18 and a beta of 0.23. Huntington Ingalls Industries, Inc. has a one year low of $236.19 and a one year high of $460.00.

Huntington Ingalls Industries (NYSE:HII) last issued its quarterly earnings results on Tuesday, May 5th. The aerospace company reported $3.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.70 by $0.09. Huntington Ingalls Industries had a return on equity of 12.05% and a net margin of 4.71%.The firm had revenue of $3.10 billion for the quarter, compared to analyst estimates of $3.02 billion. During the same period last year, the company earned $3.79 EPS. The firm’s quarterly revenue was up 13.4% on a year-over-year basis. As a group, sell-side analysts expect that Huntington Ingalls Industries, Inc. will post 17.32 EPS for the current year.

Huntington Ingalls Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 12th. Stockholders of record on Friday, May 29th were given a $1.38 dividend. The ex-dividend date of this dividend was Friday, May 29th. This represents a $5.52 annualized dividend and a dividend yield of 2.0%. Huntington Ingalls Industries’s dividend payout ratio is presently 35.91%.

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.