Sumitomo Mitsui Trust Group Inc. Raises Stock Holdings in Huntington Ingalls Industries, Inc. $HII

Sumitomo Mitsui Trust Group Inc. boosted its holdings in shares of Huntington Ingalls Industries, Inc. (NYSE:HII) by 279.2% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,751 shares of the aerospace company’s stock after purchasing an additional 5,707 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Huntington Ingalls Industries were worth $2,945,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. CYBER HORNET ETFs LLC purchased a new stake in shares of Huntington Ingalls Industries in the second quarter valued at $25,000. Rakuten Securities Inc. raised 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 valued at $26,000 after acquiring an additional 63 shares in the last quarter. Bayban bought a new stake in shares of Huntington Ingalls Industries in the 1st quarter valued at about $27,000. NBC Securities Inc. raised its stake in Huntington Ingalls Industries by 87.2% in the fourth quarter. NBC Securities Inc. now owns 88 shares of the aerospace company’s stock worth $30,000 after buying an additional 41 shares in the last quarter. Finally, Smartleaf Asset Management LLC lifted its stake in shares of Huntington Ingalls Industries by 363.3% during the 2nd quarter. Smartleaf Asset Management LLC now owns 139 shares of the aerospace company’s stock worth $33,000 after purchasing an additional 109 shares during the last quarter. 90.46% of the stock is currently owned by hedge funds and other institutional investors.

Huntington Ingalls Industries Price Performance

Shares of HII stock opened at $277.99 on Thursday. Huntington Ingalls Industries, Inc. has a 12 month low of $250.91 and a 12 month high of $460.00. The company has a market capitalization of $10.95 billion, a PE ratio of 18.09, a price-to-earnings-growth ratio of 1.20 and a beta of 0.25. The firm’s 50-day moving average is $299.87 and its two-hundred day moving average is $365.01. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.19 and a quick ratio of 1.11.

Huntington Ingalls Industries (NYSE:HII) last issued its quarterly earnings data on Tuesday, May 5th. The aerospace company reported $3.79 earnings per share for the quarter, topping the consensus estimate 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 company had revenue of $3.10 billion during the quarter, compared to analyst estimates of $3.02 billion. During the same period in the prior year, the business posted $3.79 earnings per share. The firm’s revenue for the quarter was up 13.4% compared to the same quarter last year. Analysts predict that Huntington Ingalls Industries, Inc. will post 17.33 earnings per share for the current year.

Huntington Ingalls Industries Announces Dividend

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

Insider Buying and Selling

In other news, VP Edmond E. Jr. Hughes sold 3,500 shares of the firm’s stock in a transaction on 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 transaction, the vice president directly owned 8,391 shares in the company, valued at $2,681,595.78. This trade represents a 29.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.80% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Wall Street Zen cut shares of Huntington Ingalls Industries from a “buy” rating to a “hold” rating in a research report on Monday, May 18th. Citigroup decreased their target price on Huntington Ingalls Industries from $405.00 to $349.00 and set a “buy” rating for the company in a report on Wednesday, July 1st. Weiss Ratings downgraded shares of Huntington Ingalls Industries from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, May 6th. TD Cowen decreased their price target on Huntington Ingalls Industries from $420.00 to $360.00 and set a “buy” rating for the company in a report on Monday. Finally, Wells Fargo & Company initiated coverage on shares of Huntington Ingalls Industries in a research note on Wednesday, April 1st. They set an “equal weight” rating and a $400.00 target price on the stock. Four research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $374.00.

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.