Canada Pension Plan Investment Board Lowers Stock Position in Huntington Ingalls Industries, Inc. $HII

Canada Pension Plan Investment Board trimmed its holdings in Huntington Ingalls Industries, Inc. (NYSE:HII) by 9.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 58,740 shares of the aerospace company’s stock after selling 6,236 shares during the quarter. Canada Pension Plan Investment Board owned approximately 0.15% of Huntington Ingalls Industries worth $16,441,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Geneos Wealth Management Inc. increased its stake in Huntington Ingalls Industries by 40.1% in the first quarter. Geneos Wealth Management Inc. now owns 206 shares of the aerospace company’s stock valued at $42,000 after purchasing an additional 59 shares during the period. EverSource Wealth Advisors LLC boosted its stake in shares of Huntington Ingalls Industries by 329.4% during the second quarter. EverSource Wealth Advisors LLC now owns 365 shares of the aerospace company’s stock worth $88,000 after buying an additional 280 shares during the period. Marshall Wace LLP grew its holdings in shares of Huntington Ingalls Industries by 432.1% during the second quarter. Marshall Wace LLP now owns 38,144 shares of the aerospace company’s stock worth $9,210,000 after buying an additional 30,975 shares during the last quarter. Cresset Asset Management LLC grew its holdings in shares of Huntington Ingalls Industries by 23.0% during the second quarter. Cresset Asset Management LLC now owns 1,575 shares of the aerospace company’s stock worth $381,000 after buying an additional 294 shares during the last quarter. Finally, Jump Financial LLC acquired a new position in Huntington Ingalls Industries in the 2nd quarter valued at about $398,000. Hedge funds and other institutional investors own 90.46% of the company’s stock.

Insider Buying and Selling at Huntington Ingalls Industries

In other news, CEO Christopher D. Kastner sold 13,070 shares of the company’s stock in a transaction on Monday, August 10th. The shares were sold at an average price of $324.92, for a total transaction of $4,246,704.40. Following the transaction, the chief executive officer directly owned 11,224 shares of the company’s stock, valued at $3,646,902.08. This represents a 53.80% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.80% of the stock is currently owned by company insiders.

Huntington Ingalls Industries Stock Performance

NYSE HII opened at $294.09 on Friday. The stock has a market capitalization of $11.59 billion, a price-to-earnings ratio of 17.53, a PEG ratio of 1.12 and a beta of 0.24. The business’s 50 day moving average is $296.49 and its two-hundred day moving average is $344.86. Huntington Ingalls Industries, Inc. has a 12-month low of $263.62 and a 12-month high of $460.00. The company has a current ratio of 1.23, a quick ratio of 1.14 and a debt-to-equity ratio of 0.51.

Huntington Ingalls Industries (NYSE:HII) last posted its quarterly earnings results on Thursday, July 30th. The aerospace company reported $5.27 EPS for the quarter, beating the consensus estimate of $3.79 by $1.48. Huntington Ingalls Industries had a return on equity of 12.89% and a net margin of 5.01%.The business had revenue of $3.42 billion during the quarter, compared to analysts’ expectations of $3.15 billion. During the same period last year, the firm earned $3.86 EPS. The company’s quarterly revenue was up 10.9% compared to the same quarter last year. Research analysts expect that Huntington Ingalls Industries, Inc. will post 18.47 EPS for the current year.

Huntington Ingalls Industries Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Shareholders of record on Friday, August 28th will be given a dividend of $1.38 per share. This represents a $5.52 annualized dividend and a dividend yield of 1.9%. The ex-dividend date is Friday, August 28th. Huntington Ingalls Industries’s payout ratio is presently 32.90%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Sanford C. Bernstein set a $341.00 price objective on Huntington Ingalls Industries in a research report on Tuesday. Wells Fargo & Company lifted their price objective on shares of Huntington Ingalls Industries from $325.00 to $340.00 and gave the company an “equal weight” rating in a research report on Tuesday, August 4th. Wolfe Research raised shares of Huntington Ingalls Industries from a “peer perform” rating to an “outperform” rating and set a $364.00 price objective on the stock in a research note on Friday, July 31st. TD Cowen dropped their price objective on shares of Huntington Ingalls Industries from $420.00 to $360.00 and set a “buy” rating on the stock in a research note on Monday, July 13th. Finally, Citigroup upped their price objective on shares of Huntington Ingalls Industries from $349.00 to $379.00 and gave the stock a “buy” rating in a research report on Friday, July 31st. Five equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $368.88.

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.