Huntington Ingalls Industries, Inc. $HII Shares Bought by OLD National Bancorp IN

OLD National Bancorp IN grew its holdings in shares of Huntington Ingalls Industries, Inc. (NYSE:HII) by 3.9% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 42,835 shares of the aerospace company’s stock after purchasing an additional 1,608 shares during the quarter. OLD National Bancorp IN’s holdings in Huntington Ingalls Industries were worth $12,333,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Peddock Capital Advisors LLC bought a new stake in Huntington Ingalls Industries during the second quarter worth approximately $483,000. Buttonwood Financial Advisors Inc. acquired a new stake in shares of Huntington Ingalls Industries during the 2nd quarter valued at $253,000. Revisor Wealth Management LLC acquired a new stake in shares of Huntington Ingalls Industries during the 2nd quarter valued at $374,000. Korea Investment CORP bought a new stake in shares of Huntington Ingalls Industries during the 2nd quarter worth $1,604,000. Finally, Sumitomo Mitsui DS Asset Management Company Ltd acquired a new position in shares of Huntington Ingalls Industries in the 2nd quarter worth $243,000. 90.46% of the stock is currently owned by institutional investors and hedge funds.

Huntington Ingalls Industries Stock Up 5.0%

NYSE:HII opened at $353.46 on Tuesday. The business’s fifty day moving average price is $310.32 and its 200 day moving average price is $278.98. The firm has a market capitalization of $13.87 billion, a price-to-earnings ratio of 24.41, a PEG ratio of 1.62 and a beta of 0.37. The company has a current ratio of 1.14, a quick ratio of 1.06 and a debt-to-equity ratio of 0.54. Huntington Ingalls Industries, Inc. has a 1-year low of $158.88 and a 1-year high of $357.44.

Huntington Ingalls Industries (NYSE:HII) last released its earnings results on Thursday, October 30th. The aerospace company reported $3.68 earnings per share for the quarter, beating the consensus estimate of $3.29 by $0.39. The company had revenue of $3.19 billion for the quarter, compared to analysts’ expectations of $2.95 billion. Huntington Ingalls Industries had a return on equity of 11.79% and a net margin of 4.74%.The business’s revenue for the quarter was up 16.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.56 EPS. On average, sell-side analysts forecast that Huntington Ingalls Industries, Inc. will post 13.99 earnings per share for the current fiscal year.

Huntington Ingalls Industries Increases Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend was Friday, November 28th. This is a boost from Huntington Ingalls Industries’s previous quarterly dividend of $1.35. This represents a $5.52 dividend on an annualized basis and a yield of 1.6%. Huntington Ingalls Industries’s payout ratio is presently 38.12%.

Insider Activity at Huntington Ingalls Industries

In other Huntington Ingalls Industries news, CAO Nicolas G. Schuck sold 466 shares of the company’s stock in a transaction that occurred on Tuesday, November 4th. The shares were sold at an average price of $314.36, for a total value of $146,491.76. Following the transaction, the chief accounting officer owned 2,418 shares in the company, valued at approximately $760,122.48. This represents a 16.16% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Edmond E. Jr. Hughes sold 850 shares of the stock in a transaction that occurred on Thursday, November 20th. The stock was sold at an average price of $315.44, for a total transaction of $268,124.00. Following the completion of the sale, the vice president owned 8,731 shares of the company’s stock, valued at approximately $2,754,106.64. The trade was a 8.87% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 17,103 shares of company stock worth $5,477,768 in the last 90 days. 0.86% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. Sanford C. Bernstein reaffirmed a “market perform” rating and set a $362.00 target price on shares of Huntington Ingalls Industries in a research report on Friday, November 7th. The Goldman Sachs Group lifted their price target on Huntington Ingalls Industries from $316.00 to $356.00 and gave the stock a “buy” rating in a research note on Friday, October 31st. Wall Street Zen upgraded Huntington Ingalls Industries from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 29th. Weiss Ratings reiterated a “hold (c)” rating on shares of Huntington Ingalls Industries in a report on Wednesday, October 8th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Huntington Ingalls Industries from $287.00 to $342.00 and gave the stock a “neutral” rating in a research report on Monday, November 3rd. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $325.75.

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.