Royal Bank of Canada Cuts Position in Huntington Ingalls Industries, Inc. $HII

Royal Bank of Canada decreased its stake in Huntington Ingalls Industries, Inc. (NYSE:HII) by 14.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 84,044 shares of the aerospace company’s stock after selling 14,644 shares during the period. Royal Bank of Canada’s holdings in Huntington Ingalls Industries were worth $31,929,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in HII. CYBER HORNET ETFs LLC purchased a new stake in shares of Huntington Ingalls Industries during the 2nd quarter worth approximately $25,000. Rakuten Securities Inc. increased its holdings in Huntington Ingalls Industries by 140.0% during the 2nd 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 acquired a new position in Huntington Ingalls Industries during the first quarter worth about $27,000. NBC Securities Inc. raised its position in Huntington Ingalls Industries by 87.2% during the fourth quarter. NBC Securities Inc. now owns 88 shares of the aerospace company’s stock worth $30,000 after acquiring an additional 41 shares during the last quarter. Finally, Smartleaf Asset Management LLC lifted its holdings 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 in the last quarter. Hedge funds and other institutional investors own 90.46% of the company’s stock.

Huntington Ingalls Industries Stock Performance

NYSE:HII opened at $325.83 on Tuesday. The firm has a 50 day simple moving average of $291.01 and a 200-day simple moving average of $358.25. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.23 and a quick ratio of 1.14. The firm has a market cap of $12.84 billion, a PE ratio of 19.42, a P/E/G ratio of 1.40 and a beta of 0.25. Huntington Ingalls Industries, Inc. has a 1-year low of $259.00 and a 1-year high of $460.00.

Huntington Ingalls Industries (NYSE:HII) last announced its quarterly earnings data on Thursday, July 30th. The aerospace company reported $5.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.79 by $1.48. The business had revenue of $3.42 billion for the quarter, compared to the consensus estimate of $3.15 billion. Huntington Ingalls Industries had a net margin of 5.01% and a return on equity of 12.89%. The company’s quarterly revenue was up 10.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.86 earnings per share. On average, equities analysts expect that Huntington Ingalls Industries, Inc. will post 17.31 EPS for the current year.

Huntington Ingalls Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Investors of record on Friday, August 28th will be paid a $1.38 dividend. This represents a $5.52 annualized dividend and a yield of 1.7%. The ex-dividend date is Friday, August 28th. Huntington Ingalls Industries’s dividend payout ratio is presently 32.90%.

Insiders Place Their Bets

In other Huntington Ingalls Industries news, VP Edmond E. Jr. Hughes sold 3,500 shares of the firm’s stock in a transaction dated 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 sale, the vice president directly owned 8,391 shares of the company’s stock, valued at approximately $2,681,595.78. This trade represents a 29.43% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.80% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on HII. Citigroup raised 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 note on Friday. TD Cowen lowered their target price on Huntington Ingalls Industries from $420.00 to $360.00 and set a “buy” rating on the stock in a report on Monday, July 13th. Wall Street Zen downgraded Huntington Ingalls Industries from a “buy” rating to a “hold” rating in a research report on Monday, May 18th. Wolfe Research raised Huntington Ingalls Industries from a “peer perform” rating to an “outperform” rating and set a $364.00 price target for the company in a report on Friday. Finally, Weiss Ratings downgraded Huntington Ingalls Industries from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, May 6th. Five investment 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 stock presently has an average rating of “Hold” and an average price target of $386.38.

Huntington Ingalls Industries Company 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.