Hudson Bay Capital Management LP bought a new position in Huntington Ingalls Industries Inc (NYSE:HII) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 10,773 shares of the aerospace company’s stock, valued at approximately $2,539,000.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of HII. BlackRock Inc. lifted its stake in Huntington Ingalls Industries by 2.4% in the 4th quarter. BlackRock Inc. now owns 4,727,701 shares of the aerospace company’s stock worth $1,114,317,000 after purchasing an additional 112,168 shares in the last quarter. Atlantic Trust Group LLC purchased a new stake in Huntington Ingalls Industries in the 3rd quarter worth approximately $19,490,000. Principal Financial Group Inc. lifted its stake in Huntington Ingalls Industries by 31.5% in the 3rd quarter. Principal Financial Group Inc. now owns 287,477 shares of the aerospace company’s stock worth $65,096,000 after purchasing an additional 68,842 shares in the last quarter. First Trust Advisors LP lifted its stake in Huntington Ingalls Industries by 46.5% in the 4th quarter. First Trust Advisors LP now owns 172,644 shares of the aerospace company’s stock worth $40,692,000 after purchasing an additional 54,761 shares in the last quarter. Finally, State of Wisconsin Investment Board lifted its stake in Huntington Ingalls Industries by 120.7% in the 3rd quarter. State of Wisconsin Investment Board now owns 90,318 shares of the aerospace company’s stock worth $20,452,000 after purchasing an additional 49,394 shares in the last quarter. Institutional investors and hedge funds own 82.05% of the company’s stock.
Several research firms have issued reports on HII. Sanford C. Bernstein reiterated a “market perform” rating and issued a $271.00 target price (up from $242.00) on shares of Huntington Ingalls Industries in a research note on Tuesday, February 20th. ValuEngine upgraded shares of Huntington Ingalls Industries from a “hold” rating to a “buy” rating in a research note on Saturday, February 17th. Stifel Nicolaus reiterated a “sell” rating and issued a $230.00 target price on shares of Huntington Ingalls Industries in a research note on Friday, February 16th. Bank of America set a $335.00 price objective on shares of Huntington Ingalls Industries and gave the company a “buy” rating in a research report on Friday, February 16th. Finally, Credit Suisse Group upgraded shares of Huntington Ingalls Industries from a “neutral” rating to an “outperform” rating and set a $241.00 price objective on the stock in a research report on Friday, February 16th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $261.38.
Shares of Huntington Ingalls Industries Inc (NYSE HII) opened at $262.01 on Thursday. The company has a current ratio of 1.58, a quick ratio of 1.45 and a debt-to-equity ratio of 0.73. The firm has a market cap of $11,767.91, a price-to-earnings ratio of 22.93, a PEG ratio of 1.01 and a beta of 1.15. Huntington Ingalls Industries Inc has a 52-week low of $183.42 and a 52-week high of $276.69.
Huntington Ingalls Industries (NYSE:HII) last posted its quarterly earnings data on Thursday, February 15th. The aerospace company reported $3.11 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.93 by $0.18. The firm had revenue of $2 billion for the quarter, compared to analysts’ expectations of $1.94 billion. Huntington Ingalls Industries had a net margin of 6.44% and a return on equity of 31.01%. The business’s quarterly revenue was up 3.9% on a year-over-year basis. During the same quarter last year, the company posted $4.20 EPS. sell-side analysts expect that Huntington Ingalls Industries Inc will post 17.38 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 9th. Stockholders of record on Friday, February 23rd will be given a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a dividend yield of 1.10%. The ex-dividend date of this dividend is Thursday, February 22nd. Huntington Ingalls Industries’s dividend payout ratio (DPR) is currently 27.56%.
Huntington Ingalls Industries declared that its Board of Directors has approved a share repurchase program on Tuesday, November 7th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the aerospace company to reacquire shares of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.
About Huntington Ingalls Industries
Huntington Ingalls Industries, Inc is a military shipbuilding company and a provider of professional services to partners in government and industry. The Company’s business consists of the design, construction, repair and maintenance of nuclear-powered ships and non-nuclear ships for the United States Navy and coastal defense surface ships for the United States Coast Guard, as well as the refueling and overhaul and inactivation of nuclear-powered ships for the United States Navy.
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