OppenheimerFunds Inc. decreased its position in shares of Huntington Ingalls Industries Inc (NYSE:HII) by 72.8% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 26,970 shares of the aerospace company’s stock after selling 72,142 shares during the quarter. OppenheimerFunds Inc. owned approximately 0.06% of Huntington Ingalls Industries worth $5,847,000 as of its most recent SEC filing.
Other large investors have also recently bought and sold shares of the company. Oregon Public Employees Retirement Fund bought a new stake in shares of Huntington Ingalls Industries during the 2nd quarter valued at $2,358,000. Korea Investment CORP increased its holdings in Huntington Ingalls Industries by 11.0% during the 2nd quarter. Korea Investment CORP now owns 45,473 shares of the aerospace company’s stock worth $9,858,000 after purchasing an additional 4,500 shares in the last quarter. Liberty Mutual Group Asset Management Inc. bought a new position in Huntington Ingalls Industries during the 2nd quarter worth about $386,000. Envestnet Asset Management Inc. increased its holdings in Huntington Ingalls Industries by 34.4% during the 2nd quarter. Envestnet Asset Management Inc. now owns 6,077 shares of the aerospace company’s stock worth $1,317,000 after purchasing an additional 1,555 shares in the last quarter. Finally, Ontario Teachers Pension Plan Board bought a new position in Huntington Ingalls Industries during the 2nd quarter worth about $312,000. 85.63% of the stock is currently owned by hedge funds and other institutional investors.
In other news, VP Jerri F. Dickseski sold 271 shares of Huntington Ingalls Industries stock in a transaction on Monday, October 1st. The shares were sold at an average price of $257.84, for a total transaction of $69,874.64. Following the transaction, the vice president now owns 34,750 shares in the company, valued at $8,959,940. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 2.32% of the stock is currently owned by insiders.
Huntington Ingalls Industries (NYSE:HII) last issued its earnings results on Thursday, August 2nd. The aerospace company reported $5.40 earnings per share for the quarter, beating analysts’ consensus estimates of $4.21 by $1.19. The firm had revenue of $2.02 billion for the quarter, compared to analyst estimates of $1.88 billion. Huntington Ingalls Industries had a net margin of 7.84% and a return on equity of 39.78%. The company’s quarterly revenue was up 8.7% on a year-over-year basis. During the same quarter last year, the business posted $3.21 earnings per share. As a group, analysts anticipate that Huntington Ingalls Industries Inc will post 17.24 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 14th. Stockholders of record on Friday, August 31st were issued a dividend of $0.72 per share. The ex-dividend date was Thursday, August 30th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.27%. Huntington Ingalls Industries’s dividend payout ratio (DPR) is presently 23.72%.
HII has been the subject of a number of recent research reports. Buckingham Research initiated coverage on shares of Huntington Ingalls Industries in a research note on Wednesday, September 12th. They set a “buy” rating and a $297.00 price objective for the company. Cowen restated a “buy” rating and set a $250.00 price objective on shares of Huntington Ingalls Industries in a research note on Thursday, August 2nd. Vertical Research started coverage on shares of Huntington Ingalls Industries in a research note on Tuesday, June 26th. They issued a “buy” rating for the company. UBS Group started coverage on shares of Huntington Ingalls Industries in a research note on Wednesday, August 15th. They issued a “buy” rating and a $290.00 target price for the company. Finally, Zacks Investment Research upgraded shares of Huntington Ingalls Industries from a “sell” rating to a “hold” rating and set a $262.00 target price for the company in a research note on Friday, August 3rd. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating and nine have assigned a buy rating to the company’s stock. Huntington Ingalls Industries presently has a consensus rating of “Hold” and a consensus price target of $265.33.
About Huntington Ingalls Industries
Huntington Ingalls Industries, Inc engages in the designing, building, overhauling, and repairing military ships in the United States. It operates through three segments: Ingalls Shipbuilding, Newport News Shipbuilding, and Technical Solutions. The company is involved in the design and construction of non-nuclear ships comprising amphibious assault ships that include deck amphibious ships and transport dock ships; surface combatants; and national security cutters for the U.S.
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