Summit Wealth & Retirement Planning Inc. Invests $230,000 in Huntington Ingalls Industries, Inc. $HII

Summit Wealth & Retirement Planning Inc. acquired a new stake in Huntington Ingalls Industries, Inc. (NYSE:HII) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 953 shares of the aerospace company’s stock, valued at approximately $230,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. SouthState Corp raised its position in shares of Huntington Ingalls Industries by 310.0% during the 2nd quarter. SouthState Corp now owns 123 shares of the aerospace company’s stock valued at $30,000 after acquiring an additional 93 shares during the last quarter. Park Square Financial Group LLC bought a new position in shares of Huntington Ingalls Industries in the 1st quarter worth $31,000. Geneos Wealth Management Inc. grew its stake in shares of Huntington Ingalls Industries by 40.1% during the first quarter. Geneos Wealth Management Inc. now owns 206 shares of the aerospace company’s stock worth $42,000 after purchasing an additional 59 shares during the period. Concord Wealth Partners increased its holdings in Huntington Ingalls Industries by 570.7% in the second quarter. Concord Wealth Partners now owns 275 shares of the aerospace company’s stock valued at $66,000 after purchasing an additional 234 shares during the last quarter. Finally, Allworth Financial LP increased its holdings in Huntington Ingalls Industries by 152.0% in the first quarter. Allworth Financial LP now owns 320 shares of the aerospace company’s stock valued at $71,000 after purchasing an additional 193 shares during the last quarter. 90.46% of the stock is owned by institutional investors.

Huntington Ingalls Industries Stock Up 1.5%

Shares of HII stock opened at $310.03 on Friday. Huntington Ingalls Industries, Inc. has a 12-month low of $158.88 and a 12-month high of $330.00. The company has a quick ratio of 1.00, a current ratio of 1.08 and a debt-to-equity ratio of 0.55. The firm has a fifty day moving average of $285.59 and a 200-day moving average of $258.78. The company has a market capitalization of $12.17 billion, a price-to-earnings ratio of 23.21, a P/E/G ratio of 1.71 and a beta of 0.40.

Huntington Ingalls Industries (NYSE:HII) last announced its earnings results on Thursday, October 30th. The aerospace company reported $3.68 earnings per share for the quarter, topping analysts’ consensus estimates of $3.29 by $0.39. Huntington Ingalls Industries had a net margin of 4.54% and a return on equity of 11.34%. The firm had revenue of $3.19 billion during the quarter, compared to analyst estimates of $2.95 billion. During the same period in the prior year, the business earned $2.56 EPS. The company’s revenue for the quarter was up 16.1% compared to the same quarter last year. Huntington Ingalls Industries has set its FY 2025 guidance at EPS. As a group, equities research analysts predict that Huntington Ingalls Industries, Inc. will post 13.99 earnings per share for the current fiscal year.

Huntington Ingalls Industries Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 12th. Investors of record on Friday, November 28th will be issued a dividend of $1.38 per share. The ex-dividend date is 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 dividend yield of 1.8%. Huntington Ingalls Industries’s dividend payout ratio is 38.12%.

Insider Transactions at Huntington Ingalls Industries

In other Huntington Ingalls Industries news, CAO Nicolas G. Schuck sold 466 shares of the business’s stock in a transaction that occurred on Tuesday, November 4th. The stock was sold at an average price of $314.36, for a total value of $146,491.76. Following the sale, the chief accounting officer owned 2,418 shares in the company, valued at approximately $760,122.48. The trade was a 16.16% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.86% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on HII shares. JPMorgan Chase & Co. raised their target price on Huntington Ingalls Industries from $287.00 to $342.00 and gave the stock a “neutral” rating in a report on Monday, November 3rd. Zacks Research lowered shares of Huntington Ingalls Industries from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 14th. TD Cowen boosted their price objective on shares of Huntington Ingalls Industries from $320.00 to $350.00 and gave the company a “buy” rating in a report on Friday, October 31st. Weiss Ratings reiterated a “hold (c)” rating on shares of Huntington Ingalls Industries in a report on Wednesday, October 8th. Finally, The Goldman Sachs Group lifted their price target on shares of Huntington Ingalls Industries from $316.00 to $356.00 and gave the stock a “buy” rating in a research report on Friday, October 31st. Three research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $318.57.

About Huntington Ingalls Industries

Huntington Ingalls Industries, Inc designs, builds, overhauls, and repairs military ships in the United States. It operates through three segments: Ingalls, Newport News, and Mission Technologies. The company is involved in the design and construction of non-nuclear ships comprising amphibious assault ships; expeditionary warfare ships; surface combatants; and national security cutters for the U.S.