Maverick Capital Ltd. Purchases Shares of 386,533 Huntington Ingalls Industries, Inc. $HII

Maverick Capital Ltd. purchased a new stake in Huntington Ingalls Industries, Inc. (NYSE:HII) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 386,533 shares of the aerospace company’s stock, valued at approximately $93,332,000. Huntington Ingalls Industries comprises 1.4% of Maverick Capital Ltd.’s investment portfolio, making the stock its 22nd biggest position.

Other institutional investors have also recently modified their holdings of the company. Sound Shore Management Inc CT purchased a new stake in Huntington Ingalls Industries in the 2nd quarter valued at approximately $80,047,000. Jacobs Levy Equity Management Inc. raised its holdings in shares of Huntington Ingalls Industries by 94.0% in the first quarter. Jacobs Levy Equity Management Inc. now owns 408,305 shares of the aerospace company’s stock worth $83,311,000 after acquiring an additional 197,825 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Huntington Ingalls Industries by 26.0% in the first quarter. Dimensional Fund Advisors LP now owns 728,692 shares of the aerospace company’s stock valued at $148,686,000 after acquiring an additional 150,204 shares in the last quarter. Sunriver Management LLC acquired a new stake in shares of Huntington Ingalls Industries during the second quarter valued at $31,532,000. Finally, Hotchkis & Wiley Capital Management LLC increased its position in Huntington Ingalls Industries by 73.5% during the 1st quarter. Hotchkis & Wiley Capital Management LLC now owns 252,639 shares of the aerospace company’s stock worth $51,548,000 after purchasing an additional 107,009 shares in the last quarter. 90.46% of the stock is currently owned by institutional investors and hedge funds.

Huntington Ingalls Industries Price Performance

Huntington Ingalls Industries stock opened at $326.16 on Friday. Huntington Ingalls Industries, Inc. has a 1 year low of $158.88 and a 1 year high of $330.45. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.06 and a current ratio of 1.14. The firm has a 50 day moving average price of $304.10 and a 200 day moving average price of $273.08. The company has a market cap of $12.80 billion, a price-to-earnings ratio of 22.52, a PEG ratio of 1.68 and a beta of 0.37.

Huntington Ingalls Industries (NYSE:HII) last posted its quarterly 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 4.74% and a return on equity of 11.79%. The company had revenue of $3.19 billion for the quarter, compared to the consensus estimate of $2.95 billion. During the same quarter last year, the firm posted $2.56 earnings per share. Huntington Ingalls Industries’s revenue was up 16.1% on a year-over-year basis. Sell-side analysts predict that Huntington Ingalls Industries, Inc. will post 13.99 earnings per share for the current year.

Huntington Ingalls Industries Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 12th. Investors of record on Friday, November 28th will be issued a $1.38 dividend. The ex-dividend date is Friday, November 28th. This is an increase 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 1.7%. Huntington Ingalls Industries’s payout ratio is 38.12%.

Insider Transactions at Huntington Ingalls Industries

In other Huntington Ingalls Industries news, CEO Christopher D. Kastner sold 15,000 shares of the company’s stock in a transaction dated Wednesday, November 12th. The stock was sold at an average price of $321.06, for a total transaction of $4,815,900.00. Following the completion of the sale, the chief executive officer directly owned 68,139 shares in the company, valued at $21,876,707.34. This represents a 18.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Nicolas G. Schuck sold 466 shares of the firm’s stock in a transaction dated Tuesday, November 4th. The stock was sold at an average price of $314.36, for a total value of $146,491.76. Following the completion of the transaction, the chief accounting officer owned 2,418 shares in the company, valued at approximately $760,122.48. This trade represents a 16.16% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 17,103 shares of company stock worth $5,477,768 in the last three months. 0.72% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on HII. Sanford C. Bernstein restated a “market perform” rating and issued a $362.00 target price on shares of Huntington Ingalls Industries in a report on Friday, November 7th. JPMorgan Chase & Co. boosted their price objective on shares of Huntington Ingalls Industries from $287.00 to $342.00 and gave the company a “neutral” rating in a research report on Monday, November 3rd. Weiss Ratings restated a “hold (c)” rating on shares of Huntington Ingalls Industries in a research report on Wednesday, October 8th. TD Cowen lifted their target price on shares of Huntington Ingalls Industries from $320.00 to $350.00 and gave the stock a “buy” rating in a research note on Friday, October 31st. Finally, Zacks Research lowered Huntington Ingalls Industries from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 14th. Three analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price 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.