Sumitomo Mitsui Trust Group Inc. Increases Stake in Huntington Ingalls Industries, Inc. $HII

Sumitomo Mitsui Trust Group Inc. raised its position in Huntington Ingalls Industries, Inc. (NYSE:HII) by 279.2% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,751 shares of the aerospace company’s stock after acquiring an additional 5,707 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Huntington Ingalls Industries were worth $2,945,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of HII. Northwestern Mutual Wealth Management Co. boosted its holdings in Huntington Ingalls Industries by 38,526.6% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,986,567 shares of the aerospace company’s stock valued at $675,572,000 after purchasing an additional 1,981,424 shares in the last quarter. AQR Capital Management LLC lifted its position in Huntington Ingalls Industries by 85.0% during the 4th quarter. AQR Capital Management LLC now owns 1,085,619 shares of the aerospace company’s stock worth $369,186,000 after acquiring an additional 498,690 shares during the period. Van ECK Associates Corp grew its position in Huntington Ingalls Industries by 32.1% in the 4th quarter. Van ECK Associates Corp now owns 1,646,733 shares of the aerospace company’s stock valued at $560,004,000 after buying an additional 400,428 shares during the last quarter. Marshall Wace LLP boosted its holdings in shares of Huntington Ingalls Industries by 588.1% in the fourth quarter. Marshall Wace LLP now owns 351,879 shares of the aerospace company’s stock valued at $119,663,000 after acquiring an additional 300,740 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its holdings in Huntington Ingalls Industries by 390.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 285,339 shares of the aerospace company’s stock valued at $97,036,000 after purchasing an additional 227,126 shares in the last quarter. 90.46% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

HII has been the topic of several research analyst reports. Wells Fargo & Company assumed coverage on shares of Huntington Ingalls Industries in a research report on Wednesday, April 1st. They set an “equal weight” rating and a $400.00 target price on the stock. 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. Wall Street Zen cut shares of Huntington Ingalls Industries from a “buy” rating to a “hold” rating in a research note on Monday, May 18th. Citigroup lowered their price objective on Huntington Ingalls Industries from $405.00 to $349.00 and set a “buy” rating for the company in a research report on Wednesday, July 1st. Finally, Weiss Ratings downgraded shares of Huntington Ingalls Industries from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, May 6th. Four analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $374.00.

Insider Buying and Selling at Huntington Ingalls Industries

In other news, VP Edmond E. Jr. Hughes sold 3,500 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, the vice president directly owned 8,391 shares in the company, valued at approximately $2,681,595.78. The trade was a 29.43% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.80% of the company’s stock.

Huntington Ingalls Industries Stock Down 0.7%

Shares of Huntington Ingalls Industries stock opened at $277.99 on Thursday. Huntington Ingalls Industries, Inc. has a 1-year low of $250.91 and a 1-year high of $460.00. The business has a 50-day moving average of $299.87 and a 200-day moving average of $365.01. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.19 and a quick ratio of 1.11. The company has a market capitalization of $10.95 billion, a PE ratio of 18.09, a P/E/G ratio of 1.20 and a beta of 0.25.

Huntington Ingalls Industries (NYSE:HII) last announced its earnings results on Tuesday, May 5th. The aerospace company reported $3.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.70 by $0.09. The company had revenue of $3.10 billion for the quarter, compared to analyst estimates of $3.02 billion. Huntington Ingalls Industries had a return on equity of 12.05% and a net margin of 4.71%.Huntington Ingalls Industries’s quarterly revenue was up 13.4% on a year-over-year basis. During the same period in the prior year, the company posted $3.79 EPS. As a group, equities analysts forecast that Huntington Ingalls Industries, Inc. will post 17.33 EPS for the current fiscal year.

Huntington Ingalls Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 12th. Investors of record on Friday, May 29th were issued a $1.38 dividend. This represents a $5.52 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend was Friday, May 29th. Huntington Ingalls Industries’s payout ratio is currently 35.91%.

Huntington Ingalls Industries 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.