Canada Pension Plan Investment Board Decreases Position in Huntington Ingalls Industries, Inc. $HII

Canada Pension Plan Investment Board decreased its position in Huntington Ingalls Industries, Inc. (NYSE:HII) by 9.6% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 58,740 shares of the aerospace company’s stock after selling 6,236 shares during the period. Canada Pension Plan Investment Board’s holdings in Huntington Ingalls Industries were worth $16,441,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in HII. BlackRock Inc. purchased a new stake in shares of Huntington Ingalls Industries in the 2nd quarter worth about $944,877,000. Northwestern Mutual Wealth Management Co. increased its holdings in Huntington Ingalls Industries by 38,526.6% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,986,567 shares of the aerospace company’s stock valued at $675,572,000 after acquiring an additional 1,981,424 shares in the last quarter. AQR Capital Management LLC increased its holdings 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 valued at $369,186,000 after acquiring an additional 498,690 shares in the last quarter. Van ECK Associates Corp raised its position in Huntington Ingalls Industries by 32.1% during the fourth quarter. Van ECK Associates Corp now owns 1,646,733 shares of the aerospace company’s stock worth $560,004,000 after acquiring an additional 400,428 shares during the last quarter. Finally, Marshall Wace LLP raised its position in Huntington Ingalls Industries by 588.1% during the fourth quarter. Marshall Wace LLP now owns 351,879 shares of the aerospace company’s stock worth $119,663,000 after acquiring an additional 300,740 shares during the last quarter. Hedge funds and other institutional investors own 90.46% of the company’s stock.

Insider Transactions at Huntington Ingalls Industries

In related news, CEO Christopher D. Kastner sold 13,070 shares of the firm’s stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $324.92, for a total transaction of $4,246,704.40. Following the sale, the chief executive officer owned 11,224 shares in the company, valued at approximately $3,646,902.08. This trade represents a 53.80% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.80% of the company’s stock.

Huntington Ingalls Industries Trading Down 1.1%

Shares of HII stock opened at $294.09 on Friday. The company has a market capitalization of $11.59 billion, a price-to-earnings ratio of 17.53, a PEG ratio of 1.12 and a beta of 0.24. The company has a current ratio of 1.23, a quick ratio of 1.14 and a debt-to-equity ratio of 0.51. The firm has a 50-day moving average price of $296.49 and a 200 day moving average price of $344.86. Huntington Ingalls Industries, Inc. has a twelve month low of $263.62 and a twelve month high of $460.00.

Huntington Ingalls Industries (NYSE:HII) last released its quarterly earnings results on Thursday, July 30th. The aerospace company reported $5.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.79 by $1.48. The company had revenue of $3.42 billion for the quarter, compared to analysts’ expectations of $3.15 billion. Huntington Ingalls Industries had a net margin of 5.01% and a return on equity of 12.89%. The firm’s revenue for the quarter was up 10.9% compared to the same quarter last year. During the same period last year, the company earned $3.86 EPS. Research analysts forecast that Huntington Ingalls Industries, Inc. will post 18.47 earnings per share for the current fiscal year.

Huntington Ingalls Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 11th. Investors of record on Friday, August 28th will be paid a dividend of $1.38 per share. The ex-dividend date of this dividend is Friday, August 28th. This represents a $5.52 annualized dividend and a dividend yield of 1.9%. Huntington Ingalls Industries’s dividend payout ratio is presently 32.90%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on HII. Wall Street Zen lowered shares of Huntington Ingalls Industries from a “buy” rating to a “hold” rating in a research report on Monday, May 18th. Citigroup lifted their price objective on Huntington Ingalls Industries from $349.00 to $379.00 and gave the stock a “buy” rating in a research report on Friday, July 31st. Wells Fargo & Company upped their target price on Huntington Ingalls Industries from $325.00 to $340.00 and gave the company an “equal weight” rating in a research note on Tuesday, August 4th. Weiss Ratings cut Huntington Ingalls Industries from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday, August 17th. Finally, Sanford C. Bernstein set a $341.00 price target on Huntington Ingalls Industries in a research report on Tuesday. Five equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, Huntington Ingalls Industries has an average rating of “Moderate Buy” and an average target price of $368.88.

Huntington Ingalls Industries Company 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.