ICICI Prudential Asset Management Co Ltd Decreases Stock Position in Huntington Ingalls Industries, Inc. $HII

ICICI Prudential Asset Management Co Ltd cut its stake in Huntington Ingalls Industries, Inc. (NYSE:HII) by 8.8% in the third quarter, Holdings Channel reports. The institutional investor owned 38,679 shares of the aerospace company’s stock after selling 3,726 shares during the period. Huntington Ingalls Industries makes up about 1.2% of ICICI Prudential Asset Management Co Ltd’s investment portfolio, making the stock its 13th biggest holding. ICICI Prudential Asset Management Co Ltd’s holdings in Huntington Ingalls Industries were worth $11,136,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of HII. NewEdge Wealth LLC lifted its holdings in shares of Huntington Ingalls Industries by 12.5% in the 3rd quarter. NewEdge Wealth LLC now owns 874 shares of the aerospace company’s stock worth $268,000 after acquiring an additional 97 shares during the last quarter. CenterBook Partners LP raised its position in Huntington Ingalls Industries by 140.5% in the 3rd quarter. CenterBook Partners LP now owns 4,615 shares of the aerospace company’s stock worth $1,329,000 after purchasing an additional 2,696 shares during the period. Syon Capital LLC bought a new stake in Huntington Ingalls Industries in the third quarter worth about $204,000. Axxcess Wealth Management LLC purchased a new position in shares of Huntington Ingalls Industries during the third quarter valued at approximately $212,000. Finally, NEOS Investment Management LLC bought a new position in shares of Huntington Ingalls Industries during the third quarter valued at approximately $588,000. Institutional investors own 90.46% of the company’s stock.

Analyst Ratings Changes

HII has been the topic of several recent analyst reports. The Goldman Sachs Group increased their price target on Huntington Ingalls Industries from $384.00 to $425.00 and gave the stock a “buy” rating in a report on Tuesday, January 20th. JPMorgan Chase & Co. increased their target price on Huntington Ingalls Industries from $287.00 to $342.00 and gave the stock a “neutral” rating in a research note on Monday, November 3rd. Sanford C. Bernstein reiterated a “market perform” rating and set a $421.00 target price on shares of Huntington Ingalls Industries in a research report on Wednesday, February 11th. Citigroup upped their price target on shares of Huntington Ingalls Industries from $450.00 to $465.00 and gave the stock a “buy” rating in a report on Tuesday, February 10th. Finally, Melius Research raised shares of Huntington Ingalls Industries from a “hold” rating to a “buy” rating in a research note on Monday, January 5th. Five research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $370.38.

Insider Activity at Huntington Ingalls Industries

In related news, VP Chad N. Boudreaux sold 787 shares of the company’s stock in a transaction on Wednesday, November 26th. The stock was sold at an average price of $314.17, for a total transaction of $247,251.79. Following the completion of the sale, the vice president directly owned 20,441 shares in the company, valued at $6,421,948.97. This represents a 3.71% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Insiders own 0.72% of the company’s stock.

Huntington Ingalls Industries Trading Up 4.2%

NYSE HII opened at $442.61 on Friday. Huntington Ingalls Industries, Inc. has a one year low of $167.70 and a one year high of $443.32. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.06 and a current ratio of 1.13. The company has a market capitalization of $17.37 billion, a price-to-earnings ratio of 28.80, a price-to-earnings-growth ratio of 1.73 and a beta of 0.34. The company’s 50-day simple moving average is $387.04 and its two-hundred day simple moving average is $323.06.

Huntington Ingalls Industries (NYSE:HII) last released its quarterly earnings data on Thursday, February 5th. The aerospace company reported $4.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.72 by $0.32. The firm had revenue of $3.48 billion for the quarter, compared to the consensus estimate of $3.09 billion. Huntington Ingalls Industries had a net margin of 4.85% and a return on equity of 12.28%. The company’s quarterly revenue was up 15.7% on a year-over-year basis. During the same period last year, the firm earned $3.15 earnings per share. Equities analysts forecast that Huntington Ingalls Industries, Inc. will post 13.99 EPS for the current fiscal year.

Huntington Ingalls Industries Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 13th. Stockholders of record on Friday, February 27th will be issued a $1.38 dividend. The ex-dividend date is Friday, February 27th. This represents a $5.52 dividend on an annualized basis and a dividend yield of 1.2%. Huntington Ingalls Industries’s dividend payout ratio (DPR) 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.