Mitsubishi UFJ Asset Management Co. Ltd. Takes $14.55 Million Position in Huntington Ingalls Industries, Inc. $HII

Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in Huntington Ingalls Industries, Inc. (NYSE:HII) in the second quarter, HoldingsChannel reports. The fund acquired 52,000 shares of the aerospace company’s stock, valued at approximately $14,554,000.

Several other hedge funds have also bought and sold shares of the company. Roman Butler Fullerton & Co. bought a new position in Huntington Ingalls Industries during the second quarter worth $719,000. Longfellow Investment Management Co. LLC bought a new position in shares of Huntington Ingalls Industries in the second quarter valued at about $673,000. Diamond Hill Capital Management LLC Investment Advisor acquired a new stake in shares of Huntington Ingalls Industries during the 2nd quarter worth about $55,449,000. Global Retirement Partners LLC bought a new stake in shares of Huntington Ingalls Industries during the 2nd quarter worth about $803,000. Finally, Bank of New York Mellon Corp bought a new stake in shares of Huntington Ingalls Industries during the 2nd quarter worth about $75,094,000. 90.46% of the stock is currently owned by institutional investors and hedge funds.

Huntington Ingalls Industries Stock Down 3.1%

NYSE HII opened at $302.07 on Friday. The business has a fifty day moving average price of $296.30 and a two-hundred day moving average price of $349.11. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.23 and a quick ratio of 1.14. Huntington Ingalls Industries, Inc. has a fifty-two week low of $263.62 and a fifty-two week high of $460.00. The stock has a market capitalization of $11.90 billion, a PE ratio of 18.00, a PEG ratio of 1.17 and a beta of 0.24.

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

Huntington Ingalls Industries Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Shareholders of record on Friday, August 28th will be issued a $1.38 dividend. This represents a $5.52 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date is Friday, August 28th. Huntington Ingalls Industries’s payout ratio is presently 32.90%.

Insider Activity 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 transaction of $1,118,530.00. Following the completion of the sale, the vice president owned 8,391 shares in the company, valued at $2,681,595.78. The trade was a 29.43% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Christopher D. Kastner sold 13,070 shares of the company’s stock in a transaction on Monday, August 10th. The stock was sold at an average price of $324.92, for a total transaction of $4,246,704.40. Following the transaction, the chief executive officer owned 11,224 shares in the company, valued at approximately $3,646,902.08. The trade was a 53.80% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.80% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. TD Cowen decreased their target price on Huntington Ingalls Industries from $420.00 to $360.00 and set a “buy” rating on the stock in a research report on Monday, July 13th. Weiss Ratings cut Huntington Ingalls Industries from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday. Wells Fargo & Company boosted their price target 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. Wolfe Research raised Huntington Ingalls Industries from a “peer perform” rating to an “outperform” rating and set a $364.00 price objective on the stock in a report on Friday, July 31st. Finally, Wall Street Zen cut Huntington Ingalls Industries from a “buy” rating to a “hold” rating in a research report on Monday, May 18th. Five equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $378.88.

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.