Natixis cut its stake in Huntington Ingalls Industries Inc (NYSE:HII) by 46.0% in the 2nd quarter, Holdings Channel.com reports. The fund owned 25,055 shares of the aerospace company’s stock after selling 21,318 shares during the quarter. Natixis’ holdings in Huntington Ingalls Industries were worth $5,631,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Front Row Advisors LLC boosted its position in shares of Huntington Ingalls Industries by 610.5% during the 1st quarter. Front Row Advisors LLC now owns 135 shares of the aerospace company’s stock valued at $28,000 after purchasing an additional 116 shares in the last quarter. Zions Bancorporation N.A. grew its holdings in Huntington Ingalls Industries by 1,260.0% during the 2nd quarter. Zions Bancorporation N.A. now owns 136 shares of the aerospace company’s stock worth $31,000 after acquiring an additional 126 shares in the last quarter. Meridian Wealth Management LLC acquired a new position in Huntington Ingalls Industries during the 1st quarter worth approximately $39,000. Skandinaviska Enskilda Banken AB publ acquired a new position in Huntington Ingalls Industries during the 2nd quarter worth approximately $64,000. Finally, NEXT Financial Group Inc grew its holdings in Huntington Ingalls Industries by 52.3% during the 2nd quarter. NEXT Financial Group Inc now owns 492 shares of the aerospace company’s stock worth $111,000 after acquiring an additional 169 shares in the last quarter. 86.82% of the stock is owned by hedge funds and other institutional investors.
HII has been the subject of several analyst reports. Bank of America lowered their price target on shares of Huntington Ingalls Industries from $305.00 to $275.00 and set a “buy” rating for the company in a report on Tuesday, August 6th. Alembic Global Advisors upgraded shares of Huntington Ingalls Industries from a “neutral” rating to an “overweight” rating in a report on Monday, August 5th. Finally, Buckingham Research lowered their target price on shares of Huntington Ingalls Industries from $295.00 to $265.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the stock. Huntington Ingalls Industries has a consensus rating of “Hold” and an average target price of $240.10.
Huntington Ingalls Industries (NYSE:HII) last issued its earnings results on Thursday, August 1st. The aerospace company reported $3.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.56 by ($0.49). Huntington Ingalls Industries had a net margin of 8.04% and a return on equity of 42.07%. The company had revenue of $2.19 billion during the quarter, compared to analyst estimates of $2.13 billion. During the same quarter in the previous year, the company posted $5.40 EPS. The company’s quarterly revenue was up 8.3% on a year-over-year basis. Sell-side analysts expect that Huntington Ingalls Industries Inc will post 13.96 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Friday, August 30th will be issued a $0.86 dividend. This represents a $3.44 annualized dividend and a dividend yield of 1.57%. The ex-dividend date is Thursday, August 29th. Huntington Ingalls Industries’s payout ratio is 18.02%.
In other news, VP Jerri F. Dickseski sold 1,874 shares of the company’s stock in a transaction on Monday, July 8th. The shares were sold at an average price of $228.68, for a total value of $428,546.32. Following the completion of the transaction, the vice president now owns 34,033 shares in the company, valued at approximately $7,782,666.44. The sale was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 2.65% of the company’s stock.
Huntington Ingalls Industries Profile
Huntington Ingalls Industries, Inc engages in the designing, building, overhauling, and repairing military ships in the United States. It operates through three segments: Ingalls Shipbuilding, Newport News Shipbuilding, and Technical Solutions. The company is involved in the design and construction of non-nuclear ships comprising amphibious assault ships that include deck amphibious ships and transport dock ships; surface combatants; and national security cutters for the U.S.
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