Pinnacle West Asset Management Inc. Increases Holdings in Huntington Ingalls Industries, Inc. (NYSE:HII)

Pinnacle West Asset Management Inc. lifted its position in Huntington Ingalls Industries, Inc. (NYSE:HII) by 6.1% in the 3rd quarter, HoldingsChannel reports. The firm owned 1,295 shares of the aerospace company’s stock after purchasing an additional 75 shares during the quarter. Pinnacle West Asset Management Inc.’s holdings in Huntington Ingalls Industries were worth $342,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently modified their holdings of the company. Riverview Trust Co purchased a new position in shares of Huntington Ingalls Industries in the first quarter worth about $30,000. Fidelis Capital Partners LLC purchased a new position in shares of Huntington Ingalls Industries in the first quarter worth about $31,000. Larson Financial Group LLC grew its holdings in Huntington Ingalls Industries by 158.5% during the first quarter. Larson Financial Group LLC now owns 106 shares of the aerospace company’s stock worth $31,000 after acquiring an additional 65 shares during the period. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Huntington Ingalls Industries during the second quarter worth about $26,000. Finally, Evermay Wealth Management LLC acquired a new stake in Huntington Ingalls Industries during the first quarter worth about $31,000. 90.46% of the stock is currently owned by hedge funds and other institutional investors.

Huntington Ingalls Industries Price Performance

HII traded up $0.04 during trading on Thursday, hitting $256.04. The company’s stock had a trading volume of 34,871 shares, compared to its average volume of 303,563. The company has a current ratio of 0.82, a quick ratio of 0.76 and a debt-to-equity ratio of 0.41. Huntington Ingalls Industries, Inc. has a twelve month low of $213.02 and a twelve month high of $299.50. The business’s fifty day simple moving average is $265.86 and its 200 day simple moving average is $260.92. The firm has a market capitalization of $10.10 billion, a price-to-earnings ratio of 14.50, a P/E/G ratio of 2.25 and a beta of 0.52.

Huntington Ingalls Industries (NYSE:HII) last issued its quarterly earnings data on Thursday, August 1st. The aerospace company reported $4.38 EPS for the quarter, beating the consensus estimate of $3.61 by $0.77. The company had revenue of $2.98 billion for the quarter, compared to analyst estimates of $2.84 billion. Huntington Ingalls Industries had a return on equity of 18.55% and a net margin of 6.35%. Huntington Ingalls Industries’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same period last year, the company earned $3.27 earnings per share. On average, equities research analysts forecast that Huntington Ingalls Industries, Inc. will post 16.56 EPS for the current fiscal year.

Huntington Ingalls Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were issued a $1.30 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a $5.20 annualized dividend and a dividend yield of 2.03%. Huntington Ingalls Industries’s dividend payout ratio is presently 29.31%.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. JPMorgan Chase & Co. lowered Huntington Ingalls Industries from an “overweight” rating to a “neutral” rating and raised their target price for the stock from $280.00 to $285.00 in a report on Monday, September 9th. StockNews.com lowered Huntington Ingalls Industries from a “buy” rating to a “hold” rating in a report on Wednesday. Wolfe Research lowered Huntington Ingalls Industries from an “outperform” rating to a “peer perform” rating in a report on Thursday, October 10th. Finally, Vertical Research lowered Huntington Ingalls Industries from a “buy” rating to a “hold” rating and set a $275.00 price objective on the stock. in a report on Thursday, October 10th. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, Huntington Ingalls Industries presently has a consensus rating of “Hold” and a consensus price target of $290.00.

About Huntington Ingalls Industries

Huntington Ingalls Industries, Inc designs, builds, overhauls, and repairs military ships in the United States. It operates through three segments: Ingalls, Newport News, and Mission Technologies. The company is involved in the design and construction of non-nuclear ships comprising amphibious assault ships; expeditionary warfare ships; surface combatants; and national security cutters for the U.S.