Sumitomo Mitsui Asset Management Company LTD decreased its stake in Huntington Ingalls Industries, Inc. (NYSE:HII) by 13.3% during the second quarter, Holdings Channel reports. The institutional investor owned 3,196 shares of the aerospace company’s stock after selling 489 shares during the period. Sumitomo Mitsui Asset Management Company LTD’s holdings in Huntington Ingalls Industries were worth $594,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Tower Research Capital LLC TRC boosted its stake in shares of Huntington Ingalls Industries by 25.0% in the first quarter. Tower Research Capital LLC TRC now owns 500 shares of the aerospace company’s stock valued at $100,000 after buying an additional 100 shares in the last quarter. Huntington National Bank boosted its stake in shares of Huntington Ingalls Industries by 112.9% in the first quarter. Huntington National Bank now owns 511 shares of the aerospace company’s stock valued at $102,000 after buying an additional 271 shares in the last quarter. Toronto Dominion Bank boosted its stake in shares of Huntington Ingalls Industries by 30.6% in the first quarter. Toronto Dominion Bank now owns 529 shares of the aerospace company’s stock valued at $106,000 after buying an additional 124 shares in the last quarter. Israel Discount Bank of New York acquired a new stake in shares of Huntington Ingalls Industries during the first quarter valued at about $115,000. Finally, Van ECK Associates Corp boosted its stake in shares of Huntington Ingalls Industries by 6.3% in the first quarter. Van ECK Associates Corp now owns 673 shares of the aerospace company’s stock valued at $135,000 after buying an additional 40 shares in the last quarter. 85.98% of the stock is currently owned by institutional investors and hedge funds.

Shares of Huntington Ingalls Industries, Inc. (NYSE HII) opened at 214.76 on Thursday. The stock has a market capitalization of $9.88 billion, a price-to-earnings ratio of 18.14 and a beta of 1.18. Huntington Ingalls Industries, Inc. has a 1-year low of $146.52 and a 1-year high of $220.68. The company’s 50 day moving average is $198.48 and its 200-day moving average is $200.59.

Huntington Ingalls Industries (NYSE:HII) last released its quarterly earnings results on Thursday, August 3rd. The aerospace company reported $3.21 EPS for the quarter, topping the consensus estimate of $2.62 by $0.59. The firm had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.79 billion. Huntington Ingalls Industries had a return on equity of 31.12% and a net margin of 7.93%. Huntington Ingalls Industries’s revenue for the quarter was up 9.3% on a year-over-year basis. During the same period in the previous year, the company posted $2.32 EPS. Equities analysts anticipate that Huntington Ingalls Industries, Inc. will post $11.45 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 8th. Investors of record on Friday, August 25th will be given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 1.12%. The ex-dividend date is Wednesday, August 23rd. Huntington Ingalls Industries’s dividend payout ratio (DPR) is presently 19.61%.

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HII has been the topic of several research reports. Deutsche Bank AG reissued a “buy” rating and set a $240.00 price target (up previously from $230.00) on shares of Huntington Ingalls Industries in a research report on Wednesday. BidaskClub raised shares of Huntington Ingalls Industries from a “hold” rating to a “buy” rating in a research report on Thursday, August 3rd. Zacks Investment Research raised shares of Huntington Ingalls Industries from a “hold” rating to a “buy” rating and set a $222.00 price target on the stock in a research report on Monday, July 17th. Cowen and Company reissued a “hold” rating and set a $210.00 price target on shares of Huntington Ingalls Industries in a research report on Thursday, May 4th. Finally, Credit Suisse Group reduced their price target on shares of Huntington Ingalls Industries from $214.00 to $206.00 and set a “neutral” rating on the stock in a research report on Monday, May 15th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $205.00.

In other Huntington Ingalls Industries news, VP Jennifer R. Boykin sold 2,362 shares of the company’s stock in a transaction that occurred on Wednesday, July 12th. The stock was sold at an average price of $196.00, for a total value of $462,952.00. Following the transaction, the vice president now directly owns 6,425 shares of the company’s stock, valued at approximately $1,259,300. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Christopher D. Kastner bought 4,183 shares of the business’s stock in a transaction on Wednesday, May 24th. The stock was acquired at an average cost of $189.40 per share, for a total transaction of $792,260.20. Following the completion of the transaction, the vice president now owns 39,464 shares in the company, valued at $7,474,481.60. The disclosure for this purchase can be found here. Insiders have sold a total of 4,764 shares of company stock worth $930,588 over the last three months. 2.22% of the stock is currently owned by corporate insiders.

About Huntington Ingalls Industries

Huntington Ingalls Industries, Inc is a military shipbuilding company and a provider of professional services to partners in government and industry. The Company’s business consists of the design, construction, repair and maintenance of nuclear-powered ships and non-nuclear ships for the United States Navy and coastal defense surface ships for the United States Coast Guard, as well as the refueling and overhaul and inactivation of nuclear-powered ships for the United States Navy.

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Institutional Ownership by Quarter for Huntington Ingalls Industries (NYSE:HII)

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