Janney Montgomery Scott LLC Sells 4,150 Shares of Huntington Ingalls Industries Inc (HII)
Janney Montgomery Scott LLC cut its stake in Huntington Ingalls Industries Inc (NYSE:HII) by 30.6% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 9,409 shares of the aerospace company’s stock after selling 4,150 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Huntington Ingalls Industries were worth $2,131,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Cambria Investment Management L.P. purchased a new position in shares of Huntington Ingalls Industries in the third quarter valued at $941,000. Ladenburg Thalmann Financial Services Inc. grew its position in shares of Huntington Ingalls Industries by 37.1% in the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,093 shares of the aerospace company’s stock valued at $474,000 after purchasing an additional 566 shares in the last quarter. Cubist Systematic Strategies LLC grew its position in shares of Huntington Ingalls Industries by 58.3% in the third quarter. Cubist Systematic Strategies LLC now owns 2,793 shares of the aerospace company’s stock valued at $632,000 after purchasing an additional 1,029 shares in the last quarter. Earnest Partners LLC grew its position in shares of Huntington Ingalls Industries by 3.1% in the third quarter. Earnest Partners LLC now owns 169,589 shares of the aerospace company’s stock valued at $38,402,000 after purchasing an additional 5,142 shares in the last quarter. Finally, Vident Investment Advisory LLC purchased a new position in shares of Huntington Ingalls Industries in the third quarter valued at $464,000. Institutional investors own 84.23% of the company’s stock.
In other news, VP D R. Wyatt sold 800 shares of the company’s stock in a transaction dated Monday, November 13th. The stock was sold at an average price of $240.33, for a total value of $192,264.00. Following the completion of the transaction, the vice president now directly owns 19,065 shares in the company, valued at approximately $4,581,891.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Philip M. Bilden acquired 2,200 shares of the business’s stock in a transaction dated Friday, November 24th. The stock was purchased at an average price of $234.11 per share, with a total value of $515,042.00. The disclosure for this purchase can be found here. 2.22% of the stock is currently owned by corporate insiders.
Huntington Ingalls Industries Inc (NYSE HII) opened at $238.83 on Monday. Huntington Ingalls Industries Inc has a 52-week low of $179.61 and a 52-week high of $253.44. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.38 and a current ratio of 1.52. The company has a market capitalization of $10,816.02, a PE ratio of 19.88, a P/E/G ratio of 1.33 and a beta of 1.17.
Huntington Ingalls Industries (NYSE:HII) last posted its earnings results on Wednesday, November 8th. The aerospace company reported $3.27 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.78 by $0.49. Huntington Ingalls Industries had a return on equity of 33.37% and a net margin of 8.31%. The business had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.80 billion. During the same period in the previous year, the business earned $2.27 earnings per share. The firm’s revenue was up 10.7% on a year-over-year basis. equities research analysts predict that Huntington Ingalls Industries Inc will post 12.01 EPS for the current year.
Huntington Ingalls Industries declared that its board has initiated a share repurchase program on Tuesday, November 7th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the aerospace company to repurchase shares of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s management believes its shares are undervalued.
The company also recently disclosed a quarterly dividend, which was paid on Friday, December 8th. Stockholders of record on Friday, November 24th were issued a $0.72 dividend. This is a boost from Huntington Ingalls Industries’s previous quarterly dividend of $0.60. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.21%. The ex-dividend date was Wednesday, November 22nd. Huntington Ingalls Industries’s dividend payout ratio is presently 21.75%.
Several equities analysts recently commented on the company. BidaskClub cut Huntington Ingalls Industries from a “buy” rating to a “hold” rating in a research report on Wednesday, August 23rd. Cowen restated a “hold” rating and set a $225.00 target price on shares of Huntington Ingalls Industries in a research report on Friday, October 6th. Credit Suisse Group restated a “neutral” rating and set a $241.00 target price (up from $211.00) on shares of Huntington Ingalls Industries in a research report on Thursday, November 9th. Zacks Investment Research upgraded Huntington Ingalls Industries from a “hold” rating to a “buy” rating and set a $282.00 target price for the company in a research report on Friday, November 10th. Finally, ValuEngine upgraded Huntington Ingalls Industries from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Two analysts have rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company’s stock. Huntington Ingalls Industries has a consensus rating of “Hold” and an average price target of $222.57.
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Huntington Ingalls Industries Company Profile
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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