VIRGINIA RETIREMENT SYSTEMS ET Al Acquires New Holdings in Huntington Ingalls Industries, Inc. $HII

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of Huntington Ingalls Industries, Inc. (NYSE:HII) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 8,490 shares of the aerospace company’s stock, valued at approximately $2,376,000.

Several other institutional investors have also bought and sold shares of the stock. California State Teachers Retirement System increased its stake in Huntington Ingalls Industries by 27,982.9% during the 2nd quarter. California State Teachers Retirement System now owns 12,808,326 shares of the aerospace company’s stock valued at $3,584,922,000 after buying an additional 12,762,717 shares during the period. BlackRock Inc. bought a new stake in shares of Huntington Ingalls Industries during the 2nd quarter worth about $944,877,000. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Huntington Ingalls Industries by 38,526.6% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,986,567 shares of the aerospace company’s stock worth $675,572,000 after acquiring an additional 1,981,424 shares during the period. Van ECK Associates Corp boosted its holdings in shares of Huntington Ingalls Industries by 32.1% in the fourth quarter. Van ECK Associates Corp now owns 1,646,733 shares of the aerospace company’s stock valued at $560,004,000 after acquiring an additional 400,428 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of Huntington Ingalls Industries by 5.3% in the fourth quarter. Geode Capital Management LLC now owns 1,116,501 shares of the aerospace company’s stock valued at $379,098,000 after acquiring an additional 56,618 shares in the last quarter. Institutional investors and hedge funds own 90.46% of the company’s stock.

Insider Buying and Selling at Huntington Ingalls Industries

In other news, CEO Christopher Kastner sold 13,070 shares of the firm’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 completion of the sale, the chief executive officer directly owned 11,224 shares of the company’s stock, valued at $3,646,902.08. This trade represents a 53.80% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.80% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on HII shares. Wells Fargo & Company boosted their target price on Huntington Ingalls Industries from $325.00 to $340.00 and gave the stock an “equal weight” rating in a report on Tuesday, August 4th. TD Cowen decreased their price target on Huntington Ingalls Industries from $420.00 to $360.00 and set a “buy” rating for the company in a research note on Monday, July 13th. Citigroup lifted their price target on Huntington Ingalls Industries from $349.00 to $379.00 and gave the company a “buy” rating in a research report on Friday, July 31st. Weiss Ratings upgraded Huntington Ingalls Industries from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday, August 31st. Finally, Wolfe Research raised Huntington Ingalls Industries from a “peer perform” rating to an “outperform” rating and set a $364.00 target price for the company in a research note on Friday, July 31st. Five research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $368.88.

Huntington Ingalls Industries Stock Up 0.4%

NYSE HII opened at $281.94 on Friday. Huntington Ingalls Industries, Inc. has a 12 month low of $263.62 and a 12 month high of $460.00. The company has a market capitalization of $11.11 billion, a P/E ratio of 16.80, a PEG ratio of 1.06 and a beta of 0.23. The company’s 50 day simple moving average is $297.61 and its 200 day simple moving average is $336.15. 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 (NYSE:HII) last issued its earnings results on Thursday, July 30th. The aerospace company reported $5.27 earnings per share for the quarter, topping analysts’ consensus estimates of $3.79 by $1.48. The firm had revenue of $3.42 billion during the quarter, compared to analysts’ expectations of $3.15 billion. Huntington Ingalls Industries had a net margin of 5.01% and a return on equity of 12.89%. The firm’s revenue for the quarter was up 10.9% compared to the same quarter last year. During the same period last year, the firm posted $3.86 earnings per share. Equities research analysts expect that Huntington Ingalls Industries, Inc. will post 18.47 earnings per share for the current fiscal year.

Huntington Ingalls Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 11th. Stockholders of record on Friday, August 28th will be given a dividend of $1.38 per share. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date is Friday, August 28th. Huntington Ingalls Industries’s dividend payout ratio is 32.90%.

Huntington Ingalls Industries Company Profile

Huntington Ingalls Industries, Inc (NYSE:HII) is a U.S. defense company focused on designing, building, modernizing and maintaining military ships and providing technology services to government customers. It is the largest military shipbuilding company in the United States and one of the few companies capable of designing and constructing nuclear-powered aircraft carriers and submarines.

HII operates through three primary businesses: Newport News Shipbuilding, Ingalls Shipbuilding and Mission Technologies.