Huntington Ingalls Industries, Inc. $HII Position Boosted by Patton Fund Management Inc.

Patton Fund Management Inc. increased its position in Huntington Ingalls Industries, Inc. (NYSE:HII) by 1,377.2% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 10,606 shares of the aerospace company’s stock after purchasing an additional 9,888 shares during the period. Huntington Ingalls Industries accounts for about 0.7% of Patton Fund Management Inc.’s investment portfolio, making the stock its 27th biggest holding. Patton Fund Management Inc.’s holdings in Huntington Ingalls Industries were worth $4,029,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of HII. Geneos Wealth Management Inc. lifted its holdings in Huntington Ingalls Industries by 40.1% during the 1st quarter. Geneos Wealth Management Inc. now owns 206 shares of the aerospace company’s stock worth $42,000 after buying an additional 59 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in shares of Huntington Ingalls Industries by 329.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 365 shares of the aerospace company’s stock worth $88,000 after acquiring an additional 280 shares in the last quarter. Marshall Wace LLP increased its holdings in shares of Huntington Ingalls Industries by 432.1% in the 2nd quarter. Marshall Wace LLP now owns 38,144 shares of the aerospace company’s stock valued at $9,210,000 after acquiring an additional 30,975 shares during the last quarter. Cresset Asset Management LLC raised its position in shares of Huntington Ingalls Industries by 23.0% during the 2nd quarter. Cresset Asset Management LLC now owns 1,575 shares of the aerospace company’s stock valued at $381,000 after acquiring an additional 294 shares in the last quarter. Finally, Jump Financial LLC acquired a new stake in shares of Huntington Ingalls Industries during the 2nd quarter valued at approximately $398,000. 90.46% of the stock is owned by institutional investors.

Huntington Ingalls Industries Trading Down 0.3%

Shares of NYSE HII opened at $281.28 on Monday. Huntington Ingalls Industries, Inc. has a 12-month low of $236.65 and a 12-month high of $460.00. The company has a market cap of $11.08 billion, a price-to-earnings ratio of 18.30, a price-to-earnings-growth ratio of 1.19 and a beta of 0.23. The company has a current ratio of 1.19, a quick ratio of 1.11 and a debt-to-equity ratio of 0.52. The stock’s 50 day simple moving average is $320.78 and its 200 day simple moving average is $369.58.

Huntington Ingalls Industries (NYSE:HII) last issued its quarterly earnings data on Tuesday, May 5th. The aerospace company reported $3.79 EPS for the quarter, topping analysts’ consensus estimates of $3.70 by $0.09. Huntington Ingalls Industries had a return on equity of 12.05% and a net margin of 4.71%.The firm had revenue of $3.10 billion during the quarter, compared to the consensus estimate of $3.02 billion. During the same period in the prior year, the business earned $3.79 EPS. The firm’s revenue was up 13.4% on a year-over-year basis. Equities research analysts expect that Huntington Ingalls Industries, Inc. will post 17.32 EPS for the current year.

Huntington Ingalls Industries Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 12th. Stockholders of record on Friday, May 29th were given a dividend of $1.38 per share. The ex-dividend date was Friday, May 29th. This represents a $5.52 annualized dividend and a dividend yield of 2.0%. Huntington Ingalls Industries’s dividend payout ratio is currently 35.91%.

Analyst Upgrades and Downgrades

HII has been the subject of a number of research reports. TD Cowen decreased their price objective on shares of Huntington Ingalls Industries from $460.00 to $420.00 and set a “buy” rating for the company in a report on Thursday, May 14th. Wells Fargo & Company initiated coverage on shares of Huntington Ingalls Industries in a report on Wednesday, April 1st. They set an “equal weight” rating and a $400.00 target price on the stock. Wall Street Zen downgraded shares of Huntington Ingalls Industries from a “buy” rating to a “hold” rating in a research report on Monday, May 18th. Weiss Ratings lowered shares of Huntington Ingalls Industries from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, May 6th. Finally, Citigroup lowered their price objective on shares of Huntington Ingalls Industries from $441.00 to $405.00 and set a “buy” rating for the company in a research report on Monday, May 18th. Four analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Huntington Ingalls Industries has a consensus rating of “Hold” and a consensus target price of $388.50.

Insider Activity at Huntington Ingalls Industries

In related news, VP Edmond E. Jr. Hughes sold 3,500 shares of the stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $319.58, for a total value of $1,118,530.00. Following the sale, the vice president owned 8,391 shares of the company’s stock, valued at $2,681,595.78. This trade represents a 29.43% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.80% of the company’s stock.

About Huntington Ingalls Industries

Huntington Ingalls Industries (NYSE: HII) is America’s largest military shipbuilding company and a leading provider of professional services to the U.S. government. Headquartered in Newport News, Virginia, HII designs, constructs and maintains nuclear-powered aircraft carriers, submarines and other complex vessels for the U.S. Navy. The company’s products include nuclear aircraft carriers, Virginia-class and Columbia-class submarines, as well as amphibious assault ships, destroyers and cutters.

Established in 2011 as a spin-off from Northrop Grumman’s shipbuilding operations, HII traces its heritage to two historic builders: Newport News Shipbuilding, founded in the 19th century, and Ingalls Shipbuilding, founded in 1938.