Huntington Ingalls Industries, Inc. $HII Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. lessened its stake in shares of Huntington Ingalls Industries, Inc. (NYSE:HII) by 5.4% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 147,323 shares of the aerospace company’s stock after selling 8,420 shares during the period. Principal Financial Group Inc. owned 0.38% of Huntington Ingalls Industries worth $55,975,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of HII. Geneos Wealth Management Inc. raised its stake in Huntington Ingalls Industries by 40.1% during the first quarter. Geneos Wealth Management Inc. now owns 206 shares of the aerospace company’s stock worth $42,000 after purchasing an additional 59 shares during the period. EverSource Wealth Advisors LLC grew its stake 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 valued at $88,000 after buying an additional 280 shares during the period. Marshall Wace LLP grew its stake 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 buying an additional 30,975 shares during the period. Cresset Asset Management LLC increased its holdings 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 worth $381,000 after buying an additional 294 shares during the last quarter. Finally, Jump Financial LLC purchased a new stake in shares of Huntington Ingalls Industries during the 2nd quarter valued at approximately $398,000. Institutional investors and hedge funds own 90.46% of the company’s stock.

Huntington Ingalls Industries Trading Down 0.6%

HII opened at $269.33 on Friday. Huntington Ingalls Industries, Inc. has a 52 week low of $250.91 and a 52 week high of $460.00. The company has a quick ratio of 1.11, a current ratio of 1.19 and a debt-to-equity ratio of 0.52. The business has a fifty day simple moving average of $298.06 and a 200-day simple moving average of $363.78. The firm has a market cap of $10.61 billion, a P/E ratio of 17.52, a P/E/G ratio of 1.16 and a beta of 0.25.

Huntington Ingalls Industries (NYSE:HII) last posted its earnings results on Tuesday, May 5th. The aerospace company reported $3.79 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $3.02 billion. During the same quarter in the prior year, the company earned $3.79 EPS. Huntington Ingalls Industries’s revenue was up 13.4% on a year-over-year basis. On average, equities analysts expect that Huntington Ingalls Industries, Inc. will post 17.31 earnings per share for the current year.

Huntington Ingalls Industries Dividend Announcement

The firm 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. This represents a $5.52 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend was Friday, May 29th. Huntington Ingalls Industries’s dividend payout ratio is currently 35.91%.

Insider Activity

In other news, VP Edmond E. Jr. Hughes sold 3,500 shares of the firm’s stock in a transaction that occurred on 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 completion of the transaction, the vice president owned 8,391 shares of the company’s stock, valued at approximately $2,681,595.78. This trade represents a 29.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on HII. TD Cowen decreased their price objective on Huntington Ingalls Industries from $420.00 to $360.00 and set a “buy” rating on the stock in a report on Monday, July 13th. Wells Fargo & Company assumed coverage on Huntington Ingalls Industries in a research report on Wednesday, April 1st. They issued an “equal weight” rating and a $400.00 target price on the stock. Citigroup decreased their price target on Huntington Ingalls Industries from $405.00 to $349.00 and set a “buy” rating on the stock in a research note on Wednesday, July 1st. Weiss Ratings cut Huntington Ingalls Industries from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, May 6th. Finally, Wall Street Zen downgraded Huntington Ingalls Industries from a “buy” rating to a “hold” rating in a research report on Monday, May 18th. Four analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat.com, Huntington Ingalls Industries presently has a consensus rating of “Hold” and a consensus price target of $374.00.

Huntington Ingalls Industries Company Profile

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.