Janney Montgomery Scott LLC grew its stake in Huntington Ingalls Industries Inc (NYSE:HII) by 62.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,468 shares of the aerospace company’s stock after acquiring an additional 4,807 shares during the period. Janney Montgomery Scott LLC’s holdings in Huntington Ingalls Industries were worth $3,193,000 at the end of the most recent reporting period.
A number of other hedge funds also recently modified their holdings of HII. First Command Financial Services Inc. purchased a new stake in shares of Huntington Ingalls Industries in the 2nd quarter worth approximately $101,000. First Command Bank purchased a new stake in shares of Huntington Ingalls Industries in the 2nd quarter worth approximately $101,000. Piedmont Investment Advisors LLC purchased a new stake in shares of Huntington Ingalls Industries in the 2nd quarter worth approximately $110,000. Ayalon Holdings Ltd. purchased a new stake in shares of Huntington Ingalls Industries in the 3rd quarter worth approximately $110,000. Finally, Welch Group LLC purchased a new stake in shares of Huntington Ingalls Industries in the 3rd quarter worth approximately $110,000. Institutional investors and hedge funds own 85.83% of the company’s stock.
In related news, VP Jerri F. Dickseski sold 271 shares of the stock in a transaction that occurred on Monday, October 1st. The shares were sold at an average price of $257.84, for a total transaction of $69,874.64. Following the completion of the sale, the vice president now owns 34,750 shares of the company’s stock, valued at $8,959,940. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 2.22% of the company’s stock.
Huntington Ingalls Industries (NYSE:HII) last posted its earnings results on Thursday, November 8th. The aerospace company reported $5.29 EPS for the quarter, beating the Zacks’ consensus estimate of $4.14 by $1.15. Huntington Ingalls Industries had a net margin of 8.63% and a return on equity of 43.71%. The company had revenue of $2.08 billion during the quarter, compared to analysts’ expectations of $1.90 billion. During the same quarter in the prior year, the company posted $3.27 earnings per share. Huntington Ingalls Industries’s revenue for the quarter was up 11.8% compared to the same quarter last year. As a group, equities analysts anticipate that Huntington Ingalls Industries Inc will post 17.84 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 14th. Investors of record on Friday, November 30th will be given a dividend of $0.86 per share. This is a boost from Huntington Ingalls Industries’s previous quarterly dividend of $0.72. The ex-dividend date is Thursday, November 29th. This represents a $3.44 dividend on an annualized basis and a yield of 1.59%. Huntington Ingalls Industries’s dividend payout ratio is presently 23.72%.
Several equities research analysts have recently weighed in on the stock. Bank of America lowered their price target on shares of Huntington Ingalls Industries from $335.00 to $305.00 and set a “buy” rating for the company in a research report on Friday, November 9th. Goldman Sachs Group cut shares of Huntington Ingalls Industries from a “neutral” rating to a “sell” rating and set a $208.00 price target for the company. in a research report on Thursday, October 11th. Buckingham Research assumed coverage on shares of Huntington Ingalls Industries in a research report on Wednesday, September 12th. They issued a “buy” rating and a $297.00 price target for the company. Sanford C. Bernstein lowered their price target on shares of Huntington Ingalls Industries from $246.00 to $223.00 in a research report on Monday, November 12th. Finally, Drexel Hamilton reaffirmed a “buy” rating and issued a $265.00 price target on shares of Huntington Ingalls Industries in a research report on Wednesday. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and ten have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $259.31.
About Huntington Ingalls Industries
Huntington Ingalls Industries, Inc engages in the designing, building, overhauling, and repairing military ships in the United States. It operates through three segments: Ingalls Shipbuilding, Newport News Shipbuilding, and Technical Solutions. The company is involved in the design and construction of non-nuclear ships comprising amphibious assault ships that include deck amphibious ships and transport dock ships; surface combatants; and national security cutters for the U.S.
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