Guggenheim Capital LLC Grows Stake in Huntington Ingalls Industries, Inc. (NYSE:HII)

Posted by Defense World Staff on Mar 5th, 2023

Guggenheim Capital LLC increased its holdings in shares of Huntington Ingalls Industries, Inc. (NYSE:HII – Get Rating) by 46.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,948 shares of the aerospace company’s stock after purchasing an additional 2,504 shares during the quarter. Guggenheim Capital LLC’s holdings in Huntington Ingalls Industries were worth $1,760,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in HII. Sound Shore Management Inc CT purchased a new stake in shares of Huntington Ingalls Industries during the third quarter worth about $53,748,000. Amundi grew its holdings in Huntington Ingalls Industries by 98.7% during the 2nd quarter. Amundi now owns 242,598 shares of the aerospace company’s stock valued at $49,526,000 after buying an additional 120,528 shares in the last quarter. Renaissance Technologies LLC grew its holdings in Huntington Ingalls Industries by 924.3% during the 1st quarter. Renaissance Technologies LLC now owns 117,800 shares of the aerospace company’s stock valued at $23,494,000 after buying an additional 106,300 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in Huntington Ingalls Industries by 275.1% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 117,922 shares of the aerospace company’s stock valued at $26,120,000 after buying an additional 86,481 shares in the last quarter. Finally, Sei Investments Co. grew its holdings in Huntington Ingalls Industries by 72.1% during the 2nd quarter. Sei Investments Co. now owns 175,798 shares of the aerospace company’s stock valued at $38,383,000 after buying an additional 73,620 shares in the last quarter. Hedge funds and other institutional investors own 86.63% of the company’s stock.

Insider Buying and Selling

In other Huntington Ingalls Industries news, Director Anastasi D. Kelly sold 3,662 shares of Huntington Ingalls Industries stock in a transaction on Tuesday, February 21st. The stock was sold at an average price of $222.41, for a total transaction of $814,465.42. Following the completion of the sale, the director now directly owns 351 shares of the company’s stock, valued at approximately $78,065.91. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Huntington Ingalls Industries news, VP Edgar A. Green III sold 1,717 shares of Huntington Ingalls Industries stock in a transaction on Wednesday, March 1st. The stock was sold at an average price of $214.96, for a total transaction of $369,086.32. Following the completion of the sale, the vice president now directly owns 5,982 shares of the company’s stock, valued at approximately $1,285,890.72. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Anastasi D. Kelly sold 3,662 shares of Huntington Ingalls Industries stock in a transaction on Tuesday, February 21st. The shares were sold at an average price of $222.41, for a total value of $814,465.42. Following the sale, the director now directly owns 351 shares of the company’s stock, valued at $78,065.91. The disclosure for this sale can be found here. In the last three months, insiders sold 6,924 shares of company stock valued at $1,522,231. Insiders own 2.16% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on HII shares. TheStreet upgraded Huntington Ingalls Industries from a “c+” rating to a “b-” rating in a report on Wednesday. Barclays upgraded Huntington Ingalls Industries from an “equal weight” rating to an “overweight” rating and set a $270.00 price target for the company in a report on Thursday, December 8th. Bank of America cut Huntington Ingalls Industries from a “neutral” rating to an “underperform” rating and set a $230.00 price target for the company. in a report on Friday, November 11th. Sanford C. Bernstein lowered their price objective on Huntington Ingalls Industries from $247.00 to $236.00 and set a “market perform” rating for the company in a research note on Monday, February 13th. Finally, JPMorgan Chase & Co. lowered their price objective on Huntington Ingalls Industries from $258.00 to $250.00 and set a “neutral” rating for the company in a research note on Tuesday, November 15th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat, Huntington Ingalls Industries presently has a consensus rating of “Hold” and an average price target of $251.10.

Huntington Ingalls Industries Price Performance

Shares of HII stock opened at $218.50 on Friday. Huntington Ingalls Industries, Inc. has a 52-week low of $189.76 and a 52-week high of $260.02. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.89 and a current ratio of 0.95. The firm has a market capitalization of $8.71 billion, a P/E ratio of 15.12 and a beta of 0.64. The stock has a 50 day moving average price of $222.07 and a 200 day moving average price of $230.08.

Huntington Ingalls Industries (NYSE:HII – Get Rating) last issued its quarterly earnings results on Thursday, February 9th. The aerospace company reported $3.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.14 by ($0.07). Huntington Ingalls Industries had a return on equity of 18.81% and a net margin of 5.42%. The business had revenue of $2.81 billion for the quarter, compared to the consensus estimate of $2.70 billion. During the same period in the prior year, the business posted $2.99 earnings per share. Huntington Ingalls Industries’s revenue was up 5.0% on a year-over-year basis. As a group, sell-side analysts predict that Huntington Ingalls Industries, Inc. will post 14.53 earnings per share for the current year.

Huntington Ingalls Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 10th. Investors of record on Friday, February 24th will be paid a dividend of $1.24 per share. This represents a $4.96 dividend on an annualized basis and a dividend yield of 2.27%. The ex-dividend date is Thursday, February 23rd. Huntington Ingalls Industries’s dividend payout ratio is currently 34.33%.

Huntington Ingalls Industries Company Profile

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Huntington Ingalls Industries, Inc engages in the shipbuilding business. It operates through the following business segments: Ingalls, Newport News, and Mission Technologies. The Ingalls segment designs and constructs non-nuclear ships, including amphibious assault ships, expeditionary warfare ships, surface combatants, and national security cutters (NSC).

Institutional Ownership by Quarter for Huntington Ingalls Industries (NYSE:HII)

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