Macquarie Group Ltd. Has $2.33 Million Position in Huntington Ingalls Industries, Inc. (NYSE:HII)

Posted by on Mar 10th, 2023

Macquarie Group Ltd. lowered its position in Huntington Ingalls Industries, Inc. (NYSE:HII – Get Rating) by 5.2% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 10,529 shares of the aerospace company’s stock after selling 580 shares during the period. Macquarie Group Ltd.’s holdings in Huntington Ingalls Industries were worth $2,332,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in HII. Sound Shore Management Inc CT acquired a new position in Huntington Ingalls Industries in the third quarter worth approximately $53,748,000. Amundi boosted its position in Huntington Ingalls Industries by 98.7% during the second quarter. Amundi now owns 242,598 shares of the aerospace company’s stock worth $49,526,000 after purchasing an additional 120,528 shares during the period. Renaissance Technologies LLC boosted its position in Huntington Ingalls Industries by 924.3% during the first quarter. Renaissance Technologies LLC now owns 117,800 shares of the aerospace company’s stock worth $23,494,000 after purchasing an additional 106,300 shares during the period. Point72 Asset Management L.P. boosted its position in Huntington Ingalls Industries by 104.4% during the third quarter. Point72 Asset Management L.P. now owns 204,905 shares of the aerospace company’s stock worth $45,386,000 after purchasing an additional 104,681 shares during the period. Finally, Massachusetts Financial Services Co. MA boosted its position in Huntington Ingalls Industries by 275.1% during the third quarter. Massachusetts Financial Services Co. MA now owns 117,922 shares of the aerospace company’s stock worth $26,120,000 after purchasing an additional 86,481 shares during the period. Institutional investors and hedge funds own 86.63% of the company’s stock.

Insiders Place Their Bets

In other Huntington Ingalls Industries news, VP Edgar A. Green III sold 1,545 shares of the stock in a transaction on Monday, February 27th. The stock was sold at an average price of $219.21, for a total transaction of $338,679.45. Following the completion of the transaction, the vice president now directly owns 4,264 shares in the company, valued at $934,711.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Huntington Ingalls Industries news, VP Edgar A. Green III sold 1,545 shares of the stock in a transaction on Monday, February 27th. The stock was sold at an average price of $219.21, for a total transaction of $338,679.45. Following the completion of the transaction, the vice president now directly owns 4,264 shares in the company, valued at $934,711.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Anastasi D. Kelly sold 3,662 shares of the stock in a transaction on Tuesday, February 21st. The stock was sold at an average price of $222.41, for a total value of $814,465.42. Following the transaction, the director now owns 351 shares of the company’s stock, valued at $78,065.91. The disclosure for this sale can be found here. Insiders sold 6,924 shares of company stock worth $1,522,231 over the last three months. 2.16% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have issued reports on HII. Barclays raised Huntington Ingalls Industries from an “equal weight” rating to an “overweight” rating and set a $270.00 target price for the company in a research 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 target price for the company. in a research report on Friday, November 11th. TheStreet raised Huntington Ingalls Industries from a “c+” rating to a “b-” rating in a research report on Wednesday, March 1st. Credit Suisse Group reduced their price objective on Huntington Ingalls Industries from $244.00 to $230.00 and set a “neutral” rating for the company in a research report on Friday, February 10th. Finally, StockNews.com raised Huntington Ingalls Industries from a “hold” rating to a “buy” rating in a research report on Friday, February 10th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $251.10.

Huntington Ingalls Industries Stock Performance

Shares of NYSE HII opened at $210.01 on Friday. The business has a fifty day simple moving average of $220.69 and a 200 day simple moving average of $229.49. The company has a current ratio of 0.95, a quick ratio of 0.89 and a debt-to-equity ratio of 0.72. The firm has a market capitalization of $8.37 billion, a price-to-earnings ratio of 14.53 and a beta of 0.64. Huntington Ingalls Industries, Inc. has a one year low of $189.76 and a one year high of $260.02.

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

Huntington Ingalls Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 10th. Shareholders of record on Friday, February 24th will be paid a dividend of $1.24 per share. The ex-dividend date is Thursday, February 23rd. This represents a $4.96 annualized dividend and a yield of 2.36%. Huntington Ingalls Industries’s dividend payout ratio is currently 34.33%.

About Huntington Ingalls Industries

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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).

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

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