Amalgamated Bank Reduces Stake in Huntington Ingalls Industries, Inc. (NYSE:HII)

Posted by Defense World Staff on Jul 29th, 2023

Amalgamated Bank reduced its stake in Huntington Ingalls Industries, Inc. (NYSE:HII – Free Report) by 34.5% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 13,045 shares of the aerospace company’s stock after selling 6,858 shares during the quarter. Amalgamated Bank’s holdings in Huntington Ingalls Industries were worth $2,701,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Global Trust Asset Management LLC grew its holdings in Huntington Ingalls Industries by 3.5% in the 1st quarter. Global Trust Asset Management LLC now owns 1,465 shares of the aerospace company’s stock valued at $303,000 after buying an additional 50 shares in the last quarter. Empirical Finance LLC grew its holdings in shares of Huntington Ingalls Industries by 5.2% during the 1st quarter. Empirical Finance LLC now owns 1,096 shares of the aerospace company’s stock worth $227,000 after purchasing an additional 54 shares during the period. Capital Investment Counsel Inc grew its holdings in shares of Huntington Ingalls Industries by 0.7% during the 4th quarter. Capital Investment Counsel Inc now owns 8,240 shares of the aerospace company’s stock worth $1,901,000 after purchasing an additional 55 shares during the period. AMG National Trust Bank grew its holdings in shares of Huntington Ingalls Industries by 1.0% during the 4th quarter. AMG National Trust Bank now owns 5,598 shares of the aerospace company’s stock worth $1,291,000 after purchasing an additional 58 shares during the period. Finally, Meiji Yasuda Asset Management Co Ltd. grew its holdings in shares of Huntington Ingalls Industries by 5.5% during the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 1,160 shares of the aerospace company’s stock worth $268,000 after purchasing an additional 60 shares during the period. 87.80% of the stock is currently owned by hedge funds and other institutional investors.

Huntington Ingalls Industries Price Performance

HII opened at $230.45 on Friday. The stock’s 50-day moving average price is $218.91 and its 200 day moving average price is $213.90. Huntington Ingalls Industries, Inc. has a 12-month low of $188.51 and a 12-month high of $260.02. The company has a current ratio of 0.96, a quick ratio of 0.89 and a debt-to-equity ratio of 0.70. The firm has a market cap of $9.19 billion, a price-to-earnings ratio of 16.25 and a beta of 0.66.

Huntington Ingalls Industries (NYSE:HII – Get Free Report) last posted its quarterly earnings results on Thursday, May 4th. The aerospace company reported $3.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.00 by $0.23. The company had revenue of $2.67 billion for the quarter, compared to analyst estimates of $2.60 billion. Huntington Ingalls Industries had a return on equity of 17.41% and a net margin of 5.27%. Huntington Ingalls Industries’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter last year, the company earned $3.50 EPS. As a group, sell-side analysts expect that Huntington Ingalls Industries, Inc. will post 14.51 earnings per share for the current year.

Huntington Ingalls Industries Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 9th. Shareholders of record on Friday, May 26th were given a $1.24 dividend. This represents a $4.96 dividend on an annualized basis and a yield of 2.15%. The ex-dividend date was Thursday, May 25th. Huntington Ingalls Industries’s dividend payout ratio is currently 34.98%.

Insider Buying and Selling at Huntington Ingalls Industries

In other Huntington Ingalls Industries news, VP D R. Wyatt sold 500 shares of the stock in a transaction dated Friday, May 12th. The stock was sold at an average price of $198.13, for a total value of $99,065.00. Following the sale, the vice president now owns 20,820 shares of the company’s stock, valued at approximately $4,125,066.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 2.30% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

HII has been the subject of a number of research analyst reports. StockNews.com upgraded Huntington Ingalls Industries from a “hold” rating to a “buy” rating in a report on Monday, June 26th. JPMorgan Chase & Co. increased their price target on Huntington Ingalls Industries from $238.00 to $250.00 in a report on Monday, July 10th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $245.86.

Huntington Ingalls Industries Profile

(Free Report)

Huntington Ingalls Industries, Inc engages in designing, building, overhauling, and repairing military ships in the United States. It operates through three segments: Ingalls, Newport News, and Mission Technologies. The company is involved in the design and construction of non-nuclear ships comprising amphibious assault ships; expeditionary warfare ships; surface combatants; and national security cutters for the U.S.