Pinnacle Associates Ltd. Acquires New Shares in Huntington Ingalls Industries, Inc. (NYSE:HII)

Posted by Defense World Staff on Aug 8th, 2023

Pinnacle Associates Ltd. acquired a new position in shares of Huntington Ingalls Industries, Inc. (NYSE:HII – Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 1,077 shares of the aerospace company’s stock, valued at approximately $223,000.

Several other large investors have also recently bought and sold shares of HII. HighTower Advisors LLC increased its holdings in Huntington Ingalls Industries by 1.2% in the first quarter. HighTower Advisors LLC now owns 7,072 shares of the aerospace company’s stock valued at $1,403,000 after buying an additional 87 shares in the last quarter. D.A. Davidson & CO. lifted its stake in shares of Huntington Ingalls Industries by 27.5% in the 1st quarter. D.A. Davidson & CO. now owns 1,467 shares of the aerospace company’s stock worth $293,000 after acquiring an additional 316 shares during the period. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Huntington Ingalls Industries during the first quarter valued at approximately $60,000. MetLife Investment Management LLC increased its stake in Huntington Ingalls Industries by 23.0% in the 1st quarter. MetLife Investment Management LLC now owns 10,885 shares of the aerospace company’s stock valued at $2,171,000 after buying an additional 2,035 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in shares of Huntington Ingalls Industries by 6.6% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 5,360 shares of the aerospace company’s stock worth $1,069,000 after purchasing an additional 332 shares during the last quarter. Hedge funds and other institutional investors own 87.80% of the company’s stock.

Huntington Ingalls Industries Stock Up 1.7 %

Shares of NYSE HII opened at $230.59 on Tuesday. The firm has a market capitalization of $9.19 billion, a price-to-earnings ratio of 17.72 and a beta of 0.65. The business has a 50-day moving average of $222.76 and a 200-day moving average of $214.07. The company has a current ratio of 0.96, a quick ratio of 0.90 and a debt-to-equity ratio of 0.66. Huntington Ingalls Industries, Inc. has a 12 month low of $188.51 and a 12 month high of $260.02.

Huntington Ingalls Industries (NYSE:HII – Get Free Report) last released its quarterly earnings data on Thursday, August 3rd. The aerospace company reported $3.27 EPS for the quarter, beating the consensus estimate of $3.14 by $0.13. The company had revenue of $2.79 billion for the quarter, compared to analysts’ expectations of $2.67 billion. Huntington Ingalls Industries had a return on equity of 15.13% and a net margin of 4.77%. Huntington Ingalls Industries’s revenue was up 4.7% compared to the same quarter last year. During the same period last year, the firm posted $4.44 earnings per share. Sell-side analysts expect that Huntington Ingalls Industries, Inc. will post 14.51 earnings per share for the current fiscal year.

Huntington Ingalls Industries Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 8th. Shareholders of record on Friday, August 25th will be given a dividend of $1.24 per share. This represents a $4.96 annualized dividend and a yield of 2.15%. The ex-dividend date of this dividend is Thursday, August 24th. Huntington Ingalls Industries’s payout ratio is 38.12%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on HII. StockNews.com raised shares of Huntington Ingalls Industries from a “hold” rating to a “buy” rating in a report on Monday, June 26th. JPMorgan Chase & Co. lifted their price objective on shares of Huntington Ingalls Industries from $238.00 to $250.00 in a research note on Monday, July 10th. Two 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. Based on data from MarketBeat, Huntington Ingalls Industries has an average rating of “Hold” and an average price target of $245.86.

Get Our Latest Research Report on HII

Insiders Place Their Bets

In related news, VP D R. Wyatt sold 500 shares of Huntington Ingalls Industries 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 completion of the transaction, the vice president now directly owns 20,820 shares in the company, valued at $4,125,066.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.30% of the stock is currently owned by insiders.

About Huntington Ingalls Industries

(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.