Bessemer Group Inc. Cuts Position in Huntington Ingalls Industries, Inc. (NYSE:HII)

Posted by Defense World Staff on Aug 24th, 2023

Bessemer Group Inc. lessened its holdings in Huntington Ingalls Industries, Inc. (NYSE:HII – Free Report) by 4.7% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,255 shares of the aerospace company’s stock after selling 62 shares during the quarter. Bessemer Group Inc.’s holdings in Huntington Ingalls Industries were worth $259,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of HII. Tanglewood Legacy Advisors LLC purchased a new stake in Huntington Ingalls Industries in the fourth quarter worth about $26,000. Almanack Investment Partners LLC. purchased a new stake in shares of Huntington Ingalls Industries during the third quarter valued at approximately $42,000. Van ECK Associates Corp purchased a new stake in shares of Huntington Ingalls Industries during the first quarter valued at approximately $43,000. Grey Fox Wealth Advisors LLC purchased a new stake in shares of Huntington Ingalls Industries during the fourth quarter valued at approximately $48,000. Finally, OLD Mission Capital LLC purchased a new stake in shares of Huntington Ingalls Industries during the fourth quarter valued at approximately $52,000. Hedge funds and other institutional investors own 87.80% of the company’s stock.

Analysts Set New Price Targets

HII has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. increased their price target on shares of Huntington Ingalls Industries from $238.00 to $250.00 in a report on Monday, July 10th. StockNews.com initiated coverage on shares of Huntington Ingalls Industries in a report on Thursday, August 17th. They set a “buy” rating on the stock. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat, Huntington Ingalls Industries presently has an average rating of “Hold” and an average target price of $245.86.

View Our Latest Report on Huntington Ingalls Industries

Insiders Place Their Bets

In other Huntington Ingalls Industries news, VP D R. Wyatt sold 500 shares of the stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $227.19, for a total value of $113,595.00. Following the transaction, the vice president now directly owns 20,320 shares in the company, valued at $4,616,500.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 2.30% of the company’s stock.

Huntington Ingalls Industries Trading Down 0.1 %

Shares of HII stock opened at $220.29 on Thursday. 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 0.90 and a debt-to-equity ratio of 0.66. The firm’s 50 day moving average is $225.91 and its 200 day moving average is $214.54. The stock has a market capitalization of $8.78 billion, a P/E ratio of 16.93 and a beta of 0.65.

Huntington Ingalls Industries (NYSE:HII – Get Free Report) last released its quarterly earnings results on Thursday, August 3rd. The aerospace company reported $3.27 earnings per share for the quarter, topping the consensus estimate of $3.14 by $0.13. Huntington Ingalls Industries had a net margin of 4.77% and a return on equity of 15.13%. The business had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.67 billion. During the same period last year, the firm earned $4.44 earnings per share. The company’s quarterly revenue was up 4.7% on a year-over-year basis. Research analysts expect that Huntington Ingalls Industries, Inc. will post 14.47 earnings per share for the current year.

Huntington Ingalls Industries Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 8th. Shareholders of record on Friday, August 25th will be given a $1.24 dividend. The ex-dividend date of this dividend is Thursday, August 24th. This represents a $4.96 annualized dividend and a yield of 2.25%. Huntington Ingalls Industries’s payout ratio is presently 38.12%.

Huntington Ingalls Industries Company 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.