Cibc World Market Inc. Trims Position in Huntington Ingalls Industries, Inc. $HII

Cibc World Market Inc. cut its holdings in shares of Huntington Ingalls Industries, Inc. (NYSE:HII) by 30.8% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,815 shares of the aerospace company’s stock after selling 3,929 shares during the quarter. Cibc World Market Inc.’s holdings in Huntington Ingalls Industries were worth $2,467,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. BlackRock Inc. bought a new stake in Huntington Ingalls Industries during the 2nd quarter valued at approximately $944,877,000. Northwestern Mutual Wealth Management Co. lifted its holdings in Huntington Ingalls Industries by 38,526.6% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,986,567 shares of the aerospace company’s stock worth $675,572,000 after purchasing an additional 1,981,424 shares in the last quarter. Van ECK Associates Corp boosted its stake in Huntington Ingalls Industries by 32.1% in the 4th quarter. Van ECK Associates Corp now owns 1,646,733 shares of the aerospace company’s stock worth $560,004,000 after purchasing an additional 400,428 shares during the period. Geode Capital Management LLC boosted its stake in Huntington Ingalls Industries by 5.3% in the 4th quarter. Geode Capital Management LLC now owns 1,116,501 shares of the aerospace company’s stock worth $379,098,000 after purchasing an additional 56,618 shares during the period. Finally, AQR Capital Management LLC grew its holdings in Huntington Ingalls Industries by 85.0% during the 4th quarter. AQR Capital Management LLC now owns 1,085,619 shares of the aerospace company’s stock valued at $369,186,000 after buying an additional 498,690 shares in the last quarter. 90.46% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Huntington Ingalls Industries

In related news, CEO Christopher D. Kastner sold 13,070 shares of the firm’s stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $324.92, for a total transaction of $4,246,704.40. Following the completion of the sale, the chief executive officer directly owned 11,224 shares of the company’s stock, valued at approximately $3,646,902.08. This trade represents a 53.80% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.80% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on HII. Wall Street Zen downgraded shares of Huntington Ingalls Industries from a “buy” rating to a “hold” rating in a report on Monday, May 18th. Wolfe Research upgraded Huntington Ingalls Industries from a “peer perform” rating to an “outperform” rating and set a $364.00 price objective for the company in a research report on Friday, July 31st. Weiss Ratings cut Huntington Ingalls Industries from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday, August 17th. TD Cowen decreased their target price on Huntington Ingalls Industries from $420.00 to $360.00 and set a “buy” rating on the stock in a research report on Monday, July 13th. Finally, Wells Fargo & Company boosted their target price on Huntington Ingalls Industries from $325.00 to $340.00 and gave the stock an “equal weight” rating in a research report on Tuesday, August 4th. Five research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $368.88.

Huntington Ingalls Industries Stock Performance

Shares of NYSE:HII opened at $296.44 on Thursday. The company has a market capitalization of $11.68 billion, a price-to-earnings ratio of 17.67, a PEG ratio of 1.10 and a beta of 0.24. Huntington Ingalls Industries, Inc. has a 12 month low of $263.62 and a 12 month high of $460.00. The firm’s 50-day moving average is $296.07 and its 200 day moving average is $345.93. The company has a current ratio of 1.23, a quick ratio of 1.14 and a debt-to-equity ratio of 0.51.

Huntington Ingalls Industries (NYSE:HII) last posted its quarterly earnings data on Thursday, July 30th. The aerospace company reported $5.27 earnings per share for the quarter, topping analysts’ consensus estimates of $3.79 by $1.48. The company had revenue of $3.42 billion for the quarter, compared to analyst estimates of $3.15 billion. Huntington Ingalls Industries had a net margin of 5.01% and a return on equity of 12.89%. The firm’s revenue for the quarter was up 10.9% on a year-over-year basis. During the same period in the prior year, the company posted $3.86 EPS. Research analysts predict that Huntington Ingalls Industries, Inc. will post 18.47 EPS for the current year.

Huntington Ingalls Industries Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Stockholders of record on Friday, August 28th will be paid a dividend of $1.38 per share. The ex-dividend date of this dividend is Friday, August 28th. This represents a $5.52 dividend on an annualized basis and a dividend yield of 1.9%. Huntington Ingalls Industries’s dividend payout ratio is currently 32.90%.

Huntington Ingalls Industries Company Profile

Huntington Ingalls Industries (NYSE: HII) is America’s largest military shipbuilding company and a leading provider of professional services to the U.S. government. Headquartered in Newport News, Virginia, HII designs, constructs and maintains nuclear-powered aircraft carriers, submarines and other complex vessels for the U.S. Navy. The company’s products include nuclear aircraft carriers, Virginia-class and Columbia-class submarines, as well as amphibious assault ships, destroyers and cutters.

Established in 2011 as a spin-off from Northrop Grumman’s shipbuilding operations, HII traces its heritage to two historic builders: Newport News Shipbuilding, founded in the 19th century, and Ingalls Shipbuilding, founded in 1938.