Freestone Grove Partners LP Makes New $22.83 Million Investment in Huntington Ingalls Industries, Inc. $HII

Freestone Grove Partners LP purchased a new stake in shares of Huntington Ingalls Industries, Inc. (NYSE:HII) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 81,583 shares of the aerospace company’s stock, valued at approximately $22,834,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. CYBER HORNET ETFs LLC acquired a new stake in Huntington Ingalls Industries in the 2nd quarter valued at approximately $25,000. Rakuten Securities Inc. lifted its holdings in shares of Huntington Ingalls Industries by 140.0% during the second quarter. Rakuten Securities Inc. now owns 108 shares of the aerospace company’s stock worth $26,000 after buying an additional 63 shares during the last quarter. Bayban bought a new stake in shares of Huntington Ingalls Industries in the first quarter valued at approximately $27,000. NBC Securities Inc. boosted its position in shares of Huntington Ingalls Industries by 87.2% in the fourth quarter. NBC Securities Inc. now owns 88 shares of the aerospace company’s stock valued at $30,000 after acquiring an additional 41 shares during the period. Finally, Smartleaf Asset Management LLC grew its stake in shares of Huntington Ingalls Industries by 363.3% in the second quarter. Smartleaf Asset Management LLC now owns 139 shares of the aerospace company’s stock worth $33,000 after acquiring an additional 109 shares during the last quarter. 90.46% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Huntington Ingalls Industries

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

Analyst Ratings Changes

Several equities analysts recently commented on HII shares. Weiss Ratings cut shares of Huntington Ingalls Industries from a “hold (c+)” rating to a “hold (c)” rating in a research note on Monday, August 17th. Citigroup upped their price objective on shares of Huntington Ingalls Industries from $349.00 to $379.00 and gave the company a “buy” rating in a research report on Friday, July 31st. Sanford C. Bernstein set a $341.00 target price on shares of Huntington Ingalls Industries in a research note on Tuesday. Wells Fargo & Company lifted 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. Finally, Wall Street Zen lowered Huntington Ingalls Industries from a “buy” rating to a “hold” rating in a research note on Monday, May 18th. Five analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $368.88.

Huntington Ingalls Industries Trading Up 0.2%

Shares of HII stock opened at $296.89 on Friday. Huntington Ingalls Industries, Inc. has a 52-week low of $263.62 and a 52-week high of $460.00. The stock has a market cap of $11.70 billion, a price-to-earnings ratio of 17.69, a P/E/G ratio of 1.12 and a beta of 0.24. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.14 and a current ratio of 1.23. The firm has a fifty day moving average of $296.31 and a 200-day moving average of $345.22.

Huntington Ingalls Industries (NYSE:HII) last issued its earnings results on Thursday, July 30th. The aerospace company reported $5.27 earnings per share for the quarter, beating the consensus estimate of $3.79 by $1.48. The business 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 was up 10.9% on a year-over-year basis. During the same period in the previous year, the business earned $3.86 EPS. On average, equities research analysts forecast that Huntington Ingalls Industries, Inc. will post 18.47 earnings per share for the current fiscal year.

Huntington Ingalls Industries Dividend Announcement

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

Huntington Ingalls Industries 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.