Van ECK Associates Corp Buys 400,428 Shares of Huntington Ingalls Industries, Inc. $HII

Van ECK Associates Corp increased its stake in shares of Huntington Ingalls Industries, Inc. (NYSE:HII) by 32.1% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 1,646,733 shares of the aerospace company’s stock after acquiring an additional 400,428 shares during the quarter. Van ECK Associates Corp’s holdings in Huntington Ingalls Industries were worth $560,004,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of HII. CYBER HORNET ETFs LLC bought a new stake in shares of Huntington Ingalls Industries during the 2nd quarter worth about $25,000. Rakuten Securities Inc. raised its stake in Huntington Ingalls Industries by 140.0% in the 2nd quarter. Rakuten Securities Inc. now owns 108 shares of the aerospace company’s stock worth $26,000 after purchasing an additional 63 shares in the last quarter. NBC Securities Inc. raised its stake in Huntington Ingalls Industries by 87.2% in the 4th quarter. NBC Securities Inc. now owns 88 shares of the aerospace company’s stock worth $30,000 after purchasing an additional 41 shares in the last quarter. Smartleaf Asset Management LLC raised its stake in Huntington Ingalls Industries by 363.3% in the 2nd quarter. Smartleaf Asset Management LLC now owns 139 shares of the aerospace company’s stock worth $33,000 after purchasing an additional 109 shares in the last quarter. Finally, Community Bank N.A. acquired a new stake in Huntington Ingalls Industries in the 3rd quarter worth about $35,000. Institutional investors own 90.46% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on HII shares. Wall Street Zen cut shares of Huntington Ingalls Industries from a “buy” rating to a “hold” rating in a research note on Monday, May 18th. Wells Fargo & Company started coverage on shares of Huntington Ingalls Industries in a research note on Wednesday, April 1st. They issued an “equal weight” rating and a $400.00 price objective for the company. Citigroup dropped their price objective on shares of Huntington Ingalls Industries from $441.00 to $405.00 and set a “buy” rating for the company in a research note on Monday, May 18th. Weiss Ratings cut shares of Huntington Ingalls Industries from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, May 6th. Finally, TD Cowen dropped their target price on shares of Huntington Ingalls Industries from $460.00 to $420.00 and set a “buy” rating for the company in a research report on Thursday, May 14th. Four equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $388.50.

Insider Transactions at Huntington Ingalls Industries

In related news, VP Edmond E. Jr. Hughes sold 3,500 shares of the company’s stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $319.58, for a total transaction of $1,118,530.00. Following the completion of the transaction, the vice president directly owned 8,391 shares in the company, valued at $2,681,595.78. This represents a 29.43% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.80% of the stock is currently owned by corporate insiders.

Huntington Ingalls Industries Price Performance

Shares of NYSE:HII opened at $297.42 on Friday. The firm has a 50 day moving average of $343.49 and a 200-day moving average of $370.95. The stock has a market capitalization of $11.72 billion, a PE ratio of 19.35, a PEG ratio of 1.27 and a beta of 0.23. The company has a current ratio of 1.19, a quick ratio of 1.11 and a debt-to-equity ratio of 0.52. Huntington Ingalls Industries, Inc. has a 12 month low of $226.75 and a 12 month high of $460.00.

Huntington Ingalls Industries (NYSE:HII) last released its quarterly earnings data on Tuesday, May 5th. The aerospace company reported $3.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.70 by $0.09. The business had revenue of $3.10 billion during the quarter, compared to analysts’ expectations of $3.02 billion. Huntington Ingalls Industries had a net margin of 4.71% and a return on equity of 12.05%. The firm’s quarterly revenue was up 13.4% compared to the same quarter last year. During the same period in the prior year, the company earned $3.79 EPS. On average, equities research analysts predict that Huntington Ingalls Industries, Inc. will post 17.32 EPS for the current fiscal year.

Huntington Ingalls Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 12th. Investors of record on Friday, May 29th were given 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 was Friday, May 29th. Huntington Ingalls Industries’s dividend payout ratio is currently 35.91%.

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.