Sterling Capital Management LLC Cuts Position in Huntington Ingalls Industries Inc (HII)

Sterling Capital Management LLC decreased its holdings in Huntington Ingalls Industries Inc (NYSE:HII) by 27.5% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 12,839 shares of the aerospace company’s stock after selling 4,870 shares during the period. Sterling Capital Management LLC’s holdings in Huntington Ingalls Industries were worth $2,907,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Cetera Investment Advisers purchased a new position in Huntington Ingalls Industries in the second quarter valued at approximately $281,000. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in Huntington Ingalls Industries by 2.7% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 147,599 shares of the aerospace company’s stock valued at $27,477,000 after buying an additional 3,925 shares during the period. Swiss National Bank raised its holdings in Huntington Ingalls Industries by 2.1% in the second quarter. Swiss National Bank now owns 167,700 shares of the aerospace company’s stock valued at $31,219,000 after buying an additional 3,400 shares during the period. State Board of Administration of Florida Retirement System raised its holdings in Huntington Ingalls Industries by 4.5% in the second quarter. State Board of Administration of Florida Retirement System now owns 71,437 shares of the aerospace company’s stock valued at $13,299,000 after buying an additional 3,078 shares during the period. Finally, Wells Fargo & Company MN raised its holdings in Huntington Ingalls Industries by 6.9% in the second quarter. Wells Fargo & Company MN now owns 732,828 shares of the aerospace company’s stock valued at $136,423,000 after buying an additional 47,379 shares during the period. Hedge funds and other institutional investors own 84.23% of the company’s stock.

In related news, Director Philip M. Bilden purchased 2,200 shares of the firm’s stock in a transaction dated Friday, November 24th. The stock was acquired at an average price of $234.11 per share, with a total value of $515,042.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP D R. Wyatt sold 800 shares of the firm’s stock in a transaction that occurred on Monday, November 13th. The stock was sold at an average price of $240.33, for a total transaction of $192,264.00. Following the sale, the vice president now directly owns 19,065 shares of the company’s stock, valued at approximately $4,581,891.45. The disclosure for this sale can be found here. 2.22% of the stock is owned by company insiders.

Shares of Huntington Ingalls Industries Inc (NYSE HII) opened at $238.83 on Friday. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.52 and a quick ratio of 1.38. Huntington Ingalls Industries Inc has a 1 year low of $179.61 and a 1 year high of $253.44. The stock has a market cap of $10,816.02, a P/E ratio of 19.88, a price-to-earnings-growth ratio of 1.33 and a beta of 1.17.

Huntington Ingalls Industries (NYSE:HII) last issued its quarterly earnings data on Wednesday, November 8th. The aerospace company reported $3.27 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.78 by $0.49. Huntington Ingalls Industries had a net margin of 8.31% and a return on equity of 33.37%. The company had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.80 billion. During the same quarter last year, the company earned $2.27 earnings per share. Huntington Ingalls Industries’s revenue for the quarter was up 10.7% on a year-over-year basis. equities research analysts forecast that Huntington Ingalls Industries Inc will post 12.01 EPS for the current fiscal year.

Huntington Ingalls Industries announced that its board has authorized a share repurchase program on Tuesday, November 7th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the aerospace company to buy shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its shares are undervalued.

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 8th. Shareholders of record on Friday, November 24th were given a $0.72 dividend. This is an increase from Huntington Ingalls Industries’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend was Wednesday, November 22nd. This represents a $2.88 annualized dividend and a yield of 1.21%. Huntington Ingalls Industries’s dividend payout ratio (DPR) is 21.75%.

HII has been the topic of several research reports. Cowen restated a “hold” rating and issued a $210.00 price target on shares of Huntington Ingalls Industries in a report on Tuesday, August 22nd. BidaskClub downgraded shares of Huntington Ingalls Industries from a “buy” rating to a “hold” rating in a research report on Wednesday, August 23rd. ValuEngine raised shares of Huntington Ingalls Industries from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Citigroup reaffirmed a “neutral” rating and issued a $233.00 price objective (up previously from $224.00) on shares of Huntington Ingalls Industries in a research report on Monday, October 9th. Finally, Zacks Investment Research downgraded shares of Huntington Ingalls Industries from a “buy” rating to a “hold” rating in a research report on Tuesday, October 24th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $222.57.

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Huntington Ingalls Industries Company Profile

Huntington Ingalls Industries, Inc is a military shipbuilding company and a provider of professional services to partners in government and industry. The Company’s business consists of the design, construction, repair and maintenance of nuclear-powered ships and non-nuclear ships for the United States Navy and coastal defense surface ships for the United States Coast Guard, as well as the refueling and overhaul and inactivation of nuclear-powered ships for the United States Navy.

Institutional Ownership by Quarter for Huntington Ingalls Industries (NYSE:HII)

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