Burney Co. Decreases Stock Position in Huntington Ingalls Industries, Inc. (NYSE:HII)

Burney Co. decreased its position in Huntington Ingalls Industries, Inc. (NYSE:HII) by 4.0% in the 2nd quarter, Holdings Channel reports. The fund owned 18,324 shares of the aerospace company’s stock after selling 769 shares during the period. Burney Co.’s holdings in Huntington Ingalls Industries were worth $4,514,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in HII. HB Wealth Management LLC increased its position in shares of Huntington Ingalls Industries by 40.4% during the second quarter. HB Wealth Management LLC now owns 1,151 shares of the aerospace company’s stock worth $284,000 after acquiring an additional 331 shares during the last quarter. 1834 Investment Advisors Co. acquired a new stake in Huntington Ingalls Industries during the 2nd quarter valued at approximately $483,000. Cambridge Investment Research Advisors Inc. increased its holdings in Huntington Ingalls Industries by 8.8% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 5,889 shares of the aerospace company’s stock worth $1,451,000 after purchasing an additional 476 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in Huntington Ingalls Industries by 32.8% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 160,008 shares of the aerospace company’s stock worth $39,415,000 after purchasing an additional 39,530 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of Huntington Ingalls Industries by 8.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 521,426 shares of the aerospace company’s stock valued at $128,443,000 after purchasing an additional 40,942 shares in the last quarter. Hedge funds and other institutional investors own 90.46% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on HII shares. Citigroup started coverage on shares of Huntington Ingalls Industries in a research report on Monday, May 20th. They set a “buy” rating and a $310.00 price target for the company. StockNews.com lowered shares of Huntington Ingalls Industries from a “strong-buy” rating to a “buy” rating in a report on Friday, May 3rd. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Huntington Ingalls Industries currently has a consensus rating of “Moderate Buy” and an average price target of $278.00.

Huntington Ingalls Industries Stock Performance

NYSE:HII traded up $4.62 during trading hours on Thursday, reaching $284.67. 68,627 shares of the stock were exchanged, compared to its average volume of 295,930. Huntington Ingalls Industries, Inc. has a 52 week low of $199.11 and a 52 week high of $299.50. The company has a quick ratio of 0.89, a current ratio of 0.82 and a debt-to-equity ratio of 0.41. The stock has a market capitalization of $11.23 billion, a P/E ratio of 15.76, a P/E/G ratio of 2.28 and a beta of 0.53. The firm has a 50 day simple moving average of $261.13 and a 200-day simple moving average of $267.86.

Huntington Ingalls Industries (NYSE:HII) last announced its quarterly earnings data on Thursday, August 1st. The aerospace company reported $4.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.61 by $0.77. Huntington Ingalls Industries had a return on equity of 18.55% and a net margin of 6.35%. The firm had revenue of $2.98 billion for the quarter, compared to analysts’ expectations of $2.84 billion. During the same period last year, the business posted $3.27 earnings per share. The firm’s revenue for the quarter was up 6.8% on a year-over-year basis. As a group, sell-side analysts forecast that Huntington Ingalls Industries, Inc. will post 16.32 earnings per share for the current fiscal year.

Huntington Ingalls Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Friday, August 30th will be issued a $1.30 dividend. This represents a $5.20 annualized dividend and a dividend yield of 1.83%. The ex-dividend date of this dividend is Friday, August 30th. Huntington Ingalls Industries’s dividend payout ratio (DPR) is presently 29.31%.

Huntington Ingalls Industries Profile

Huntington Ingalls Industries, Inc designs, builds, overhauls, and repairs 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.