Old North State Wealth Management LLC Has $3.12 Million Stock Position in Huntington Ingalls Industries, Inc. (NYSE:HII)

Old North State Wealth Management LLC lifted its position in shares of Huntington Ingalls Industries, Inc. (NYSE:HII) by 60.6% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 11,790 shares of the aerospace company’s stock after buying an additional 4,450 shares during the quarter. Huntington Ingalls Industries comprises 1.7% of Old North State Wealth Management LLC’s holdings, making the stock its 21st biggest position. Old North State Wealth Management LLC’s holdings in Huntington Ingalls Industries were worth $3,122,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Rosenberg Matthew Hamilton raised its stake in Huntington Ingalls Industries by 8.2% in the third quarter. Rosenberg Matthew Hamilton now owns 525 shares of the aerospace company’s stock valued at $139,000 after purchasing an additional 40 shares in the last quarter. Oliver Lagore Vanvalin Investment Group raised its stake in Huntington Ingalls Industries by 9.1% in the second quarter. Oliver Lagore Vanvalin Investment Group now owns 492 shares of the aerospace company’s stock valued at $121,000 after purchasing an additional 41 shares in the last quarter. Ballentine Partners LLC grew its position in Huntington Ingalls Industries by 1.6% in the second quarter. Ballentine Partners LLC now owns 2,625 shares of the aerospace company’s stock valued at $647,000 after acquiring an additional 42 shares during the last quarter. GAMMA Investing LLC grew its position in Huntington Ingalls Industries by 16.4% in the second quarter. GAMMA Investing LLC now owns 320 shares of the aerospace company’s stock valued at $79,000 after acquiring an additional 45 shares during the last quarter. Finally, Hilltop National Bank grew its position in Huntington Ingalls Industries by 15.1% in the second quarter. Hilltop National Bank now owns 359 shares of the aerospace company’s stock valued at $88,000 after acquiring an additional 47 shares during the last quarter. Institutional investors and hedge funds own 90.46% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Alembic Global Advisors cut Huntington Ingalls Industries from an “overweight” rating to a “neutral” rating and set a $210.00 target price on the stock. in a research report on Friday. StockNews.com cut Huntington Ingalls Industries from a “buy” rating to a “hold” rating in a research report on Friday. TD Cowen cut Huntington Ingalls Industries from a “buy” rating to a “hold” rating and set a $180.00 target price on the stock. in a research report on Friday. Deutsche Bank Aktiengesellschaft decreased their target price on Huntington Ingalls Industries from $273.00 to $191.00 and set a “hold” rating on the stock in a research report on Friday. Finally, JPMorgan Chase & Co. cut Huntington Ingalls Industries from an “overweight” rating to a “neutral” rating and boosted their price target for the stock from $280.00 to $285.00 in a report on Monday, September 9th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $233.13.

Huntington Ingalls Industries Stock Performance

NYSE:HII opened at $189.23 on Monday. The stock’s 50-day moving average is $260.62 and its 200-day moving average is $258.86. Huntington Ingalls Industries, Inc. has a 1-year low of $184.29 and a 1-year high of $299.50. The stock has a market cap of $7.42 billion, a P/E ratio of 10.68, a price-to-earnings-growth ratio of 1.62 and a beta of 0.56. The company has a current ratio of 0.79, a quick ratio of 0.76 and a debt-to-equity ratio of 0.41.

Huntington Ingalls Industries (NYSE:HII) last announced its earnings results on Thursday, October 31st. The aerospace company reported $2.56 EPS for the quarter, missing the consensus estimate of $3.84 by ($1.28). Huntington Ingalls Industries had a net margin of 5.99% and a return on equity of 16.89%. The company had revenue of $2.75 billion during the quarter, compared to the consensus estimate of $2.87 billion. During the same quarter in the previous year, the company earned $3.70 earnings per share. The business’s revenue was down 2.4% on a year-over-year basis. Equities research analysts anticipate that Huntington Ingalls Industries, Inc. will post 16.49 earnings per share for the current year.

Huntington Ingalls Industries Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be issued a $1.35 dividend. The ex-dividend date is Friday, November 29th. This is a boost from Huntington Ingalls Industries’s previous quarterly dividend of $1.30. This represents a $5.40 annualized dividend and a yield of 2.85%. Huntington Ingalls Industries’s dividend payout ratio is presently 29.36%.

About Huntington Ingalls Industries

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.