ICICI Prudential Asset Management Co Ltd Boosts Stake in Huntington Ingalls Industries, Inc. (NYSE:HII)

ICICI Prudential Asset Management Co Ltd grew its stake in Huntington Ingalls Industries, Inc. (NYSE:HII) by 83.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,584 shares of the aerospace company’s stock after buying an additional 16,200 shares during the period. Huntington Ingalls Industries makes up about 1.0% of ICICI Prudential Asset Management Co Ltd’s holdings, making the stock its 29th biggest holding. ICICI Prudential Asset Management Co Ltd owned 0.09% of Huntington Ingalls Industries worth $9,408,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of HII. Thurston Springer Miller Herd & Titak Inc. bought a new position in Huntington Ingalls Industries in the second quarter worth about $26,000. Evermay Wealth Management LLC purchased a new position in shares of Huntington Ingalls Industries during the first quarter valued at approximately $31,000. Kathleen S. Wright Associates Inc. bought a new position in shares of Huntington Ingalls Industries during the 3rd quarter valued at $29,000. Family Firm Inc. bought a new position in shares of Huntington Ingalls Industries in the 2nd quarter worth approximately $35,000. Finally, Rothschild Investment LLC purchased a new position in shares of Huntington Ingalls Industries during the 2nd quarter worth $37,000. 90.46% of the stock is currently owned by hedge funds and other institutional investors.

Huntington Ingalls Industries Price Performance

HII stock traded up $0.65 during mid-day trading on Wednesday, reaching $205.25. The company’s stock had a trading volume of 61,517 shares, compared to its average volume of 332,007. Huntington Ingalls Industries, Inc. has a fifty-two week low of $184.29 and a fifty-two week high of $299.50. The stock has a market cap of $8.03 billion, a PE ratio of 11.56, a P/E/G ratio of 1.74 and a beta of 0.55. The company has a current ratio of 0.79, a quick ratio of 0.73 and a debt-to-equity ratio of 0.41. The company’s 50 day moving average is $249.45 and its two-hundred day moving average is $255.12.

Huntington Ingalls Industries (NYSE:HII) last announced its quarterly earnings data on Thursday, October 31st. The aerospace company reported $2.56 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $2.75 billion during the quarter, compared to analysts’ expectations of $2.87 billion. During the same period in the prior year, the company posted $3.70 EPS. The company’s revenue for the quarter was down 2.4% compared to the same quarter last year. Equities research analysts expect that Huntington Ingalls Industries, Inc. will post 15.63 EPS 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. This represents a $5.40 annualized dividend and a yield of 2.63%. The ex-dividend date of this dividend is Friday, November 29th. This is an increase from Huntington Ingalls Industries’s previous quarterly dividend of $1.30. Huntington Ingalls Industries’s dividend payout ratio (DPR) is 29.36%.

Insider Activity at Huntington Ingalls Industries

In related news, VP D R. Wyatt sold 400 shares of the company’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $205.24, for a total value of $82,096.00. Following the completion of the sale, the vice president now directly owns 19,627 shares of the company’s stock, valued at $4,028,245.48. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.72% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on HII. Wolfe Research downgraded Huntington Ingalls Industries from an “outperform” rating to a “peer perform” rating in a research report on Thursday, October 10th. Vertical Research lowered Huntington Ingalls Industries from a “buy” rating to a “hold” rating and set a $275.00 price target on the stock. in a report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft decreased their price target on Huntington Ingalls Industries from $273.00 to $191.00 and set a “hold” rating for the company in a research note on Friday, November 1st. StockNews.com downgraded shares of Huntington Ingalls Industries from a “buy” rating to a “hold” rating in a research note on Friday, November 1st. Finally, The Goldman Sachs Group dropped their price target on Huntington Ingalls Industries from $226.00 to $194.00 and set a “sell” rating on the stock in a research report on Friday, November 1st. Two investment analysts have 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. According to MarketBeat, Huntington Ingalls Industries has an average rating of “Hold” and an average target price of $228.89.

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.