Cullinan Associates Inc. Invests $583,000 in Huntington Ingalls Industries, Inc. (NYSE:HII)

Cullinan Associates Inc. acquired a new position in Huntington Ingalls Industries, Inc. (NYSE:HII) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 2,000 shares of the aerospace company’s stock, valued at approximately $583,000.

Several other large investors have also added to or reduced their stakes in HII. Allspring Global Investments Holdings LLC lifted its position in Huntington Ingalls Industries by 21.0% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 120,478 shares of the aerospace company’s stock worth $35,116,000 after buying an additional 20,927 shares in the last quarter. Oak Thistle LLC bought a new stake in Huntington Ingalls Industries during the first quarter worth about $473,000. Hennion & Walsh Asset Management Inc. acquired a new position in Huntington Ingalls Industries during the first quarter valued at approximately $567,000. Capital Insight Partners LLC grew its stake in Huntington Ingalls Industries by 52.7% in the first quarter. Capital Insight Partners LLC now owns 1,738 shares of the aerospace company’s stock valued at $507,000 after purchasing an additional 600 shares in the last quarter. Finally, Sunbelt Securities Inc. grew its stake in Huntington Ingalls Industries by 26.3% in the first quarter. Sunbelt Securities Inc. now owns 1,022 shares of the aerospace company’s stock valued at $298,000 after purchasing an additional 213 shares in the last quarter. Institutional investors and hedge funds own 90.46% of the company’s stock.

Huntington Ingalls Industries Trading Up 0.3 %

Shares of HII stock opened at $247.48 on Wednesday. Huntington Ingalls Industries, Inc. has a 12-month low of $199.11 and a 12-month high of $299.50. The company has a market capitalization of $9.76 billion, a PE ratio of 13.95, a price-to-earnings-growth ratio of 2.10 and a beta of 0.53. The firm has a 50 day moving average price of $252.80 and a two-hundred day moving average price of $266.38. The company has a quick ratio of 0.89, a current ratio of 0.96 and a debt-to-equity ratio of 0.54.

Huntington Ingalls Industries (NYSE:HII) last released its quarterly earnings results on Thursday, May 2nd. The aerospace company reported $3.87 earnings per share for the quarter, topping the consensus estimate of $3.50 by $0.37. Huntington Ingalls Industries had a return on equity of 18.08% and a net margin of 6.09%. The business had revenue of $2.80 billion during the quarter, compared to analysts’ expectations of $2.81 billion. During the same period last year, the firm posted $3.23 EPS. The firm’s revenue for the quarter was up 4.7% compared to the same quarter last year. As a group, analysts predict that Huntington Ingalls Industries, Inc. will post 16.35 earnings per share for the current year.

Huntington Ingalls Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Friday, May 31st were paid a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 2.10%. The ex-dividend date was Friday, May 31st. Huntington Ingalls Industries’s dividend payout ratio (DPR) is 29.31%.

Insider Transactions at Huntington Ingalls Industries

In related news, VP Edmond E. Jr. Hughes sold 1,500 shares of the company’s stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $256.07, for a total transaction of $384,105.00. Following the completion of the transaction, the vice president now directly owns 8,135 shares in the company, valued at approximately $2,083,129.45. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, VP Edmond E. Jr. Hughes sold 1,500 shares of Huntington Ingalls Industries stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $256.07, for a total transaction of $384,105.00. Following the sale, the vice president now directly owns 8,135 shares of the company’s stock, valued at $2,083,129.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Jennifer R. Boykin sold 1,043 shares of Huntington Ingalls Industries stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $252.03, for a total transaction of $262,867.29. Following the sale, the vice president now owns 11,961 shares in the company, valued at $3,014,530.83. The disclosure for this sale can be found here. Company insiders own 0.72% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on HII shares. StockNews.com downgraded Huntington Ingalls Industries from a “strong-buy” rating to a “buy” rating in a report on Friday, May 3rd. Citigroup initiated coverage on shares of Huntington Ingalls Industries in a research note on Monday, May 20th. They issued a “buy” rating and a $310.00 price target for the company. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Huntington Ingalls Industries from $288.00 to $295.00 and gave the stock an “overweight” rating in a research note on Thursday, March 21st. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $278.00.

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.