Sound Shore Management Inc. CT Has $85.10 Million Holdings in Huntington Ingalls Industries, Inc. (NYSE:HII)

Sound Shore Management Inc. CT raised its position in shares of Huntington Ingalls Industries, Inc. (NYSE:HII) by 50.7% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 345,489 shares of the aerospace company’s stock after acquiring an additional 116,180 shares during the period. Huntington Ingalls Industries comprises about 2.8% of Sound Shore Management Inc. CT’s investment portfolio, making the stock its 13th largest holding. Sound Shore Management Inc. CT’s holdings in Huntington Ingalls Industries were worth $85,104,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of HII. Capital World Investors increased its holdings in Huntington Ingalls Industries by 0.7% during the 4th quarter. Capital World Investors now owns 2,312,383 shares of the aerospace company’s stock valued at $600,387,000 after purchasing an additional 15,798 shares in the last quarter. Van ECK Associates Corp increased its stake in shares of Huntington Ingalls Industries by 16.1% in the second quarter. Van ECK Associates Corp now owns 914,410 shares of the aerospace company’s stock valued at $225,247,000 after buying an additional 126,654 shares in the last quarter. Earnest Partners LLC raised its holdings in shares of Huntington Ingalls Industries by 4.0% in the first quarter. Earnest Partners LLC now owns 626,987 shares of the aerospace company’s stock valued at $182,748,000 after buying an additional 24,368 shares during the last quarter. Bank of New York Mellon Corp lifted its position in Huntington Ingalls Industries by 8.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 521,426 shares of the aerospace company’s stock worth $128,443,000 after buying an additional 40,942 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in Huntington Ingalls Industries by 2.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 502,442 shares of the aerospace company’s stock worth $123,771,000 after acquiring an additional 13,439 shares during the last quarter. Institutional investors own 90.46% of the company’s stock.

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. lowered shares of Huntington Ingalls Industries from an “overweight” rating to a “neutral” rating and upped their target price for the stock from $280.00 to $285.00 in a research report on Monday, September 9th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, Huntington Ingalls Industries has a consensus rating of “Hold” and an average target price of $275.50.

Huntington Ingalls Industries Stock Down 0.2 %

Shares of NYSE:HII opened at $267.51 on Friday. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.82 and a quick ratio of 0.76. The stock has a market cap of $10.55 billion, a price-to-earnings ratio of 15.08, a P/E/G ratio of 2.24 and a beta of 0.52. The company has a 50 day moving average of $268.25 and a 200-day moving average of $266.16. Huntington Ingalls Industries, Inc. has a one year low of $199.11 and a one year high of $299.50.

Huntington Ingalls Industries (NYSE:HII) last released its earnings results on Thursday, August 1st. The aerospace company reported $4.38 EPS for the quarter, topping analysts’ consensus estimates of $3.61 by $0.77. The firm had revenue of $2.98 billion during the quarter, compared to analyst estimates of $2.84 billion. Huntington Ingalls Industries had a net margin of 6.35% and a return on equity of 18.55%. The business’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.27 EPS. On average, sell-side analysts forecast that Huntington Ingalls Industries, Inc. will post 16.57 earnings per share for the current year.

Huntington Ingalls Industries Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were paid a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 1.94%. The ex-dividend date of this dividend was Friday, August 30th. Huntington Ingalls Industries’s payout ratio is 29.31%.

Huntington Ingalls Industries Company 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.