Verition Fund Management LLC Trims Stock Holdings in Huntington Ingalls Industries, Inc. (NYSE:HII)

Verition Fund Management LLC reduced its stake in shares of Huntington Ingalls Industries, Inc. (NYSE:HII) by 65.0% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,275 shares of the aerospace company’s stock after selling 4,231 shares during the period. Verition Fund Management LLC’s holdings in Huntington Ingalls Industries were worth $601,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in HII. CWM LLC increased its stake in shares of Huntington Ingalls Industries by 22.0% in the second quarter. CWM LLC now owns 2,163 shares of the aerospace company’s stock worth $533,000 after purchasing an additional 390 shares in the last quarter. Czech National Bank raised its holdings in Huntington Ingalls Industries by 7.9% during the second quarter. Czech National Bank now owns 7,515 shares of the aerospace company’s stock valued at $1,851,000 after acquiring an additional 549 shares during the period. ORG Partners LLC lifted its position in shares of Huntington Ingalls Industries by 484.6% in the second quarter. ORG Partners LLC now owns 152 shares of the aerospace company’s stock valued at $38,000 after acquiring an additional 126 shares in the last quarter. Envestnet Portfolio Solutions Inc. boosted its stake in shares of Huntington Ingalls Industries by 32.9% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 3,031 shares of the aerospace company’s stock worth $747,000 after acquiring an additional 751 shares during the period. Finally, SteelPeak Wealth LLC purchased a new stake in shares of Huntington Ingalls Industries during the second quarter worth about $1,769,000. 90.46% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms recently commented on HII. The Goldman Sachs Group lowered their price target on Huntington Ingalls Industries from $226.00 to $194.00 and set a “sell” rating on the stock in a report on Friday, November 1st. Vertical Research lowered shares of Huntington Ingalls Industries from a “buy” rating to a “hold” rating and set a $275.00 target price for the company. in a research report on Thursday, October 10th. Wolfe Research downgraded shares of Huntington Ingalls Industries from an “outperform” rating to a “peer perform” rating in a report on Thursday, October 10th. JPMorgan Chase & Co. downgraded shares of Huntington Ingalls Industries from an “overweight” rating to a “neutral” rating and increased their price objective for the company from $280.00 to $285.00 in a report on Monday, September 9th. Finally, TD Cowen lowered Huntington Ingalls Industries from a “buy” rating to a “hold” rating and set a $180.00 price objective for the company. in a research report on Friday, November 1st. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $228.89.

Huntington Ingalls Industries Stock Down 1.2 %

Shares of NYSE:HII opened at $190.96 on Wednesday. The company has a market cap of $7.47 billion, a price-to-earnings ratio of 10.78, a PEG ratio of 1.82 and a beta of 0.55. Huntington Ingalls Industries, Inc. has a 12 month low of $184.29 and a 12 month high of $299.50. 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 has a 50-day moving average price of $221.63 and a 200 day moving average price of $246.58.

Huntington Ingalls Industries (NYSE:HII) last posted its quarterly earnings data on Thursday, October 31st. The aerospace company reported $2.56 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.84 by ($1.28). The company had revenue of $2.75 billion during the quarter, compared to the consensus estimate of $2.87 billion. Huntington Ingalls Industries had a net margin of 5.99% and a return on equity of 16.89%. Huntington Ingalls Industries’s revenue for the quarter was down 2.4% on a year-over-year basis. During the same period in the previous year, the business earned $3.70 earnings per share. As a group, equities research analysts predict that Huntington Ingalls Industries, Inc. will post 14.07 earnings per share for the current year.

Huntington Ingalls Industries Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be paid a $1.35 dividend. The ex-dividend date is Friday, November 29th. This represents a $5.40 annualized dividend and a dividend yield of 2.83%. This is an increase from Huntington Ingalls Industries’s previous quarterly dividend of $1.30. Huntington Ingalls Industries’s dividend payout ratio is currently 30.49%.

Insider Transactions at Huntington Ingalls Industries

In other news, VP D R. Wyatt sold 400 shares of the stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $205.24, for a total value of $82,096.00. Following the sale, the vice president now directly owns 19,627 shares in the company, valued at approximately $4,028,245.48. This represents a 2.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.72% of the company’s stock.

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.