State of Michigan Retirement System Has $3.47 Million Stock Holdings in Huntington Ingalls Industries, Inc. (NYSE:HII)

State of Michigan Retirement System decreased its holdings in Huntington Ingalls Industries, Inc. (NYSE:HII) by 0.8% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 11,890 shares of the aerospace company’s stock after selling 100 shares during the period. State of Michigan Retirement System’s holdings in Huntington Ingalls Industries were worth $3,466,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of HII. LPL Financial LLC lifted its holdings in shares of Huntington Ingalls Industries by 19.5% in the third quarter. LPL Financial LLC now owns 37,661 shares of the aerospace company’s stock worth $7,705,000 after acquiring an additional 6,153 shares during the last quarter. Trexquant Investment LP acquired a new stake in Huntington Ingalls Industries during the 3rd quarter valued at approximately $480,000. Treasurer of the State of North Carolina raised its stake in Huntington Ingalls Industries by 0.5% during the third quarter. Treasurer of the State of North Carolina now owns 17,769 shares of the aerospace company’s stock worth $3,635,000 after buying an additional 91 shares during the last quarter. Tower Research Capital LLC TRC lifted its stake in shares of Huntington Ingalls Industries by 831.9% in the 3rd quarter. Tower Research Capital LLC TRC now owns 3,122 shares of the aerospace company’s stock valued at $639,000 after purchasing an additional 2,787 shares during the period. Finally, Bank of Nova Scotia boosted its holdings in shares of Huntington Ingalls Industries by 9.2% during the 3rd quarter. Bank of Nova Scotia now owns 5,945 shares of the aerospace company’s stock worth $1,216,000 after buying an additional 503 shares in the last quarter. Institutional investors and hedge funds own 90.46% of the company’s stock.

Analysts Set New Price Targets

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

Huntington Ingalls Industries Stock Performance

NYSE HII 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 firm has a market cap of $9.76 billion, a P/E ratio of 13.95, a price-to-earnings-growth ratio of 2.10 and a beta of 0.53. The company has a quick ratio of 0.89, a current ratio of 0.96 and a debt-to-equity ratio of 0.54. The company’s 50 day moving average is $252.80 and its 200-day moving average is $266.38.

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

Huntington Ingalls Industries Dividend Announcement

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

Insider Activity

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

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.