Oppenheimer Asset Management Inc. Boosts Stock Holdings in Huntington Ingalls Industries, Inc. (NYSE:HII)

Oppenheimer Asset Management Inc. raised its stake in Huntington Ingalls Industries, Inc. (NYSE:HII) by 39.5% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 9,729 shares of the aerospace company’s stock after purchasing an additional 2,755 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Huntington Ingalls Industries were worth $2,397,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Principal Securities Inc. purchased a new stake in Huntington Ingalls Industries during the fourth quarter valued at about $76,000. Envestnet Portfolio Solutions Inc. grew its holdings in shares of Huntington Ingalls Industries by 56.6% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 1,860 shares of the aerospace company’s stock worth $483,000 after purchasing an additional 672 shares during the period. Avantax Advisory Services Inc. acquired a new stake in Huntington Ingalls Industries during the 4th quarter worth approximately $317,000. Vanguard Personalized Indexing Management LLC raised its holdings in Huntington Ingalls Industries by 4.9% in the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 2,621 shares of the aerospace company’s stock valued at $681,000 after buying an additional 123 shares during the period. Finally, Janney Montgomery Scott LLC raised its holdings in Huntington Ingalls Industries by 4.4% in the fourth quarter. Janney Montgomery Scott LLC now owns 5,492 shares of the aerospace company’s stock valued at $1,426,000 after buying an additional 231 shares during the period. 90.46% of the stock is owned by hedge funds and other institutional investors.

Huntington Ingalls Industries Price Performance

HII stock opened at $265.41 on Wednesday. The firm has a market cap of $10.47 billion, a P/E ratio of 14.96, a price-to-earnings-growth ratio of 2.24 and a beta of 0.52. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.76 and a current ratio of 0.82. Huntington Ingalls Industries, Inc. has a 1 year low of $199.11 and a 1 year high of $299.50. The stock has a 50-day simple moving average of $267.01 and a 200-day simple moving average of $266.32.

Huntington Ingalls Industries (NYSE:HII) last released its quarterly earnings results on Thursday, August 1st. The aerospace company reported $4.38 earnings per share 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 analysts’ expectations of $2.84 billion. Huntington Ingalls Industries had a return on equity of 18.55% and a net margin of 6.35%. Huntington Ingalls Industries’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.27 EPS. On average, equities analysts predict that Huntington Ingalls Industries, Inc. will post 16.57 earnings per share for the current fiscal year.

Huntington Ingalls Industries Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were paid a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 1.96%. The ex-dividend date was Friday, August 30th. Huntington Ingalls Industries’s dividend payout ratio (DPR) is 29.31%.

Wall Street Analysts Forecast Growth

Separately, JPMorgan Chase & Co. downgraded shares of Huntington Ingalls Industries from an “overweight” rating to a “neutral” rating and boosted their price objective for the stock from $280.00 to $285.00 in a research note on Monday, September 9th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $275.50.

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.