Envestnet Asset Management Inc. Buys 29,091 Shares of Huntington Ingalls Industries, Inc. (NYSE:HII)

Envestnet Asset Management Inc. raised its stake in shares of Huntington Ingalls Industries, Inc. (NYSE:HII) by 30.5% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 124,565 shares of the aerospace company’s stock after purchasing an additional 29,091 shares during the quarter. Envestnet Asset Management Inc. owned 0.32% of Huntington Ingalls Industries worth $30,684,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Avantax Advisory Services Inc. acquired a new stake in shares of Huntington Ingalls Industries during the 4th quarter valued at about $317,000. Janney Montgomery Scott LLC boosted its position in shares of Huntington Ingalls Industries by 4.4% during the 4th quarter. Janney Montgomery Scott LLC now owns 5,492 shares of the aerospace company’s stock valued at $1,426,000 after acquiring an additional 231 shares in the last quarter. PNC Financial Services Group Inc. boosted its position in shares of Huntington Ingalls Industries by 11.6% during the 4th quarter. PNC Financial Services Group Inc. now owns 12,393 shares of the aerospace company’s stock valued at $3,218,000 after acquiring an additional 1,290 shares in the last quarter. UBS Group AG boosted its position in shares of Huntington Ingalls Industries by 28.4% during the 4th quarter. UBS Group AG now owns 159,061 shares of the aerospace company’s stock valued at $41,299,000 after acquiring an additional 35,142 shares in the last quarter. Finally, Coldstream Capital Management Inc. acquired a new stake in shares of Huntington Ingalls Industries during the 4th quarter valued at about $318,000. Institutional investors own 90.46% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Huntington Ingalls Industries Price Performance

NYSE:HII opened at $267.51 on Friday. The firm has a market cap of $10.55 billion, a PE ratio of 15.08, a price-to-earnings-growth ratio of 2.24 and a beta of 0.52. Huntington Ingalls Industries, Inc. has a 12 month low of $199.11 and a 12 month high of $299.50. The company has a quick ratio of 0.76, a current ratio of 0.82 and a debt-to-equity ratio of 0.41. The company’s 50-day moving average price is $268.25 and its two-hundred day moving average price is $266.16.

Huntington Ingalls Industries (NYSE:HII) last released its quarterly earnings results on Thursday, August 1st. The aerospace company reported $4.38 EPS for the quarter, beating analysts’ consensus estimates of $3.61 by $0.77. The firm had revenue of $2.98 billion for 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 company’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same period in the previous year, the business earned $3.27 earnings per share. On average, equities analysts anticipate that Huntington Ingalls Industries, Inc. will post 16.57 EPS 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. Shareholders of record on Friday, August 30th were given a $1.30 dividend. The ex-dividend date was Friday, August 30th. This represents a $5.20 dividend on an annualized basis and a yield of 1.94%. Huntington Ingalls Industries’s dividend payout ratio (DPR) is presently 29.31%.

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.