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

Sound Shore Management Inc. CT raised its holdings in shares of Huntington Ingalls Industries, Inc. (NYSE:HII) by 50.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 345,489 shares of the aerospace company’s stock after buying an additional 116,180 shares during the quarter. Huntington Ingalls Industries comprises 2.8% of Sound Shore Management Inc. CT’s investment portfolio, making the stock its 13th largest holding. Sound Shore Management Inc. CT owned approximately 0.88% of Huntington Ingalls Industries worth $85,104,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of HII. Avantax Advisory Services Inc. acquired a new position in Huntington Ingalls Industries during the 4th quarter valued at $317,000. Janney Montgomery Scott LLC lifted its stake in shares of 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. PNC Financial Services Group Inc. grew its position in Huntington Ingalls Industries by 11.6% during the fourth quarter. PNC Financial Services Group Inc. now owns 12,393 shares of the aerospace company’s stock worth $3,218,000 after buying an additional 1,290 shares in the last quarter. UBS Group AG grew its position in Huntington Ingalls Industries by 28.4% during the fourth quarter. UBS Group AG now owns 159,061 shares of the aerospace company’s stock worth $41,299,000 after buying an additional 35,142 shares in the last quarter. Finally, Coldstream Capital Management Inc. bought a new position in Huntington Ingalls Industries during the fourth quarter valued at about $318,000. 90.46% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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

Huntington Ingalls Industries Price Performance

NYSE:HII opened at $267.51 on Friday. The company has a market capitalization of $10.55 billion, a price-to-earnings ratio of 15.08, a PEG 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 52 week low of $199.11 and a 52 week high of $299.50. 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 (NYSE:HII) last announced its quarterly 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. Huntington Ingalls Industries had a net margin of 6.35% and a return on equity of 18.55%. The firm had revenue of $2.98 billion during the quarter, compared to analysts’ expectations of $2.84 billion. During the same quarter last year, the company earned $3.27 earnings per share. The company’s revenue for the quarter was up 6.8% compared to the same quarter last year. As a group, equities research analysts anticipate that Huntington Ingalls Industries, Inc. will post 16.57 earnings per share for the current fiscal year.

Huntington Ingalls Industries Dividend Announcement

The business 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. This represents a $5.20 dividend on an annualized basis and a yield of 1.94%. The ex-dividend date was Friday, August 30th. Huntington Ingalls Industries’s dividend payout ratio (DPR) is 29.31%.

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.