Carnegie Investment Counsel Reduces Stock Holdings in Huntington Ingalls Industries, Inc. (NYSE:HII)

Carnegie Investment Counsel reduced its stake in shares of Huntington Ingalls Industries, Inc. (NYSE:HII) by 18.4% during the second quarter, Holdings Channel reports. The firm owned 3,883 shares of the aerospace company’s stock after selling 875 shares during the quarter. Carnegie Investment Counsel’s holdings in Huntington Ingalls Industries were worth $956,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in HII. Cerity Partners LLC purchased a new stake in Huntington Ingalls Industries in the fourth quarter worth $392,000. Louisiana State Employees Retirement System bought a new position in shares of Huntington Ingalls Industries in the 4th quarter worth about $623,000. Daiwa Securities Group Inc. lifted its position in Huntington Ingalls Industries by 6.8% during the 4th quarter. Daiwa Securities Group Inc. now owns 3,505 shares of the aerospace company’s stock valued at $910,000 after acquiring an additional 223 shares during the period. Federated Hermes Inc. lifted its position in Huntington Ingalls Industries by 302.0% during the 4th quarter. Federated Hermes Inc. now owns 595 shares of the aerospace company’s stock valued at $154,000 after acquiring an additional 447 shares during the period. Finally, Xponance Inc. grew its holdings in Huntington Ingalls Industries by 21.9% in the fourth quarter. Xponance Inc. now owns 12,091 shares of the aerospace company’s stock worth $3,139,000 after purchasing an additional 2,175 shares during the period. 90.46% of the stock is currently owned by institutional investors.

Huntington Ingalls Industries Stock Down 1.6 %

Huntington Ingalls Industries stock traded down $4.47 during trading hours on Wednesday, hitting $270.76. The stock had a trading volume of 57,956 shares, compared to its average volume of 300,146. The stock’s 50-day moving average price is $257.21 and its 200-day moving average price is $267.64. The stock has a market capitalization of $10.68 billion, a P/E ratio of 15.51, a price-to-earnings-growth ratio of 2.28 and a beta of 0.53. 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 0.89, a current ratio of 0.82 and a debt-to-equity ratio of 0.41.

Huntington Ingalls Industries (NYSE:HII) last announced its quarterly earnings data 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 company had revenue of $2.98 billion during 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 firm’s revenue for the quarter was up 6.8% on a year-over-year basis. During the same period in the previous year, the business earned $3.27 EPS. Equities research analysts anticipate that Huntington Ingalls Industries, Inc. will post 16.32 EPS for the current fiscal year.

Huntington Ingalls Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Friday, August 30th will be issued a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 1.92%. The ex-dividend date of this dividend is Friday, August 30th. Huntington Ingalls Industries’s payout ratio is currently 29.31%.

Analyst Ratings Changes

Several research firms have recently issued reports on HII. Citigroup assumed coverage on shares of Huntington Ingalls Industries in a report on Monday, May 20th. They set a “buy” rating and a $310.00 target price for the company. StockNews.com cut Huntington Ingalls Industries from a “strong-buy” rating to a “buy” rating in a research note on Friday, May 3rd. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $278.00.

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.