First Trust Direct Indexing L.P. Reduces Position in Huntington Ingalls Industries, Inc. (NYSE:HII)

First Trust Direct Indexing L.P. cut its holdings in shares of Huntington Ingalls Industries, Inc. (NYSE:HII) by 31.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 781 shares of the aerospace company’s stock after selling 362 shares during the period. First Trust Direct Indexing L.P.’s holdings in Huntington Ingalls Industries were worth $206,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. CWM LLC boosted its position in shares of Huntington Ingalls Industries by 142.8% during the third quarter. CWM LLC now owns 5,251 shares of the aerospace company’s stock valued at $1,388,000 after buying an additional 3,088 shares during the last quarter. SteelPeak Wealth LLC purchased a new position in Huntington Ingalls Industries in the second quarter worth about $1,769,000. SG Americas Securities LLC boosted its position in Huntington Ingalls Industries by 950.1% in the first quarter. SG Americas Securities LLC now owns 38,454 shares of the aerospace company’s stock worth $11,208,000 after purchasing an additional 34,792 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in Huntington Ingalls Industries by 30.5% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 49,805 shares of the aerospace company’s stock worth $14,517,000 after purchasing an additional 11,647 shares during the last quarter. Finally, Virtu Financial LLC purchased a new position in Huntington Ingalls Industries in the first quarter worth about $1,821,000. 90.46% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

HII has been the topic of several research reports. Alembic Global Advisors cut Huntington Ingalls Industries from an “overweight” rating to a “neutral” rating and set a $210.00 target price on the stock. in a research report on Friday, November 1st. Barclays dropped their target price on Huntington Ingalls Industries from $290.00 to $220.00 and set an “equal weight” rating on the stock in a research report on Monday. The Goldman Sachs Group dropped their target price on Huntington Ingalls Industries from $226.00 to $194.00 and set a “sell” rating on the stock in a research report on Friday, November 1st. StockNews.com downgraded Huntington Ingalls Industries from a “buy” rating to a “hold” rating in a research note on Friday, November 1st. Finally, Wolfe Research downgraded Huntington Ingalls Industries from an “outperform” rating to a “peer perform” rating in a research note on Thursday, October 10th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, Huntington Ingalls Industries presently has an average rating of “Hold” and an average price target of $233.13.

Huntington Ingalls Industries Stock Up 1.2 %

NYSE HII opened at $193.24 on Wednesday. The stock’s 50-day moving average price is $258.90 and its 200-day moving average price is $258.22. The company has a market capitalization of $7.56 billion, a P/E ratio of 10.91, a price-to-earnings-growth ratio of 1.65 and a beta of 0.55. Huntington Ingalls Industries, Inc. has a 52 week low of $184.29 and a 52 week high of $299.50. The company has a quick ratio of 0.73, a current ratio of 0.79 and a debt-to-equity ratio of 0.41.

Huntington Ingalls Industries (NYSE:HII) last issued its earnings results on Thursday, October 31st. The aerospace company reported $2.56 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.84 by ($1.28). The business had revenue of $2.75 billion for the quarter, compared to the consensus estimate of $2.87 billion. Huntington Ingalls Industries had a net margin of 5.99% and a return on equity of 16.89%. The firm’s revenue for the quarter was down 2.4% compared to the same quarter last year. During the same period last year, the business posted $3.70 EPS. On average, equities research analysts predict that Huntington Ingalls Industries, Inc. will post 16.49 earnings per share for the current year.

Huntington Ingalls Industries Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be paid a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 2.79%. The ex-dividend date of this dividend is Friday, November 29th. This is an increase from Huntington Ingalls Industries’s previous quarterly dividend of $1.30. Huntington Ingalls Industries’s dividend payout ratio (DPR) is 29.36%.

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.