State Treasurer State of Michigan Cuts Holdings in Huntington Ingalls Industries Inc (HII)

State Treasurer State of Michigan lowered its holdings in shares of Huntington Ingalls Industries Inc (NYSE:HII) by 2.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,900 shares of the aerospace company’s stock after selling 300 shares during the period. State Treasurer State of Michigan’s holdings in Huntington Ingalls Industries were worth $3,303,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in HII. Bank of Montreal Can acquired a new position in Huntington Ingalls Industries during the second quarter worth about $185,624,000. FMR LLC raised its position in Huntington Ingalls Industries by 18.5% during the second quarter. FMR LLC now owns 3,813,494 shares of the aerospace company’s stock worth $826,727,000 after acquiring an additional 595,334 shares during the last quarter. Marshall Wace LLP raised its position in Huntington Ingalls Industries by 6,975.0% during the second quarter. Marshall Wace LLP now owns 157,630 shares of the aerospace company’s stock worth $34,173,000 after acquiring an additional 155,402 shares during the last quarter. Hexavest Inc. acquired a new position in Huntington Ingalls Industries during the second quarter worth about $31,074,000. Finally, State of New Jersey Common Pension Fund D raised its position in Huntington Ingalls Industries by 131.6% during the second quarter. State of New Jersey Common Pension Fund D now owns 242,000 shares of the aerospace company’s stock worth $52,463,000 after acquiring an additional 137,500 shares during the last quarter. Institutional investors own 85.47% of the company’s stock.

In related news, VP Jerri F. Dickseski sold 271 shares of the business’s stock in a transaction that occurred on Monday, October 1st. The shares were sold at an average price of $257.84, for a total value of $69,874.64. Following the completion of the sale, the vice president now directly owns 34,750 shares in the company, valued at $8,959,940. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 2.32% of the stock is currently owned by insiders.

HII has been the subject of a number of research reports. Goldman Sachs Group cut shares of Huntington Ingalls Industries from a “neutral” rating to a “sell” rating and set a $208.00 target price for the company. in a research report on Thursday, October 11th. Zacks Investment Research cut shares of Huntington Ingalls Industries from a “buy” rating to a “hold” rating in a research report on Monday, October 15th. ValuEngine raised shares of Huntington Ingalls Industries from a “sell” rating to a “hold” rating in a research report on Monday, October 22nd. Seaport Global Securities started coverage on shares of Huntington Ingalls Industries in a research report on Thursday, August 23rd. They issued a “neutral” rating and a $260.00 price objective for the company. Finally, Cowen reissued a “buy” rating and issued a $250.00 price objective on shares of Huntington Ingalls Industries in a research report on Thursday, August 2nd. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and nine have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $265.33.

NYSE:HII opened at $214.16 on Wednesday. The company has a quick ratio of 1.31, a current ratio of 1.43 and a debt-to-equity ratio of 0.75. The company has a market capitalization of $9.39 billion, a PE ratio of 17.64, a PEG ratio of 0.81 and a beta of 0.99. Huntington Ingalls Industries Inc has a 1-year low of $201.91 and a 1-year high of $276.69.

Huntington Ingalls Industries (NYSE:HII) last posted its quarterly earnings data on Thursday, August 2nd. The aerospace company reported $5.40 earnings per share for the quarter, beating analysts’ consensus estimates of $4.21 by $1.19. Huntington Ingalls Industries had a net margin of 7.84% and a return on equity of 39.78%. The business had revenue of $2.02 billion during the quarter, compared to analyst estimates of $1.88 billion. During the same quarter in the previous year, the business posted $3.21 earnings per share. The company’s revenue was up 8.7% on a year-over-year basis. Research analysts anticipate that Huntington Ingalls Industries Inc will post 17.24 earnings per share for the current fiscal year.

Huntington Ingalls Industries Profile

Huntington Ingalls Industries, Inc engages in the designing, building, overhauling, and repairing military ships in the United States. It operates through three segments: Ingalls Shipbuilding, Newport News Shipbuilding, and Technical Solutions. The company is involved in the design and construction of non-nuclear ships comprising amphibious assault ships that include deck amphibious ships and transport dock ships; surface combatants; and national security cutters for the U.S.

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Institutional Ownership by Quarter for Huntington Ingalls Industries (NYSE:HII)

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