Diamond Hill Capital Management Inc. Invests $47.70 Million in Huntington Ingalls Industries, Inc. (NYSE:HII)

Diamond Hill Capital Management Inc. bought a new stake in Huntington Ingalls Industries, Inc. (NYSE:HII - Free Report) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 180,414 shares of the aerospace company's stock, valued at approximately $47,698,000. Diamond Hill Capital Management Inc. owned approximately 0.46% of Huntington Ingalls Industries at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. Axxcess Wealth Management LLC lifted its holdings in shares of Huntington Ingalls Industries by 4.9% during the 3rd quarter. Axxcess Wealth Management LLC now owns 1,584 shares of the aerospace company's stock worth $419,000 after acquiring an additional 74 shares during the period. Covestor Ltd lifted its holdings in shares of Huntington Ingalls Industries by 16.5% during the 3rd quarter. Covestor Ltd now owns 742 shares of the aerospace company's stock worth $196,000 after acquiring an additional 105 shares during the period. Mesirow Financial Investment Management Inc. purchased a new position in shares of Huntington Ingalls Industries during the 3rd quarter worth about $529,000. Tompkins Financial Corp purchased a new position in shares of Huntington Ingalls Industries during the 3rd quarter worth about $132,000. Finally, Assetmark Inc. lifted its holdings in shares of Huntington Ingalls Industries by 316.9% during the 3rd quarter. Assetmark Inc. now owns 346 shares of the aerospace company's stock worth $91,000 after acquiring an additional 263 shares during the period. 90.46% of the stock is currently owned by hedge funds and other institutional investors.

Huntington Ingalls Industries Stock Up 2.4 %

NYSE:HII traded up $4.83 during trading hours on Monday, hitting $207.49. The stock had a trading volume of 165,846 shares, compared to its average volume of 331,023. The company has a current ratio of 0.79, a quick ratio of 0.73 and a debt-to-equity ratio of 0.41. Huntington Ingalls Industries, Inc. has a 1-year low of $184.29 and a 1-year high of $299.50. The business has a 50 day simple moving average of $252.39 and a two-hundred day simple moving average of $256.11. The company has a market cap of $8.12 billion, a PE ratio of 11.44, a price-to-earnings-growth ratio of 1.70 and a beta of 0.55.

Huntington Ingalls Industries (NYSE:HII - Get Free Report) last released its quarterly earnings results on Thursday, October 31st. The aerospace company reported $2.56 earnings per share for the quarter, missing analysts' consensus estimates of $3.84 by ($1.28). Huntington Ingalls Industries had a return on equity of 16.89% and a net margin of 5.99%. The company had revenue of $2.75 billion for the quarter, compared to analyst estimates of $2.87 billion. During the same period in the previous year, the business posted $3.70 EPS. The firm's quarterly revenue was down 2.4% compared to the same quarter last year. Analysts predict that Huntington Ingalls Industries, Inc. will post 15.63 EPS for the current year.

Huntington Ingalls Industries Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be given a dividend of $1.35 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.60%. This is an increase from Huntington Ingalls Industries's previous quarterly dividend of $1.30. Huntington Ingalls Industries's dividend payout ratio (DPR) is presently 29.36%.

Wall Street Analysts Forecast Growth

HII has been the subject of a number of research analyst reports. JPMorgan Chase & Co. downgraded shares of Huntington Ingalls Industries from an "overweight" rating to a "neutral" rating and increased their target price for the stock from $280.00 to $285.00 in a research report on Monday, September 9th. TD Cowen downgraded shares of Huntington Ingalls Industries from a "buy" rating to a "hold" rating and set a $180.00 target price for the company. in a research report on Friday, November 1st. The Goldman Sachs Group dropped their target price on shares of Huntington Ingalls Industries from $226.00 to $194.00 and set a "sell" rating for the company in a research report on Friday, November 1st. Wolfe Research downgraded shares of Huntington Ingalls Industries from an "outperform" rating to a "peer perform" rating in a research report on Thursday, October 10th. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on shares of Huntington Ingalls Industries from $273.00 to $191.00 and set a "hold" rating for the company in a research report on Friday, November 1st. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $233.13.

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.