Bank of New York Mellon Corp Trims Stock Holdings in Huntington Ingalls Industries, Inc. (NYSE:HII)

Bank of New York Mellon Corp cut its stake in shares of Huntington Ingalls Industries, Inc. (NYSE:HII - Free Report) by 21.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 423,444 shares of the aerospace company's stock after selling 118,074 shares during the quarter. Bank of New York Mellon Corp owned 1.08% of Huntington Ingalls Industries worth $80,018,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. State of Alaska Department of Revenue grew its position in Huntington Ingalls Industries by 6.1% in the third quarter. State of Alaska Department of Revenue now owns 4,553 shares of the aerospace company's stock worth $1,203,000 after acquiring an additional 260 shares in the last quarter. Nisa Investment Advisors LLC lifted its stake in Huntington Ingalls Industries by 2.6% during the third quarter. Nisa Investment Advisors LLC now owns 3,075 shares of the aerospace company's stock worth $813,000 after purchasing an additional 77 shares during the last quarter. abrdn plc boosted its holdings in shares of Huntington Ingalls Industries by 10.8% in the 3rd quarter. abrdn plc now owns 14,583 shares of the aerospace company's stock worth $3,845,000 after purchasing an additional 1,420 shares in the last quarter. Farther Finance Advisors LLC increased its position in shares of Huntington Ingalls Industries by 40.7% during the 3rd quarter. Farther Finance Advisors LLC now owns 577 shares of the aerospace company's stock valued at $152,000 after purchasing an additional 167 shares during the last quarter. Finally, Harbor Capital Advisors Inc. raised its holdings in shares of Huntington Ingalls Industries by 114.4% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 4,361 shares of the aerospace company's stock valued at $1,153,000 after buying an additional 2,327 shares in the last quarter. Institutional investors own 90.46% of the company's stock.

Analyst Ratings Changes

Several analysts have issued reports on the company. Bank of America cut their target price on Huntington Ingalls Industries from $250.00 to $195.00 and set an "underperform" rating for the company in a research note on Wednesday, November 13th. Barclays cut their price objective on shares of Huntington Ingalls Industries from $220.00 to $200.00 and set an "equal weight" rating for the company in a research note on Monday, February 10th. Finally, The Goldman Sachs Group decreased their target price on shares of Huntington Ingalls Industries from $188.00 to $145.00 and set a "sell" rating on the stock in a research report on Monday, February 10th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $221.22.

Huntington Ingalls Industries Trading Down 1.7 %

HII traded down $3.04 during trading on Monday, hitting $172.54. 1,292,331 shares of the stock traded hands, compared to its average volume of 742,323. The firm has a 50-day moving average of $186.15 and a 200 day moving average of $218.87. Huntington Ingalls Industries, Inc. has a 12-month low of $158.88 and a 12-month high of $299.50. The firm has a market capitalization of $6.75 billion, a P/E ratio of 12.36, a price-to-earnings-growth ratio of 1.15 and a beta of 0.57. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.08 and a quick ratio of 1.01.

Huntington Ingalls Industries (NYSE:HII - Get Free Report) last posted its earnings results on Thursday, February 6th. The aerospace company reported $3.15 earnings per share for the quarter, missing analysts' consensus estimates of $3.28 by ($0.13). Huntington Ingalls Industries had a return on equity of 12.81% and a net margin of 4.77%. Equities research analysts anticipate that Huntington Ingalls Industries, Inc. will post 13.99 EPS for the current year.

Huntington Ingalls Industries Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be paid a dividend of $1.35 per share. The ex-dividend date of this dividend is Friday, February 28th. This represents a $5.40 annualized dividend and a dividend yield of 3.13%. Huntington Ingalls Industries's dividend payout ratio (DPR) is presently 38.68%.

Insider Activity at Huntington Ingalls Industries

In related news, Director Thomas C. Schievelbein acquired 2,120 shares of Huntington Ingalls Industries stock in a transaction on Thursday, February 13th. The shares were acquired at an average cost of $164.82 per share, with a total value of $349,418.40. Following the transaction, the director now owns 7,967 shares in the company, valued at $1,313,120.94. This trade represents a 36.26 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.72% of the stock is owned by corporate insiders.

Huntington Ingalls Industries Company 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.