Fort L.P. Purchases New Stake in Huntington Ingalls Industries Inc (HII)
Fort L.P. purchased a new position in shares of Huntington Ingalls Industries Inc (NYSE:HII) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 457 shares of the aerospace company’s stock, valued at approximately $87,000.
Other institutional investors have also recently made changes to their positions in the company. Athena Capital Advisors LLC acquired a new stake in Huntington Ingalls Industries during the fourth quarter worth about $28,000. Cypress Capital Management LLC WY acquired a new stake in Huntington Ingalls Industries during the fourth quarter worth about $42,000. Belpointe Asset Management LLC acquired a new stake in Huntington Ingalls Industries during the third quarter worth about $152,000. Bessemer Group Inc. grew its stake in Huntington Ingalls Industries by 28.1% during the fourth quarter. Bessemer Group Inc. now owns 867 shares of the aerospace company’s stock worth $166,000 after buying an additional 190 shares in the last quarter. Finally, Rehmann Capital Advisory Group grew its stake in Huntington Ingalls Industries by 117.3% during the fourth quarter. Rehmann Capital Advisory Group now owns 982 shares of the aerospace company’s stock worth $187,000 after buying an additional 530 shares in the last quarter. Hedge funds and other institutional investors own 85.90% of the company’s stock.
HII opened at $204.41 on Friday. Huntington Ingalls Industries Inc has a 1-year low of $173.80 and a 1-year high of $267.73. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.88 and a current ratio of 0.95. The company has a market capitalization of $8.49 billion, a PE ratio of 10.71 and a beta of 1.14.
The business also recently declared a quarterly dividend, which was paid on Friday, March 8th. Stockholders of record on Friday, February 22nd were paid a $0.86 dividend. The ex-dividend date of this dividend was Thursday, February 21st. This represents a $3.44 dividend on an annualized basis and a dividend yield of 1.68%. Huntington Ingalls Industries’s payout ratio is currently 18.02%.
In other news, VP Christopher D. Kastner sold 3,919 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $206.49, for a total value of $809,234.31. Following the sale, the vice president now directly owns 46,185 shares in the company, valued at approximately $9,536,740.65. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Thomas B. Fargo sold 700 shares of the firm’s stock in a transaction that occurred on Wednesday, February 20th. The shares were sold at an average price of $220.57, for a total transaction of $154,399.00. Following the completion of the sale, the director now owns 648 shares in the company, valued at $142,929.36. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 11,909 shares of company stock worth $2,480,337. 2.32% of the stock is currently owned by corporate insiders.
HII has been the topic of a number of analyst reports. Barclays downgraded shares of Huntington Ingalls Industries from an “overweight” rating to an “underweight” rating and reduced their price objective for the stock from $245.00 to $215.00 in a research note on Wednesday, January 23rd. Zacks Investment Research downgraded shares of Huntington Ingalls Industries from a “buy” rating to a “hold” rating in a research note on Thursday, January 17th. Cowen reiterated a “buy” rating and set a $260.00 price objective on shares of Huntington Ingalls Industries in a research note on Monday, January 14th. Citigroup reduced their price objective on shares of Huntington Ingalls Industries from $260.00 to $240.00 and set a “buy” rating on the stock in a research note on Monday, January 14th. Finally, JPMorgan Chase & Co. initiated coverage on shares of Huntington Ingalls Industries in a research note on Monday, January 7th. They set a “neutral” rating and a $230.00 price objective on the stock. Four investment analysts have rated the stock with a sell rating, three have issued a hold rating and nine have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $248.00.
About Huntington Ingalls Industries
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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