Municipal Employees Retirement System of Michigan Sells 4,030 Shares of Huntington Ingalls Industries, Inc. (HII)

Municipal Employees Retirement System of Michigan reduced its position in shares of Huntington Ingalls Industries, Inc. (NYSE:HII) by 22.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 13,730 shares of the aerospace company’s stock after selling 4,030 shares during the period. Municipal Employees Retirement System of Michigan’s holdings in Huntington Ingalls Industries were worth $3,109,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Howe & Rusling Inc. boosted its holdings in shares of Huntington Ingalls Industries by 4,844.4% during the 3rd quarter. Howe & Rusling Inc. now owns 445 shares of the aerospace company’s stock worth $101,000 after buying an additional 436 shares during the period. Toronto Dominion Bank boosted its holdings in shares of Huntington Ingalls Industries by 6.8% during the 2nd quarter. Toronto Dominion Bank now owns 565 shares of the aerospace company’s stock worth $105,000 after buying an additional 36 shares during the period. Global X Management Co. LLC bought a new stake in shares of Huntington Ingalls Industries during the 2nd quarter worth $125,000. Pacer Advisors Inc. boosted its holdings in shares of Huntington Ingalls Industries by 7.0% during the 2nd quarter. Pacer Advisors Inc. now owns 889 shares of the aerospace company’s stock worth $165,000 after buying an additional 58 shares during the period. Finally, Puplava Financial Services Inc. boosted its holdings in shares of Huntington Ingalls Industries by 10.2% during the 2nd quarter. Puplava Financial Services Inc. now owns 1,138 shares of the aerospace company’s stock worth $212,000 after buying an additional 105 shares during the period. 84.65% of the stock is owned by institutional investors and hedge funds.

COPYRIGHT VIOLATION NOTICE: “Municipal Employees Retirement System of Michigan Sells 4,030 Shares of Huntington Ingalls Industries, Inc. (HII)” was originally reported by Chaffey Breeze and is the sole property of of Chaffey Breeze. If you are reading this report on another site, it was illegally copied and republished in violation of US & international copyright legislation. The correct version of this report can be viewed at https://www.chaffeybreeze.com/2017/11/13/municipal-employees-retirement-system-of-michigan-sells-4030-shares-of-huntington-ingalls-industries-inc-hii.html.

Several analysts recently issued reports on the stock. Credit Suisse Group reaffirmed a “neutral” rating and set a $241.00 price objective (up from $211.00) on shares of Huntington Ingalls Industries in a report on Thursday. Zacks Investment Research raised shares of Huntington Ingalls Industries from a “hold” rating to a “buy” rating and set a $282.00 price target for the company in a report on Friday. Citigroup Inc. reissued a “neutral” rating and issued a $233.00 price target (up from $224.00) on shares of Huntington Ingalls Industries in a report on Monday, October 9th. Cowen and Company reissued a “hold” rating and issued a $225.00 price target on shares of Huntington Ingalls Industries in a report on Friday, October 6th. Finally, ValuEngine raised shares of Huntington Ingalls Industries from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $222.57.

Shares of Huntington Ingalls Industries, Inc. (HII) traded down $1.89 during trading on Monday, hitting $240.66. 284,700 shares of the company were exchanged, compared to its average volume of 337,132. The firm has a market cap of $10,890.00, a PE ratio of 20.02, a P/E/G ratio of 1.34 and a beta of 1.19. The company has a quick ratio of 1.38, a current ratio of 1.52 and a debt-to-equity ratio of 0.75. Huntington Ingalls Industries, Inc. has a 1-year low of $169.87 and a 1-year high of $253.44.

Huntington Ingalls Industries (NYSE:HII) last announced its earnings results on Wednesday, November 8th. The aerospace company reported $3.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.78 by $0.49. The business had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.80 billion. Huntington Ingalls Industries had a net margin of 8.31% and a return on equity of 33.37%. The firm’s revenue for the quarter was up 10.7% on a year-over-year basis. During the same quarter last year, the company posted $2.27 EPS. equities analysts predict that Huntington Ingalls Industries, Inc. will post 11.99 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 8th. Shareholders of record on Friday, November 24th will be given a $0.72 dividend. This represents a $2.88 annualized dividend and a yield of 1.20%. The ex-dividend date is Wednesday, November 22nd. This is a boost from Huntington Ingalls Industries’s previous quarterly dividend of $0.60. Huntington Ingalls Industries’s dividend payout ratio (DPR) is presently 18.07%.

Huntington Ingalls Industries declared that its Board of Directors has initiated a stock repurchase plan on Tuesday, November 7th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the aerospace company to buy shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its shares are undervalued.

Huntington Ingalls Industries Company Profile

Huntington Ingalls Industries, Inc is a military shipbuilding company and a provider of professional services to partners in government and industry. The Company’s business consists of the design, construction, repair and maintenance of nuclear-powered ships and non-nuclear ships for the United States Navy and coastal defense surface ships for the United States Coast Guard, as well as the refueling and overhaul and inactivation of nuclear-powered ships for the United States Navy.

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

Receive News & Ratings for Huntington Ingalls Industries Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Huntington Ingalls Industries Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply