Wealth Enhancement Advisory Services LLC Sells 52,577 Shares of Huntington Ingalls Industries, Inc. (NYSE:HII)

Wealth Enhancement Advisory Services LLC cut its stake in Huntington Ingalls Industries, Inc. (NYSE:HII) by 22.6% in the third quarter, Holdings Channel reports. The institutional investor owned 180,443 shares of the aerospace company’s stock after selling 52,577 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Huntington Ingalls Industries were worth $47,705,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Hennion & Walsh Asset Management Inc. bought a new stake in shares of Huntington Ingalls Industries in the 1st quarter worth about $567,000. Oak Thistle LLC bought a new stake in Huntington Ingalls Industries in the first quarter worth about $473,000. Allspring Global Investments Holdings LLC boosted its position in shares of Huntington Ingalls Industries by 21.0% during the first quarter. Allspring Global Investments Holdings LLC now owns 120,478 shares of the aerospace company’s stock valued at $35,116,000 after buying an additional 20,927 shares during the period. Cullinan Associates Inc. bought a new position in shares of Huntington Ingalls Industries during the first quarter valued at approximately $583,000. Finally, Measured Wealth Private Client Group LLC purchased a new stake in shares of Huntington Ingalls Industries in the first quarter worth approximately $370,000. 90.46% of the stock is owned by hedge funds and other institutional investors.

Huntington Ingalls Industries Stock Performance

HII stock opened at $253.83 on Friday. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.82 and a quick ratio of 0.76. Huntington Ingalls Industries, Inc. has a 1-year low of $213.02 and a 1-year high of $299.50. The business has a 50-day moving average price of $265.23 and a 200 day moving average price of $260.55. The company has a market capitalization of $9.96 billion, a P/E ratio of 13.47, a PEG ratio of 2.25 and a beta of 0.52.

Huntington Ingalls Industries (NYSE:HII) last announced its quarterly earnings results on Thursday, August 1st. The aerospace company reported $4.38 earnings per share for the quarter, topping the consensus estimate of $3.61 by $0.77. The firm had revenue of $2.98 billion during the quarter, compared to analysts’ expectations of $2.84 billion. Huntington Ingalls Industries had a net margin of 6.35% and a return on equity of 18.55%. The company’s revenue was up 6.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.27 EPS. As a group, equities research analysts forecast that Huntington Ingalls Industries, Inc. will post 16.49 EPS for the current fiscal year.

Huntington Ingalls Industries Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were given a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 2.05%. The ex-dividend date of this dividend was Friday, August 30th. Huntington Ingalls Industries’s payout ratio is 27.59%.

Analysts Set New Price Targets

HII has been the subject of a number of recent analyst reports. Wolfe Research cut Huntington Ingalls Industries from an “outperform” rating to a “peer perform” rating in a report on Thursday, October 10th. StockNews.com cut shares of Huntington Ingalls Industries from a “buy” rating to a “hold” rating in a report on Wednesday. Vertical Research lowered shares of Huntington Ingalls Industries from a “buy” rating to a “hold” rating and set a $275.00 price objective for the company. in a report on Thursday, October 10th. Finally, JPMorgan Chase & Co. downgraded shares of Huntington Ingalls Industries from an “overweight” rating to a “neutral” rating and upped their target price for the stock from $280.00 to $285.00 in a research note on Monday, September 9th. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $290.00.

About Huntington Ingalls Industries

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.