PNC Financial Services Group Inc. Sells 1,311 Shares of Huntington Ingalls Industries, Inc. (NYSE:HII)

PNC Financial Services Group Inc. reduced its position in shares of Huntington Ingalls Industries, Inc. (NYSE:HII) by 10.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 11,639 shares of the aerospace company’s stock after selling 1,311 shares during the period. PNC Financial Services Group Inc.’s holdings in Huntington Ingalls Industries were worth $2,199,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in HII. Assetmark Inc. lifted its position in shares of Huntington Ingalls Industries by 316.9% during the third quarter. Assetmark Inc. now owns 346 shares of the aerospace company’s stock valued at $91,000 after purchasing an additional 263 shares in the last quarter. Apollon Wealth Management LLC raised its position in Huntington Ingalls Industries by 16.1% in the third quarter. Apollon Wealth Management LLC now owns 1,097 shares of the aerospace company’s stock worth $290,000 after acquiring an additional 152 shares during the period. Sumitomo Mitsui Trust Group Inc. raised its position in Huntington Ingalls Industries by 2.3% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 97,456 shares of the aerospace company’s stock worth $25,765,000 after acquiring an additional 2,149 shares during the period. Victory Capital Management Inc. raised its position in Huntington Ingalls Industries by 1.9% in the third quarter. Victory Capital Management Inc. now owns 29,748 shares of the aerospace company’s stock worth $7,865,000 after acquiring an additional 561 shares during the period. Finally, CIBC Asset Management Inc raised its position in Huntington Ingalls Industries by 7.8% in the third quarter. CIBC Asset Management Inc now owns 5,753 shares of the aerospace company’s stock worth $1,521,000 after acquiring an additional 414 shares during the period. 90.46% of the stock is owned by institutional investors.

Insider Buying and Selling at Huntington Ingalls Industries

In other Huntington Ingalls Industries news, Director Thomas C. Schievelbein acquired 2,120 shares of the stock in a transaction dated Thursday, February 13th. The stock was purchased at an average cost of $164.82 per share, for a total transaction of $349,418.40. Following the acquisition, the director now owns 7,967 shares in the company, valued at $1,313,120.94. The trade was a 36.26 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Nicolas G. Schuck sold 750 shares of the company’s stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $189.56, for a total transaction of $142,170.00. Following the sale, the chief accounting officer now owns 2,884 shares of the company’s stock, valued at $546,691.04. This represents a 20.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.72% of the stock is currently owned by company insiders.

Huntington Ingalls Industries Price Performance

Shares of NYSE:HII opened at $196.34 on Friday. The company has a 50 day moving average of $186.27 and a 200 day moving average of $213.92. The stock has a market cap of $7.70 billion, a P/E ratio of 14.06, a P/E/G ratio of 1.15 and a beta of 0.49. Huntington Ingalls Industries, Inc. has a 12 month low of $158.88 and a 12 month high of $294.81. The company has a current ratio of 1.08, a quick ratio of 1.01 and a debt-to-equity ratio of 0.58.

Huntington Ingalls Industries (NYSE:HII) last issued its quarterly earnings data on Thursday, February 6th. The aerospace company reported $3.15 EPS for the quarter, missing the consensus estimate of $3.28 by ($0.13). Huntington Ingalls Industries had a net margin of 4.77% and a return on equity of 12.81%. As a group, sell-side analysts forecast that Huntington Ingalls Industries, Inc. will post 13.99 EPS for the current fiscal year.

Huntington Ingalls Industries Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were given a dividend of $1.35 per share. The ex-dividend date was Friday, February 28th. This represents a $5.40 annualized dividend and a yield of 2.75%. Huntington Ingalls Industries’s payout ratio is presently 38.68%.

Analysts Set New Price Targets

Several analysts have commented on the stock. The Goldman Sachs Group lowered their price objective 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. Barclays lowered their price objective on shares of Huntington Ingalls Industries from $220.00 to $200.00 and set an “equal weight” rating on the stock in a research report on Monday, February 10th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $221.22.

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.