In a recent transaction, Edmond E. Hughes Jr., the Executive Vice President and Chief Human Resources Officer of Huntington Ingalls (NYSE:HII) Industries, Inc. (NYSE:HII), sold 1,500 shares of the company's common stock. According to the filing, the shares were sold at a price of $256.068 each, amounting to a total value of over $384,000.
The transaction, which took place on May 20, 2024, was disclosed in a Form 4 filing with the Securities and Exchange Commission. Following the sale, Hughes still holds 8,134.787 shares of Huntington Ingalls Industries directly, indicating a continued vested interest in the company's performance.
Huntington Ingalls Industries, headquartered in Newport News, Virginia, is known for its shipbuilding and repairing services, a critical industry for both commercial and defense sectors.
The filing also noted holdings in the form of units of interest in the company's Savings Excess Plan, which are calculated by the plan's administrator to represent shares of common stock. These holdings are separate from the direct ownership of common stock and were not part of the recent sale.
Investors often monitor insider transactions as they can provide insights into an executive's view of the company's future prospects. The sale by Hughes is a transaction of interest for shareholders and potential investors as they assess the company's current valuation and future potential.
The stock transactions of executives are routinely disclosed to the public through SEC filings, providing transparency and allowing investors to stay informed about the financial dealings of company insiders.
InvestingPro Insights
Huntington Ingalls Industries (NYSE:HII), a prominent player in shipbuilding and repair services, showcases a robust financial stature with some promising indicators for investors. With a market capitalization of $10.1 billion, the company stands as a significant entity in the defense and commercial sectors.
One of the notable InvestingPro Tips for Huntington Ingalls is its perfect Piotroski Score of 9, suggesting the company's strong financial position. Additionally, the company has demonstrated a commitment to rewarding shareholders by raising its dividend for 12 consecutive years, a testament to its financial health and management's confidence in its future cash flows.
From a valuation perspective, Huntington Ingalls is currently trading at a P/E ratio of 14.45, which is relatively low when considering near-term earnings growth. This could indicate that the stock is undervalued compared to its growth potential. The company's dividend yield stands at a healthy 2.03%, coupled with a dividend growth of 4.84% in the last twelve months as of Q1 2024, which could appeal to income-focused investors.
However, it's important to note that four analysts have revised their earnings expectations downwards for the upcoming period. This sentiment should be weighed alongside the company's other financial metrics and InvestingPro Tips when making investment decisions.
For investors seeking a more in-depth analysis, there are additional InvestingPro Tips available, which can be accessed through the company's dedicated page on Investing.com. Use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, and gain access to an extensive range of investment insights and data.
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