In a recent move, Jennifer R. Boykin, the Executive Vice President and President of Newport News Shipbuilding at Huntington Ingalls (NYSE:HII) Industries, Inc. (NYSE:HII), sold shares of the company stock, resulting in a total transaction value exceeding $260,000.
The sale, which took place on May 10, 2024, involved 1,042.88 shares of Huntington Ingalls common stock at a price of $252.03 per share. Following this transaction, Boykin's direct holdings in the company dropped to zero, as indicated by the latest SEC filing. It's noteworthy that the shares sold were held indirectly by Boykin through a 401(k) plan, as part of an age 59.5 withdrawal from the Huntington Ingalls Industries, Inc. Savings Plan.
Despite this sale, Boykin still retains a substantial interest in the company through other holdings. The report also noted that she has an interest in the HII Stock Fund of the Huntington Ingalls Industries, Inc. Savings Excess Plan, which is held in the form of units of interest equating to 6,438.0376 shares of issuer common stock. Additionally, she holds 11,961.436 shares of common stock directly.
The transaction was signed on behalf of Jennifer R. Boykin by Kathy S. Owen, acting by Power of Attorney, on May 13, 2024.
Investors often keep a close eye on insider transactions as they can provide insights into executives' confidence in the company's future performance. However, it's important to note that there are various reasons why executives may decide to sell shares, and such transactions do not always reflect their outlook on the company's financial health or future prospects.
InvestingPro Insights
Following the recent insider transaction by Jennifer R. Boykin at Huntington Ingalls Industries, Inc. (NYSE:HII), investors may be looking for additional context to gauge the company's financial health and future prospects. Huntington Ingalls, with a market capitalization of $10.01 billion, is currently trading at a P/E ratio of 14.37, reflecting a valuation that is relatively low when considering near-term earnings growth. This aligns with one of the InvestingPro Tips highlighting that the company is trading at a low P/E ratio relative to near-term earnings growth.
Moreover, the company's commitment to shareholder returns is evident with its track record of raising dividends, now for 13 consecutive years, a positive sign for income-focused investors. This is further reinforced by the InvestingPro Tip indicating HII's consistency in maintaining dividend payments. The current dividend yield stands at 2.06%, with a dividend growth over the last twelve months of 4.84%.
On the performance front, HII has experienced a revenue growth of 7.53% over the last twelve months as of Q1 2024, which may interest investors looking for companies with top-line expansion. However, it's worth noting that the company's gross profit margins are considered weak at 14.42%, as per an InvestingPro Tip. This could be a point of concern for those focused on profitability metrics.
For those interested in further insights and metrics, there are additional InvestingPro Tips available on the dedicated page for Huntington Ingalls Industries, Inc. at https://www.investing.com/pro/HII. To enhance your investment research, use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.