Northwestern Mutual Ups Stake in Huntington Ingalls Industries, Inc. (HII)

Huntington Ingalls Industries, Inc. (NYSE:HII) is among the undervalued wide moat stocks to buy now. Northwestern Mutual Wealth Management Co. increased its holdings in Huntington Ingalls Industries, Inc. (NYSE:HII) during the first quarter with the purchase of 1,296 shares. The firm now owns 3,785 shares of the company’s stock, valued at $772,000, as per the latest disclosure with the Securities and Exchange Commission (SEC).

As the U.S. pursues shipbuilding collaborations in Asia to enhance naval capacity, Huntington Ingalls Industries, Inc. (NYSE:HII) has appointed Eric Chewning as the executive vice president of maritime systems and corporate strategy. With solid experience in leading industrial base policy for the U.S. Department of Defense, Chewning is committed to securing national maritime supremacy by strengthening shipbuilding and fielding warfighting capabilities.

Was Jim Cramer Right About Huntington Ingalls Industries Inc. (HII)?

As stated by Chris Kastner, HII president and CEO,

“HII is firmly committed to increasing shipbuilding throughput for the U.S. Navy. We are doing that both by improving performance within our shipyards and expanding the industrial base.”

Huntington Ingalls Industries, Inc. (NYSE:HII) is a Virginia-based company that builds and repairs military ships. Incorporated in 1886, the company operates through three segments: Ingalls, Newport News, and Mission Technologies.

While we acknowledge the potential of HII to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than HII and that has 100x upside potential, check out our report about this cheapest AI stock.

READ NEXT: The Best and Worst Dow Stocks for the Next 12 Months and 10 Unstoppable Stocks That Could Double Your Money.

Disclosure: None.