HII secures an option year production contract for the U.S. Navy’s Lionfish unmanned undersea vehicle program, valued over $347 million.
Quiver AI Summary
HII has received an option year production contract from the U.S. Navy for the Lionfish small unmanned undersea vehicle (SUUV), which is built on the REMUS 300 platform. Lionfish is designed for various undersea warfare missions, including mine countermeasures and intelligence, surveillance, and reconnaissance (ISR). This contract follows the completion of the 42nd Lionfish vehicle and is part of a potential five-year program that could see the production of up to 200 vehicles, valued at over $347 million. HII's president of Unmanned Systems, Duane Fotheringham, emphasized the Navy's confidence in the vehicle’s performance and adaptability. Lionfish is notable for being the first cyber-compliant unmanned underwater vehicle in production for the Navy and represents a successful transition from prototype to full-scale production, illustrating the use of commercial technologies in defense applications.
Potential Positives
- HII has secured an option year production contract for the U.S. Navy's Lionfish small unmanned undersea vehicle, indicating strong demand and trust in their technology.
- The Lionfish program represents the U.S. Navy's first successful transition from an Other Transaction Authority (OTA) prototype to full-scale production, showcasing HII's innovative capabilities.
- The potential scale of the program could lead to the production of up to 200 vehicles and a total contract value exceeding $347 million, indicating significant future revenue for HII.
- With more than 90% of REMUS systems in active service today, HII demonstrates a proven track record of reliability and performance in unmanned underwater vehicles.
Potential Negatives
- None
FAQ
What is the Lionfish unmanned undersea vehicle?
The Lionfish is a small unmanned undersea vehicle (SUUV) designed for various undersea warfare missions like mine countermeasures and ISR.
Who awarded the contract for the Lionfish production?
The contract for the Lionfish production was awarded by the U.S. Navy to HII, a leader in autonomous maritime systems.
What is the potential scale of the Lionfish program?
The Lionfish program could scale to as many as 200 vehicles, with a total contract value exceeding $347 million.
Why is Lionfish significant for the U.S. Navy?
Lionfish is the Navy’s first successful transition from a prototype effort to full-scale production, showcasing advanced commercial technology integration.
How many REMUS vehicles has HII delivered worldwide?
HII has delivered over 700 REMUS vehicles to more than 30 countries, with over 90% remaining in active service today.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$HII Insider Trading Activity
$HII insiders have traded $HII stock on the open market 4 times in the past 6 months. Of those trades, 0 have been purchases and 4 have been sales.
Here’s a breakdown of recent trading of $HII stock by insiders over the last 6 months:
- THOMAS E. STIEHLE (Ex. VP and CFO) sold 4,500 shares for an estimated $1,937,430
- CHAD N. BOUDREAUX (Ex VP & Chief Legal Officer) sold 4,400 shares for an estimated $1,858,780
- EDMOND E. JR. HUGHES (Ex VP & Chief HR Officer) sold 3,500 shares for an estimated $1,118,533
- ERIC D. CHEWNING (EVP, Maritime Sys & Corp STR) sold 1,700 shares for an estimated $736,848
To track insider transactions, check out Quiver Quantitative's insider trading dashboard. You can access data on insider stock transactions through the Quiver Quantitative API insider transaction endpoint.
$HII Revenue
$HII had revenues of $3.1B in Q1 2026. This is an increase of 13.35% from the same period in the prior year.
You can track HII financials on Quiver Quantitative's HII stock page.
You can access data on HII stock through the Quiver Quantitative API.
$HII Congressional Stock Trading
Members of Congress have traded $HII stock 1 times in the past 6 months. Of those trades, 0 have been purchases and 1 have been sales.
Here’s a breakdown of recent trading of $HII stock by members of Congress over the last 6 months:
- REPRESENTATIVE BRIAN BABIN sold up to $50,000 on 05/05.
To track congressional stock trading, check out Quiver Quantitative's congressional trading dashboard. You can access data on congressional stock trades through the Quiver Quantitative API Congress trades endpoint.
$HII Hedge Fund Activity
We have seen 415 institutional investors add shares of $HII stock to their portfolio, and 318 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO removed 1,980,448 shares (-99.7%) from their portfolio in Q1 2026, for an estimated $739,538,892
- VAN ECK ASSOCIATES CORP removed 572,487 shares (-34.8%) from their portfolio in Q1 2026, for an estimated $213,778,095
- MILLENNIUM MANAGEMENT LLC removed 557,517 shares (-83.7%) from their portfolio in Q1 2026, for an estimated $208,187,998
- TD ASSET MANAGEMENT INC added 307,635 shares (+599.4%) to their portfolio in Q1 2026, for an estimated $114,877,061
- MASSACHUSETTS FINANCIAL SERVICES CO /MA/ added 241,938 shares (+inf%) to their portfolio in Q1 2026, for an estimated $90,344,487
- DIMENSIONAL FUND ADVISORS LP removed 212,290 shares (-21.7%) from their portfolio in Q1 2026, for an estimated $79,273,331
- FMR LLC removed 204,323 shares (-6.2%) from their portfolio in Q1 2026, for an estimated $76,298,294
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard. You can access data on hedge funds moves and 13F filings through the Quiver Quantitative API 13F endpoint.
$HII Analyst Ratings
Wall Street analysts have issued reports on $HII in the last several months. We have seen 2 firms issue buy ratings on the stock, and 0 firms issue sell ratings.
Here are some recent analyst ratings:
- Goldman Sachs issued a "Buy" rating on 01/20/2026
- Citigroup issued a "Buy" rating on 01/13/2026
To track analyst ratings and price targets for $HII, check out Quiver Quantitative's $HII forecast page.
$HII Price Targets
Multiple analysts have issued price targets for $HII recently. We have seen 5 analysts offer price targets for $HII in the last 6 months, with a median target of $400.0.
Here are some recent targets:
- John Godyn from Citigroup set a target price of $349.0 on 07/01/2026
- Gautam Khanna from TD Cowen set a target price of $420.0 on 05/14/2026
- David Strauss from Wells Fargo set a target price of $400.0 on 04/01/2026
- Ronald Epstein from B of A Securities set a target price of $400.0 on 02/12/2026
- Noah Poponak from Goldman Sachs set a target price of $425.0 on 01/20/2026
Full Release
POCASSET, Mass., July 06, 2026 (GLOBE NEWSWIRE) -- HII, a global leader in autonomous unmanned maritime systems, has been awarded an option year production contract for the U.S. Navy’s next-generation program of record, the Lionfish small unmanned undersea vehicle (SUUV). Lionfish is based on HII’s commercial REMUS 300 platform , originally developed as part of a rapid prototyping initiative in collaboration with the U.S. Navy and the Defense Innovation Unit (DIU).
Designed to address a broad range of undersea warfare missions, Lionfish supports mine countermeasures, intelligence, surveillance and reconnaissance (ISR), anti-submarine warfare, and electronic warfare operations.
This latest option year contract continues to build the momentum of the Lionfish program, which marked a major production milestone at the close of 2025 with the completion of the 42nd Lionfish vehicle at HII’s Pocasset facility. The five-year program could scale to as many as 200 vehicles, with a total contract value exceeding $347 million.
“The decision to exercise this option year production of the Lionfish program reflects the U.S. Navy’s confidence in the platform’s operational performance, reliability and adaptability,” said Duane Fotheringham, president of the Unmanned Systems group in HII’s Mission Technologies division. “Our team remains focused on delivering advanced autonomous systems that provide sailors and marines with critical undersea warfare capabilities in support of evolving mission requirements.”
An image accompanying this release is available at: https://www.hii.com/news/hii-is-awarded-option-year-contract-for-us-navy-lionfish-unmanned-undersea-vehicle-production/ .
Following the selection of HII’s REMUS 300 platform for Lionfish, the program has been recognized as the U.S. Navy’s first successful transition from an Other Transaction Authority (OTA) prototype effort to full-scale production, demonstrating accelerated application of dual-use commercial technologies in support of operational U.S. Department of Defense capabilities. Lionfish is also the first and only cyber-compliant unmanned underwater vehicle currently in production for the U.S. Navy.
The REMUS 300 platform is a modular, open-architecture SUUV engineered for multi-mission adaptability. Its open-architecture design enables rapid payload integration and future technology upgrades, allowing operators to adapt the system to evolving mission needs while maintaining cost efficiency over the platform lifecycle.
The REMUS family of unmanned underwater vehicles has been field-proven across global naval operations. HII has delivered more than 700 REMUS vehicles to over 30 countries, including 14 NATO members. More than 90% of REMUS systems delivered during the past 25 years remain in active service today.
About HII
HII is America’s largest shipbuilder, delivering the world’s most powerful ships and all-domain mission technologies, including unmanned systems, to U.S. and allied defense customers. HII is the largest producer of unmanned underwater vehicles for the U.S. Navy and the world.
With a more than 140-year history of advancing U.S. national security, HII builds and integrates defense capabilities extending from the core fleet to C6ISR, AI/ML, EW and synthetic training. Headquartered in Virginia, HII’s workforce is 44,000 strong. For more information, visit:
- HII on the web: https://www.HII.com/
- HII on Facebook: https://www.facebook.com/TeamHII
- HII on X: https://www.twitter.com/WeAreHII
- HII on Instagram: https://www.instagram.com/WeAreHII
-
HII on LinkedIn:
https://www.linkedin.com/company/wearehii
Contact:
Greg McCarthy
(202) 264-7126
[email protected]
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/5a5a9fec-c328-41b6-bd66-562063d1842d