Abner Herrman & Brock LLC boosted its stake in shares of General Dynamics Co. (NYSE:GD) by 117.4% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,756 shares of the aerospace company’s stock after buying an additional 2,028 shares during the quarter. Abner Herrman & Brock LLC’s holdings in General Dynamics were worth $686,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Vanguard Group Inc. boosted its position in General Dynamics by 0.8% during the second quarter. Vanguard Group Inc. now owns 21,270,773 shares of the aerospace company’s stock worth $3,867,453,000 after purchasing an additional 177,296 shares during the period. Caisse DE Depot ET Placement DU Quebec boosted its position in General Dynamics by 11.4% during the second quarter. Caisse DE Depot ET Placement DU Quebec now owns 3,748,497 shares of the aerospace company’s stock worth $681,552,000 after purchasing an additional 383,200 shares during the period. Barrow Hanley Mewhinney & Strauss LLC boosted its position in General Dynamics by 5.3% during the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,590,209 shares of the aerospace company’s stock worth $470,952,000 after purchasing an additional 130,747 shares during the period. Janus Henderson Group PLC boosted its position in General Dynamics by 2.6% during the second quarter. Janus Henderson Group PLC now owns 2,335,959 shares of the aerospace company’s stock worth $424,721,000 after purchasing an additional 58,222 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in General Dynamics by 2.3% during the second quarter. Bank of New York Mellon Corp now owns 1,875,993 shares of the aerospace company’s stock worth $341,091,000 after purchasing an additional 42,778 shares during the period. Institutional investors own 86.25% of the company’s stock.
A number of equities analysts have weighed in on GD shares. Zacks Investment Research upgraded shares of General Dynamics from a “hold” rating to a “buy” rating and set a $203.00 target price for the company in a research report on Monday, September 2nd. Morgan Stanley cut their target price on shares of General Dynamics from $173.00 to $172.00 and set an “underweight” rating for the company in a research report on Thursday. Robert W. Baird increased their target price on shares of General Dynamics from $188.00 to $218.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 10th. Finally, Cowen set a $202.00 target price on shares of General Dynamics and gave the stock a “buy” rating in a research report on Friday, August 30th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and seven have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $193.29.
General Dynamics (NYSE:GD) last released its quarterly earnings data on Wednesday, July 24th. The aerospace company reported $2.77 EPS for the quarter, beating analysts’ consensus estimates of $2.68 by $0.09. General Dynamics had a net margin of 8.65% and a return on equity of 26.81%. The company had revenue of $9.56 billion during the quarter, compared to analyst estimates of $9.36 billion. During the same period last year, the business earned $2.82 earnings per share. General Dynamics’s revenue was up 4.0% compared to the same quarter last year. As a group, equities research analysts anticipate that General Dynamics Co. will post 11.88 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 11th will be given a $1.02 dividend. The ex-dividend date of this dividend is Thursday, October 10th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 2.26%. General Dynamics’s dividend payout ratio (DPR) is currently 35.73%.
In related news, VP Mark Lagrand Burns bought 159 shares of the stock in a transaction that occurred on Friday, August 9th. The shares were acquired at an average cost of $179.56 per share, with a total value of $28,550.04. Following the completion of the purchase, the vice president now directly owns 39,643 shares of the company’s stock, valued at approximately $7,118,297.08. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Gary L. Whited sold 14,029 shares of the firm’s stock in a transaction that occurred on Tuesday, July 30th. The shares were sold at an average price of $188.38, for a total transaction of $2,642,783.02. Following the completion of the sale, the vice president now directly owns 37,542 shares in the company, valued at $7,072,161.96. The disclosure for this sale can be found here. Insiders sold 48,459 shares of company stock worth $9,079,802 over the last ninety days. 7.10% of the stock is currently owned by insiders.
About General Dynamics
General Dynamics Corporation operates as an aerospace and defense company worldwide. It operates in five segments: Aerospace, Combat Systems, Information Technology, Mission Systems, and Marine Systems. The Aerospace segment designs, manufactures, and supports business-jet aircraft; and offers business-aviation services, including maintenance, fixed-base operation, government fleet, aircraft management, charter, and staffing services, as well as integrated aviation solutions.
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