Resources Management Corp CT ADV acquired a new position in General Dynamics Co. (NYSE:GD) during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 9,279 shares of the aerospace company’s stock, valued at approximately $1,696,000.
Several other hedge funds also recently bought and sold shares of GD. Vanguard Group Inc. grew 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 valued at $3,867,453,000 after acquiring an additional 177,296 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec grew its holdings in shares of General Dynamics by 11.4% during the 2nd quarter. Caisse DE Depot ET Placement DU Quebec now owns 3,748,497 shares of the aerospace company’s stock valued at $681,552,000 after purchasing an additional 383,200 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC grew its holdings in shares of General Dynamics by 5.3% during the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,590,209 shares of the aerospace company’s stock valued at $470,952,000 after purchasing an additional 130,747 shares during the last quarter. Janus Henderson Group PLC raised its position in General Dynamics by 2.6% in the 2nd 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 raised its position in General Dynamics by 2.3% in the 2nd 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 86.12% of the company’s stock.
Several analysts have issued reports on the stock. Zacks Investment Research upgraded shares of General Dynamics from a “hold” rating to a “buy” rating and set a $203.00 price target for the company in a research report on Monday, September 2nd. Morgan Stanley decreased their price objective on General Dynamics from $173.00 to $172.00 and set an “underweight” rating on the stock in a report on Thursday, October 10th. Barclays set a $215.00 target price on General Dynamics and gave the company a “buy” rating in a research note on Tuesday, October 8th. Finally, Cowen set a $202.00 target price on General Dynamics and gave the company a “buy” rating in a research note on Friday, August 30th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $192.06.
Shares of GD stock traded up $1.04 during mid-day trading on Wednesday, reaching $178.08. The stock had a trading volume of 1,395,565 shares, compared to its average volume of 1,279,390. The stock’s 50-day moving average price is $180.43 and its two-hundred day moving average price is $180.40. General Dynamics Co. has a 52-week low of $143.87 and a 52-week high of $193.76. The firm has a market capitalization of $52.58 billion, a PE ratio of 15.59, a price-to-earnings-growth ratio of 1.77 and a beta of 1.16. The company has a current ratio of 1.11, a quick ratio of 0.74 and a debt-to-equity ratio of 0.67.
General Dynamics (NYSE:GD) last posted its earnings results on Wednesday, October 23rd. The aerospace company reported $3.14 earnings per share for the quarter, topping the Zacks’ consensus estimate of $3.06 by $0.08. The company had revenue of $9.76 billion during the quarter, compared to analyst estimates of $9.75 billion. General Dynamics had a net margin of 8.66% and a return on equity of 26.79%. General Dynamics’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same period in the prior year, the business posted $2.89 earnings per share. On average, equities research analysts forecast that General Dynamics Co. will post 11.91 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Investors of record on Friday, January 17th will be issued a dividend of $1.02 per share. This represents a $4.08 dividend on an annualized basis and a yield of 2.29%. General Dynamics’s dividend payout ratio is presently 35.73%.
General Dynamics Company Profile
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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