Empire Life Investments Inc. increased its holdings in shares of General Dynamics Corporation (NYSE:GD) by 10.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 104,247 shares of the aerospace company’s stock after buying an additional 9,922 shares during the quarter. General Dynamics comprises approximately 1.7% of Empire Life Investments Inc.’s portfolio, making the stock its 22nd biggest holding. Empire Life Investments Inc.’s holdings in General Dynamics were worth $21,431,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in GD. Boston Advisors LLC increased its stake in General Dynamics by 13.4% during the second quarter. Boston Advisors LLC now owns 6,760 shares of the aerospace company’s stock worth $1,339,000 after acquiring an additional 800 shares during the last quarter. Global X Management Co. LLC increased its stake in General Dynamics by 17.4% during the second quarter. Global X Management Co. LLC now owns 891 shares of the aerospace company’s stock worth $177,000 after acquiring an additional 132 shares during the last quarter. LMR Partners LLP acquired a new stake in General Dynamics during the second quarter worth about $4,077,000. Morningstar Investment Services LLC increased its stake in General Dynamics by 24.1% during the second quarter. Morningstar Investment Services LLC now owns 180,680 shares of the aerospace company’s stock worth $35,793,000 after acquiring an additional 35,034 shares during the last quarter. Finally, Jones Collombin Investment Counsel Inc acquired a new stake in General Dynamics during the second quarter worth about $3,337,000. Hedge funds and other institutional investors own 86.87% of the company’s stock.
Shares of General Dynamics Corporation (GD) traded down $0.04 on Friday, reaching $200.17. The company had a trading volume of 1,236,000 shares, compared to its average volume of 1,149,884. The stock has a market capitalization of $59,779.29, a P/E ratio of 19.88, a P/E/G ratio of 2.40 and a beta of 0.72. General Dynamics Corporation has a 1 year low of $168.00 and a 1 year high of $214.81. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.37 and a quick ratio of 0.93.
General Dynamics (NYSE:GD) last issued its quarterly earnings results on Wednesday, October 25th. The aerospace company reported $2.52 EPS for the quarter, beating analysts’ consensus estimates of $2.43 by $0.09. The firm had revenue of $7.58 billion during the quarter, compared to the consensus estimate of $7.94 billion. General Dynamics had a return on equity of 27.98% and a net margin of 9.94%. General Dynamics’s revenue for the quarter was down 1.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.36 earnings per share. sell-side analysts anticipate that General Dynamics Corporation will post 9.81 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, February 9th. Investors of record on Friday, January 19th will be issued a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a yield of 1.68%. The ex-dividend date is Thursday, January 18th. General Dynamics’s dividend payout ratio is currently 33.50%.
In other General Dynamics news, VP Gregory S. Gallopoulos sold 78,370 shares of the stock in a transaction that occurred on Monday, November 6th. The stock was sold at an average price of $202.93, for a total transaction of $15,903,624.10. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider John Patrick Casey sold 34,945 shares of the stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $201.38, for a total value of $7,037,224.10. Following the transaction, the insider now directly owns 144,378 shares in the company, valued at approximately $29,074,841.64. The disclosure for this sale can be found here. Company insiders own 6.70% of the company’s stock.
A number of equities research analysts have recently issued reports on GD shares. Stifel Nicolaus increased their target price on General Dynamics from $200.00 to $210.00 and gave the company a “hold” rating in a research note on Thursday, October 26th. Deutsche Bank reiterated a “hold” rating and issued a $210.00 target price (up previously from $200.00) on shares of General Dynamics in a research note on Monday, October 2nd. ValuEngine upgraded General Dynamics from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Royal Bank Of Canada set a $239.00 target price on General Dynamics and gave the company a “buy” rating in a research note on Wednesday, November 15th. Finally, Cowen reiterated a “buy” rating and issued a $230.00 target price on shares of General Dynamics in a research note on Thursday, October 19th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and nine have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $218.45.
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General Dynamics Company Profile
General Dynamics Corporation is a global aerospace and defense company. The Company offers a portfolio of products and services in business aviation; combat vehicles, weapons systems and munitions; information technology (IT) services and C4ISR (command, control, communications, computers, intelligence, surveillance and reconnaissance) solutions, and shipbuilding and ship repair.
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