Cambria Investment Management L.P. increased its holdings in General Dynamics Corporation (NYSE:GD) by 103.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,267 shares of the aerospace company’s stock after acquiring an additional 15,424 shares during the quarter. General Dynamics comprises about 1.0% of Cambria Investment Management L.P.’s investment portfolio, making the stock its 21st biggest holding. Cambria Investment Management L.P.’s holdings in General Dynamics were worth $6,222,000 at the end of the most recent quarter.
Several other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. increased its stake in General Dynamics by 1.9% during the 2nd quarter. Vanguard Group Inc. now owns 20,176,505 shares of the aerospace company’s stock valued at $3,996,966,000 after purchasing an additional 376,688 shares in the last quarter. Capital Research Global Investors increased its stake in General Dynamics by 4.5% during the 2nd quarter. Capital Research Global Investors now owns 16,792,408 shares of the aerospace company’s stock valued at $3,326,576,000 after purchasing an additional 725,896 shares in the last quarter. BlackRock Inc. increased its stake in General Dynamics by 5.3% during the 2nd quarter. BlackRock Inc. now owns 16,338,831 shares of the aerospace company’s stock valued at $3,236,720,000 after purchasing an additional 829,487 shares in the last quarter. Janus Henderson Group PLC increased its stake in General Dynamics by 6.1% during the 3rd quarter. Janus Henderson Group PLC now owns 5,302,868 shares of the aerospace company’s stock valued at $1,090,164,000 after purchasing an additional 304,175 shares in the last quarter. Finally, Franklin Resources Inc. increased its stake in General Dynamics by 1.9% during the 2nd quarter. Franklin Resources Inc. now owns 3,786,244 shares of the aerospace company’s stock valued at $750,055,000 after purchasing an additional 71,287 shares in the last quarter. Institutional investors own 86.87% of the company’s stock.
Shares of General Dynamics Corporation (NYSE:GD) opened at $201.07 on Monday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.93 and a current ratio of 1.37. The stock has a market cap of $60,036.07, a PE ratio of 19.97, a PEG ratio of 2.41 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.
General Dynamics (NYSE:GD) last posted its quarterly earnings data on Wednesday, October 25th. The aerospace company reported $2.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.43 by $0.09. The company had revenue of $7.58 billion for the quarter, compared to the consensus estimate of $7.94 billion. General Dynamics had a net margin of 9.94% and a return on equity of 27.98%. The firm’s revenue was down 1.0% compared to the same quarter last year. During the same quarter last year, the firm posted $2.36 earnings per share. sell-side analysts forecast that General Dynamics Corporation will post 9.81 earnings per share for the current year.
The firm also recently disclosed 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 dividend yield of 1.67%. The ex-dividend date of this dividend is Thursday, January 18th. General Dynamics’s payout ratio is 33.50%.
A number of analysts have weighed in on GD shares. ValuEngine upgraded shares of General Dynamics from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Zacks Investment Research raised shares of General Dynamics from a “hold” rating to a “buy” rating and set a $230.00 price target on the stock in a report on Monday, October 2nd. Deutsche Bank reaffirmed a “hold” rating and set a $210.00 price target (up previously from $200.00) on shares of General Dynamics in a report on Monday, October 2nd. Citigroup reaffirmed a “neutral” rating and set a $215.00 price target (up previously from $210.00) on shares of General Dynamics in a report on Monday, October 9th. Finally, Cowen reaffirmed a “buy” rating and set a $230.00 price target on shares of General Dynamics in a report on Thursday, October 19th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and nine have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $218.45.
In related news, insider John Patrick Casey sold 34,945 shares of the firm’s stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $201.38, for a total value of $7,037,224.10. Following the transaction, the insider now owns 144,378 shares of the company’s stock, valued at $29,074,841.64. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Gregory S. Gallopoulos sold 78,370 shares of the firm’s 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 disclosure for this sale can be found here. Company insiders own 6.70% of the company’s stock.
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General Dynamics 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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