Louisiana State Employees Retirement System lowered its stake in shares of General Dynamics Co. (NYSE:GD) by 3.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 16,800 shares of the aerospace company’s stock after selling 600 shares during the period. Louisiana State Employees Retirement System’s holdings in General Dynamics were worth $3,418,000 at the end of the most recent quarter.
Other hedge funds also recently modified their holdings of the company. Quadrant Capital Group LLC increased its stake in shares of General Dynamics by 6.1% during the 2nd quarter. Quadrant Capital Group LLC now owns 645 shares of the aerospace company’s stock worth $110,000 after purchasing an additional 37 shares during the last quarter. Vantage Investment Advisors LLC increased its stake in shares of General Dynamics by 9.3% during the 2nd quarter. Vantage Investment Advisors LLC now owns 585 shares of the aerospace company’s stock worth $116,000 after purchasing an additional 50 shares during the last quarter. Captrust Financial Advisors purchased a new stake in shares of General Dynamics during the 2nd quarter worth approximately $129,000. WFG Advisors LP increased its stake in shares of General Dynamics by 0.3% during the 2nd quarter. WFG Advisors LP now owns 668 shares of the aerospace company’s stock worth $132,000 after purchasing an additional 2 shares during the last quarter. Finally, Fieldpoint Private Securities LLC purchased a new position in General Dynamics in the 3rd quarter valued at approximately $148,000. Institutional investors own 86.76% of the company’s stock.
General Dynamics Co. (GD) traded up $5.08 during midday trading on Tuesday, hitting $210.59. 1,892,600 shares of the stock were exchanged, compared to its average volume of 1,434,133. General Dynamics Co. has a 52 week low of $172.43 and a 52 week 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. The company has a market cap of $63,050.00, a P/E ratio of 20.91, a P/E/G ratio of 2.27 and a beta of 0.72.
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. General Dynamics had a net margin of 9.94% and a return on equity of 27.98%. The company had revenue of $7.58 billion during the quarter, compared to the consensus estimate of $7.94 billion. During the same period in the previous year, the firm posted $2.36 EPS. The firm’s revenue was down 1.0% compared to the same quarter last year. sell-side analysts predict that General Dynamics Co. will post 9.8 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 9th. Stockholders of record on Friday, January 19th will be issued a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a dividend yield of 1.60%. The ex-dividend date of this dividend is Thursday, January 18th. General Dynamics’s dividend payout ratio is currently 33.37%.
GD has been the subject of a number of recent research reports. Stifel Nicolaus lifted their price objective on shares of 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 reissued a “hold” rating and issued a $210.00 price target (up from $200.00) on shares of General Dynamics in a report on Monday, October 2nd. Royal Bank of Canada set a $239.00 price target on shares of General Dynamics and gave the company a “buy” rating in a report on Wednesday, November 15th. ValuEngine downgraded shares of General Dynamics from a “buy” rating to a “hold” rating in a report on Tuesday, October 3rd. Finally, Cowen reissued a “buy” rating and issued a $230.00 price target on shares of General Dynamics in a report on Thursday, October 19th. Three research analysts have rated the stock with a sell rating, five have given a hold rating and nine have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $218.92.
In other General Dynamics news, VP Gregory S. Gallopoulos sold 78,370 shares of the business’s stock in a transaction on Monday, November 6th. The shares were sold at an average price of $202.93, for a total value of $15,903,624.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider John Patrick Casey sold 34,945 shares of the business’s stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $201.38, for a total transaction of $7,037,224.10. Following the completion of the sale, the insider now directly owns 144,378 shares of the company’s stock, valued at $29,074,841.64. The disclosure for this sale can be found here. 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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