Contravisory Investment Management Inc. trimmed its position in General Dynamics Co. (NYSE:GD) by 10.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 19,906 shares of the aerospace company’s stock after selling 2,373 shares during the period. Contravisory Investment Management Inc.’s holdings in General Dynamics were worth $4,050,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in General Dynamics by 1.9% in the second 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 during the last quarter. Capital Research Global Investors boosted its holdings in General Dynamics by 4.5% in the second 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 during the last quarter. BlackRock Inc. boosted its holdings in General Dynamics by 5.3% in the second 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 during the last quarter. Janus Henderson Group PLC boosted its holdings in General Dynamics by 6.1% in the third 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 during the last quarter. Finally, Franklin Resources Inc. boosted its holdings in General Dynamics by 1.9% in the second 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 during the last quarter. 86.76% of the stock is currently owned by hedge funds and other institutional investors.
Several research firms have commented on GD. Zacks Investment Research lowered shares of General Dynamics from a “buy” rating to a “hold” rating in a report on Monday, October 16th. Citigroup reaffirmed a “neutral” rating and issued a $215.00 price target (up from $210.00) on shares of General Dynamics in a report on Monday, October 9th. ValuEngine lowered shares of General Dynamics from a “buy” rating to a “hold” rating in a report on Tuesday, October 3rd. Cowen reissued a “buy” rating and set a $230.00 target price on shares of General Dynamics in a research note on Thursday, October 19th. Finally, Jefferies Group reissued a “buy” rating and set a $236.00 target price on shares of General Dynamics in a research note on Thursday, October 26th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and nine have given a buy rating to the stock. General Dynamics presently has an average rating of “Hold” and a consensus price target of $218.92.
In related news, VP Gregory S. Gallopoulos sold 78,370 shares of the firm’s stock in a transaction dated Monday, November 6th. The shares were sold at an average price of $202.93, for a total value of $15,903,624.10. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider John Patrick Casey sold 34,945 shares of the firm’s stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $201.38, for a total transaction of $7,037,224.10. Following the completion of the transaction, the insider now directly owns 144,378 shares in the company, valued at $29,074,841.64. The disclosure for this sale can be found here. Company insiders own 6.70% of the company’s stock.
General Dynamics Co. (NYSE GD) traded down $0.72 during mid-day trading on Thursday, hitting $207.80. 1,241,899 shares of the stock traded hands, compared to its average volume of 1,290,000. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.93 and a current ratio of 1.37. General Dynamics Co. has a twelve month low of $172.43 and a twelve month high of $214.81. The stock has a market cap of $62,050.00, a price-to-earnings ratio of 20.64, a P/E/G ratio of 2.23 and a beta of 0.72.
General Dynamics (NYSE:GD) last posted its earnings results on Wednesday, October 25th. The aerospace company reported $2.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.43 by $0.09. General Dynamics had a net margin of 9.94% and a return on equity of 27.98%. The business had revenue of $7.58 billion for the quarter, compared to analyst estimates of $7.94 billion. During the same period in the prior year, the company posted $2.36 EPS. The company’s revenue for the quarter was down 1.0% on a year-over-year basis. research analysts expect that General Dynamics Co. will post 9.8 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, February 9th. Investors of record on Friday, January 19th will be paid a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a yield of 1.62%. The ex-dividend date of this dividend is Thursday, January 18th. General Dynamics’s dividend payout ratio is presently 33.37%.
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About General Dynamics
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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