Sumitomo Mitsui Asset Management Company LTD trimmed its holdings in shares of General Dynamics Co. (NYSE:GD) by 8.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 18,357 shares of the aerospace company’s stock after selling 1,587 shares during the quarter. Sumitomo Mitsui Asset Management Company LTD’s holdings in General Dynamics were worth $3,734,000 at the end of the most recent reporting period.
Other large investors have also added to or reduced their stakes in the company. ETRADE Capital Management LLC raised its holdings in shares of General Dynamics by 38.0% in the third quarter. ETRADE Capital Management LLC now owns 2,337 shares of the aerospace company’s stock valued at $481,000 after acquiring an additional 643 shares in the last quarter. Brightworth purchased a new position in General Dynamics in the third quarter valued at about $5,882,000. Park National Corp OH grew its stake in General Dynamics by 7.6% in the third quarter. Park National Corp OH now owns 45,986 shares of the aerospace company’s stock valued at $9,454,000 after purchasing an additional 3,234 shares during the last quarter. Amalgamated Bank grew its stake in General Dynamics by 1.8% in the third quarter. Amalgamated Bank now owns 30,733 shares of the aerospace company’s stock valued at $6,318,000 after purchasing an additional 549 shares during the last quarter. Finally, Alpha Cubed Investments LLC purchased a new position in General Dynamics in the third quarter valued at about $278,000. Institutional investors and hedge funds own 87.03% of the company’s stock.
Several research firms have issued reports on GD. Sanford C. Bernstein reiterated a “market perform” rating and issued a $237.00 target price (up previously from $218.00) on shares of General Dynamics in a research note on Thursday, January 25th. Bank of America lifted their target price on General Dynamics from $245.00 to $260.00 and gave the company a “buy” rating in a research note on Thursday, January 25th. Buckingham Research reiterated a “buy” rating and issued a $260.00 target price (up previously from $230.00) on shares of General Dynamics in a research note on Tuesday, January 30th. Zacks Investment Research upgraded General Dynamics from a “hold” rating to a “buy” rating and set a $252.00 target price on the stock in a research note on Friday, February 2nd. Finally, Argus upgraded General Dynamics to a “buy” rating and lifted their target price for the company from $230.00 to $250.00 in a research note on Tuesday, January 30th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and thirteen have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $231.94.
Shares of General Dynamics Co. (NYSE GD) opened at $209.53 on Tuesday. General Dynamics Co. has a 52 week low of $183.72 and a 52 week high of $229.54. The firm has a market capitalization of $62,971.57, a PE ratio of 21.32, a PEG ratio of 2.25 and a beta of 0.85. The company has a current ratio of 1.40, a quick ratio of 0.99 and a debt-to-equity ratio of 0.35.
General Dynamics (NYSE:GD) last issued its quarterly earnings results on Wednesday, January 24th. The aerospace company reported $2.50 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.37 by $0.13. General Dynamics had a return on equity of 27.22% and a net margin of 9.40%. The business had revenue of $8.28 billion for the quarter, compared to analyst estimates of $8.40 billion. During the same quarter in the previous year, the firm earned $1.89 earnings per share. The company’s revenue was up 8.1% on a year-over-year basis. research analysts forecast that General Dynamics Co. will post 11.1 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, February 9th. Investors of record on Friday, January 19th were given a $0.84 dividend. The ex-dividend date was Thursday, January 18th. This represents a $3.36 dividend on an annualized basis and a yield of 1.60%. General Dynamics’s dividend payout ratio is currently 35.18%.
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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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