Employees Retirement System of Texas trimmed its holdings in shares of General Dynamics Co. (NYSE:GD) by 15.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 73,300 shares of the aerospace company’s stock after selling 13,700 shares during the period. Employees Retirement System of Texas’ holdings in General Dynamics were worth $14,913,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of GD. ETRADE Capital Management LLC boosted its position in General Dynamics by 38.0% during the third quarter. ETRADE Capital Management LLC now owns 2,337 shares of the aerospace company’s stock worth $481,000 after acquiring an additional 643 shares during the last quarter. Brightworth acquired a new stake in General Dynamics during the third quarter worth approximately $5,882,000. Amalgamated Bank boosted its position in General Dynamics by 1.8% during the third quarter. Amalgamated Bank now owns 30,733 shares of the aerospace company’s stock worth $6,318,000 after acquiring an additional 549 shares during the last quarter. IFG Advisory LLC acquired a new stake in General Dynamics during the fourth quarter worth approximately $543,000. Finally, Alpha Cubed Investments LLC acquired a new stake in General Dynamics during the third quarter worth approximately $278,000. 86.88% of the stock is owned by institutional investors and hedge funds.
General Dynamics Co. (GD) opened at $224.19 on Tuesday. The company has a current ratio of 1.40, a quick ratio of 0.99 and a debt-to-equity ratio of 0.35. The firm has a market cap of $66,569.55, a price-to-earnings ratio of 22.53, a P/E/G ratio of 2.37 and a beta of 0.85. General Dynamics Co. has a 1-year low of $183.72 and a 1-year high of $229.54.
General Dynamics (NYSE:GD) last posted its earnings results on Wednesday, January 24th. The aerospace company reported $2.50 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.37 by $0.13. The business had revenue of $8.28 billion for the quarter, compared to analyst estimates of $8.40 billion. General Dynamics had a net margin of 9.40% and a return on equity of 27.22%. The business’s quarterly revenue was up 8.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.89 EPS. research analysts forecast that General Dynamics Co. will post 11.1 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, February 9th. Investors of record on Friday, January 19th were issued a dividend of $0.84 per share. The ex-dividend date of this dividend was Thursday, January 18th. This represents a $3.36 annualized dividend and a dividend yield of 1.50%. General Dynamics’s payout ratio is 35.18%.
A number of analysts recently issued reports on GD shares. Royal Bank of Canada set a $239.00 target price on shares of General Dynamics and gave the stock a “buy” rating in a research report on Wednesday, November 15th. ValuEngine lowered shares of General Dynamics from a “buy” rating to a “hold” rating in a research report on Thursday, November 30th. Stifel Nicolaus raised their target price on shares of General Dynamics from $200.00 to $210.00 and gave the stock a “hold” rating in a research report on Thursday, October 26th. Zacks Investment Research lowered shares of General Dynamics from a “hold” rating to a “sell” rating in a report on Tuesday, December 26th. Finally, Jefferies Group lifted their price target on shares of General Dynamics to $247.00 and gave the company a “buy” rating in a report on Thursday, January 25th. They noted that the move was a valuation call. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and thirteen have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $232.09.
In related news, insider John Patrick Casey sold 9,304 shares of General Dynamics stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $215.29, for a total transaction of $2,003,058.16. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director John M. Keane sold 1,800 shares of General Dynamics stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $216.43, for a total transaction of $389,574.00. 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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