Tuttle Tactical Management LLC reduced its holdings in General Dynamics Co. (NYSE:GD) by 42.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,572 shares of the aerospace company’s stock after selling 1,175 shares during the period. Tuttle Tactical Management LLC’s holdings in General Dynamics were worth $319,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also modified their holdings of GD. Caisse DE Depot ET Placement DU Quebec increased its position in shares of General Dynamics by 2,097.3% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,711,597 shares of the aerospace company’s stock valued at $353,351,000 after purchasing an additional 1,633,700 shares during the period. American Century Companies Inc. increased its position in shares of General Dynamics by 9,395.8% during the fourth quarter. American Century Companies Inc. now owns 452,570 shares of the aerospace company’s stock valued at $92,075,000 after purchasing an additional 447,804 shares during the period. Renaissance Technologies LLC increased its position in shares of General Dynamics by 119.3% during the fourth quarter. Renaissance Technologies LLC now owns 703,800 shares of the aerospace company’s stock valued at $143,188,000 after purchasing an additional 382,883 shares during the period. Alyeska Investment Group L.P. increased its position in shares of General Dynamics by 82.6% during the third quarter. Alyeska Investment Group L.P. now owns 697,511 shares of the aerospace company’s stock valued at $143,394,000 after purchasing an additional 315,512 shares during the period. Finally, Janus Henderson Group PLC increased its position in shares of General Dynamics by 6.1% during 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 period. 86.06% of the stock is currently owned by institutional investors.
A number of analysts have recently issued reports on GD shares. Jefferies Group restated a “buy” rating and set a $237.00 price objective on shares of General Dynamics in a research report on Monday, January 8th. Bank of America boosted their price target on General Dynamics from $245.00 to $260.00 and gave the company a “buy” rating in a research note on Thursday, January 25th. Royal Bank of Canada set a $246.00 price target on General Dynamics and gave the company a “buy” rating in a research note on Tuesday, January 23rd. Zacks Investment Research raised General Dynamics from a “hold” rating to a “buy” rating and set a $234.00 price target on the stock in a research note on Friday, January 19th. Finally, Buckingham Research reaffirmed a “buy” rating and issued a $260.00 price target (up previously from $230.00) on shares of General Dynamics in a research note on Tuesday, January 30th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and thirteen have given a buy rating to the company. General Dynamics currently has an average rating of “Hold” and a consensus price target of $235.88.
In other news, VP Gary L. Whited sold 5,977 shares of the business’s stock in a transaction on Tuesday, March 6th. The stock was sold at an average price of $224.52, for a total transaction of $1,341,956.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP John Patrick Casey sold 4,133 shares of the business’s stock in a transaction on Thursday, March 8th. The stock was sold at an average price of $225.27, for a total value of $931,040.91. Following the sale, the executive vice president now owns 96,055 shares of the company’s stock, valued at approximately $21,638,309.85. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 30,357 shares of company stock valued at $6,715,463. 6.70% of the stock is currently owned by corporate insiders.
General Dynamics Co. (GD) opened at $218.37 on Friday. The company has a market capitalization of $66,438.89, a price-to-earnings ratio of 22.87, a price-to-earnings-growth ratio of 2.37 and a beta of 0.83. General Dynamics Co. has a one year low of $183.72 and a one year high of $230.00. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.40 and a quick ratio of 0.99.
General Dynamics (NYSE:GD) last released its earnings results on Wednesday, January 24th. The aerospace company reported $2.50 earnings per share for the quarter, topping analysts’ consensus estimates of $2.37 by $0.13. The company had revenue of $8.28 billion during the quarter, compared to the consensus estimate of $8.40 billion. General Dynamics had a return on equity of 27.22% and a net margin of 9.40%. The firm’s quarterly revenue was up 8.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.89 earnings per share. sell-side analysts expect that General Dynamics Co. will post 11.09 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, May 11th. Stockholders of record on Friday, April 13th will be given a dividend of $0.93 per share. The ex-dividend date of this dividend is Thursday, April 12th. This represents a $3.72 dividend on an annualized basis and a dividend yield of 1.70%. This is an increase from General Dynamics’s previous quarterly dividend of $0.84. General Dynamics’s payout ratio is presently 35.18%.
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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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