Laurel Wealth Advisors Inc. grew its position in General Dynamics Co. (NYSE:GD) by 217.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,183 shares of the aerospace company’s stock after purchasing an additional 2,181 shares during the quarter. Laurel Wealth Advisors Inc.’s holdings in General Dynamics were worth $647,000 as of its most recent SEC filing.
Several other large investors have also recently added to or reduced their stakes in the company. Belpointe Asset Management LLC boosted its stake in General Dynamics by 11.6% during the fourth quarter. Belpointe Asset Management LLC now owns 3,180 shares of the aerospace company’s stock worth $647,000 after buying an additional 330 shares in the last quarter. Hoylecohen LLC acquired a new stake in shares of General Dynamics in the 4th quarter valued at $637,000. Verition Fund Management LLC acquired a new stake in shares of General Dynamics in the 4th quarter valued at $666,000. Biltmore Family Office LLC acquired a new stake in shares of General Dynamics in the 4th quarter valued at $244,000. Finally, LPL Financial LLC boosted its stake in shares of General Dynamics by 8.2% in the 4th quarter. LPL Financial LLC now owns 74,092 shares of the aerospace company’s stock valued at $15,074,000 after purchasing an additional 5,631 shares in the last quarter. 86.09% of the stock is currently owned by institutional investors.
A number of research analysts recently issued reports on the company. JPMorgan Chase assumed coverage on General Dynamics in a report on Wednesday. They issued an “underweight” rating for the company. Royal Bank of Canada reaffirmed a “buy” rating and issued a $263.00 price target on shares of General Dynamics in a report on Friday. Barclays initiated coverage on General Dynamics in a report on Thursday, March 29th. They set an “overweight” rating and a $282.00 price objective for the company. Citigroup boosted their price objective on General Dynamics from $215.00 to $235.00 and gave the stock a “neutral” rating in a report on Thursday, January 25th. Finally, ValuEngine raised General Dynamics from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st. Three analysts have rated the stock with a sell rating, five have given a hold rating and thirteen have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $239.46.
In other news, VP Gary L. Whited sold 5,977 shares of the 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 document filed with the SEC, which is available through the SEC website. Also, Director John M. Keane sold 1,800 shares of the stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $216.43, for a total value of $389,574.00. The disclosure for this sale can be found here. Insiders have sold a total of 30,357 shares of company stock worth $6,715,463 in the last quarter. Company insiders own 6.70% of the company’s stock.
Shares of NYSE GD traded down $5.48 during trading hours on Friday, hitting $215.74. The company had a trading volume of 1,496,133 shares, compared to its average volume of 1,328,967. General Dynamics Co. has a 1-year low of $185.64 and a 1-year high of $230.00. 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 company has a market cap of $65,687.65, a PE ratio of 21.68, a PEG ratio of 2.33 and a beta of 0.83.
General Dynamics (NYSE:GD) last posted its quarterly earnings results on Wednesday, January 24th. The aerospace company reported $2.50 earnings per share for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $8.40 billion. During the same quarter in the prior year, the business earned $1.89 EPS. The firm’s revenue for the quarter was up 8.1% on a year-over-year basis. sell-side analysts predict that General Dynamics Co. will post 11.14 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 11th. Shareholders of record on Friday, April 13th will be given a dividend of $0.93 per share. This is a boost from General Dynamics’s previous quarterly dividend of $0.84. The ex-dividend date is Thursday, April 12th. This represents a $3.72 annualized dividend and a yield of 1.72%. General Dynamics’s dividend payout ratio (DPR) is presently 33.77%.
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General Dynamics Company 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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