Hoylecohen LLC bought a new position in General Dynamics Co. (NYSE:GD) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 3,131 shares of the aerospace company’s stock, valued at approximately $637,000.
Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Ontario Teachers Pension Plan Board increased its position in General Dynamics by 3.1% during the 4th quarter. Ontario Teachers Pension Plan Board now owns 51,028 shares of the aerospace company’s stock valued at $10,382,000 after purchasing an additional 1,536 shares during the period. ETRADE Capital Management LLC boosted its holdings in shares of General Dynamics by 38.0% during the 3rd quarter. ETRADE Capital Management LLC now owns 2,337 shares of the aerospace company’s stock valued at $481,000 after buying an additional 643 shares in the last quarter. IFG Advisory LLC bought a new stake in shares of General Dynamics during the 4th quarter valued at $543,000. Amalgamated Bank boosted its holdings in shares of General Dynamics by 1.8% during the 3rd quarter. Amalgamated Bank now owns 30,733 shares of the aerospace company’s stock valued at $6,318,000 after buying an additional 549 shares in the last quarter. Finally, Country Club Trust Company n.a. bought a new stake in shares of General Dynamics during the 4th quarter valued at $448,000. 86.09% of the stock is currently owned by institutional investors.
A number of analysts have recently commented on GD shares. ValuEngine upgraded shares of General Dynamics from a “hold” rating to a “buy” rating in a report on Thursday, March 1st. Zacks Investment Research upgraded shares of General Dynamics from a “hold” rating to a “buy” rating and set a $234.00 target price on the stock in a report on Friday, January 19th. Jefferies Group restated a “buy” rating and set a $237.00 target price on shares of General Dynamics in a report on Monday, January 8th. Royal Bank of Canada boosted their target price on shares of General Dynamics to $267.00 and gave the company an “outperform” rating in a report on Tuesday, February 20th. Finally, Stifel Nicolaus reiterated a “hold” rating and issued a $220.00 price target on shares of General Dynamics in a research note on Tuesday, January 9th. 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 stock. The company currently has an average rating of “Hold” and a consensus price target of $239.46.
In related news, insider John Patrick Casey sold 9,304 shares of the stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $215.29, for a total value of $2,003,058.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider S. Daniel Johnson sold 3,933 shares of the stock in a transaction that occurred on Friday, March 9th. The stock was sold at an average price of $228.79, for a total transaction of $899,831.07. Following the completion of the sale, the insider now directly owns 66,363 shares of the company’s stock, valued at $15,183,190.77. The disclosure for this sale can be found here. Insiders have sold a total of 30,357 shares of company stock valued at $6,715,463 in the last ninety days. Insiders own 6.70% of the company’s stock.
NYSE:GD traded down $5.48 during mid-day trading on Friday, reaching $215.74. The company’s stock had a trading volume of 1,496,133 shares, compared to its average volume of 1,328,967. General Dynamics Co. has a 12-month low of $185.64 and a 12-month high of $230.00. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.99 and a current ratio of 1.40. The firm has a market cap of $65,687.65, a price-to-earnings ratio of 21.68, a price-to-earnings-growth ratio of 2.33 and a beta of 0.83.
General Dynamics (NYSE:GD) last issued its 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 during the quarter, compared to analyst estimates of $8.40 billion. During the same quarter in the previous year, the firm earned $1.89 EPS. General Dynamics’s revenue was up 8.1% on a year-over-year basis. research analysts predict that General Dynamics Co. will post 11.14 earnings per share for the current year.
The firm also recently declared 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 is Thursday, April 12th. This represents a $3.72 annualized dividend and a dividend yield of 1.72%. This is a positive change from General Dynamics’s previous quarterly dividend of $0.84. General Dynamics’s dividend payout ratio 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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