Teachers Advisors LLC decreased its holdings in General Dynamics Co. (NYSE:GD) by 38.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 421,726 shares of the aerospace company’s stock after selling 266,118 shares during the quarter. Teachers Advisors LLC owned approximately 0.14% of General Dynamics worth $85,800,000 at the end of the most recent reporting period.
Several other institutional investors have also modified their holdings of GD. Ontario Teachers Pension Plan Board raised its holdings in shares of General Dynamics by 3.1% during the fourth 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 increased its position in shares of 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 in the last quarter. IFG Advisory LLC bought a new stake in shares of General Dynamics during the fourth quarter worth about $543,000. Amalgamated Bank grew its position in General Dynamics by 1.8% in the 3rd quarter. Amalgamated Bank now owns 30,733 shares of the aerospace company’s stock worth $6,318,000 after purchasing an additional 549 shares in the last quarter. Finally, Country Club Trust Company n.a. bought a new stake in General Dynamics in the 4th quarter worth about $448,000. 86.09% of the stock is currently owned by institutional investors.
Shares of General Dynamics stock opened at $215.74 on Friday. The company has a market capitalization of $64,891.87, a P/E ratio of 21.68, a P/E/G ratio of 2.31 and a beta of 0.83. General Dynamics Co. has a 52 week low of $185.64 and a 52 week high of $230.00. The company has a quick ratio of 0.99, a current ratio of 1.40 and a debt-to-equity ratio of 0.35.
General Dynamics (NYSE:GD) last released its quarterly earnings results on Wednesday, January 24th. The aerospace company reported $2.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.37 by $0.13. General Dynamics had a net margin of 9.40% and a return on equity of 27.22%. The firm had revenue of $8.28 billion for the quarter, compared to analysts’ expectations of $8.40 billion. During the same quarter last year, the company earned $1.89 EPS. The firm’s revenue for the quarter was up 8.1% compared to the same quarter last year. analysts expect that General Dynamics Co. will post 11.11 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 11th. Investors of record on Friday, April 13th will be issued a $0.93 dividend. This is a positive change from General Dynamics’s previous quarterly dividend of $0.84. This represents a $3.72 annualized dividend and a yield of 1.72%. The ex-dividend date of this dividend is Thursday, April 12th. General Dynamics’s payout ratio is 33.77%.
A number of research firms have recently weighed in on GD. Royal Bank of Canada reissued a “buy” rating and set a $263.00 target price on shares of General Dynamics in a research report on Friday. Bank of America increased their target price on shares of General Dynamics from $245.00 to $260.00 and gave the stock a “buy” rating in a research note on Thursday, January 25th. Argus upgraded shares of General Dynamics to a “buy” rating and raised their price objective for the company from $230.00 to $250.00 in a research report on Tuesday, January 30th. Zacks Investment Research raised shares of General Dynamics from a “hold” rating to a “buy” rating and set a $252.00 target price on the stock in a report on Friday, February 2nd. Finally, Citigroup raised their price target on shares of General Dynamics from $215.00 to $235.00 and gave the stock a “neutral” rating in a report on Thursday, January 25th. 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 stock. The stock presently has a consensus rating of “Hold” and an average target price of $239.46.
In related news, Director John M. Keane sold 1,800 shares of the company’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $216.43, for a total value of $389,574.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John Patrick Casey sold 9,304 shares of the company’s 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 disclosure for this sale can be found here. Over the last 90 days, insiders sold 30,357 shares of company stock worth $6,715,463. 6.70% of the stock is owned by insiders.
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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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