Guardian Life Insurance Co. of America reduced its stake in shares of General Dynamics (NYSE:GD) by 29.1% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 639 shares of the aerospace company’s stock after selling 262 shares during the quarter. Guardian Life Insurance Co. of America’s holdings in General Dynamics were worth $141,000 at the end of the most recent quarter.
Other institutional investors also recently bought and sold shares of the company. Highlander Capital Management LLC grew its position in shares of General Dynamics by 101.4% during the 4th quarter. Highlander Capital Management LLC now owns 596 shares of the aerospace company’s stock worth $121,000 after buying an additional 300 shares during the period. Optimum Investment Advisors acquired a new position in shares of General Dynamics during the 1st quarter worth about $134,000. Resources Investment Advisors Inc. grew its position in shares of General Dynamics by 92.3% during the 4th quarter. Resources Investment Advisors Inc. now owns 625 shares of the aerospace company’s stock worth $127,000 after buying an additional 300 shares during the period. We Are One Seven LLC acquired a new position in shares of General Dynamics during the 4th quarter worth about $128,000. Finally, NuWave Investment Management LLC acquired a new position in shares of General Dynamics during the 4th quarter worth about $130,000. Institutional investors own 86.01% of the company’s stock.
Several equities analysts have recently issued reports on the company. Credit Suisse Group decreased their target price on General Dynamics from $263.00 to $234.00 in a research report on Tuesday. ValuEngine lowered General Dynamics from a “buy” rating to a “hold” rating in a research report on Wednesday, May 2nd. Citigroup boosted their target price on General Dynamics from $215.00 to $235.00 and gave the stock a “neutral” rating in a research report on Thursday, January 25th. Morgan Stanley decreased their target price on General Dynamics from $225.00 to $217.00 and set an “underweight” rating for the company in a research report on Thursday, April 12th. Finally, Zacks Investment Research lowered General Dynamics from a “buy” rating to a “hold” rating in a research report on Thursday, January 25th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and twelve have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $241.11.
General Dynamics opened at $208.73 on Friday, MarketBeat reports. General Dynamics has a fifty-two week low of $191.00 and a fifty-two week high of $230.00. The company has a current ratio of 1.34, a quick ratio of 0.98 and a debt-to-equity ratio of 0.34. The stock has a market cap of $61.06 billion, a PE ratio of 20.98, a price-to-earnings-growth ratio of 1.99 and a beta of 0.84.
General Dynamics (NYSE:GD) last released its quarterly earnings data on Wednesday, April 25th. The aerospace company reported $2.65 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.49 by $0.16. General Dynamics had a return on equity of 26.83% and a net margin of 9.49%. The business had revenue of $7.50 billion for the quarter, compared to analysts’ expectations of $7.56 billion. During the same quarter in the previous year, the business posted $2.48 EPS. General Dynamics’s revenue for the quarter was up .8% on a year-over-year basis. equities analysts expect that General Dynamics will post 11.09 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 11th. Stockholders of record on Friday, April 13th were issued a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a dividend yield of 1.78%. The ex-dividend date of this dividend was Thursday, April 12th. This is a boost from General Dynamics’s previous quarterly dividend of $0.84. General Dynamics’s payout ratio is 37.39%.
In other General Dynamics news, VP Gary L. Whited sold 5,977 shares of the business’s stock in a transaction that occurred on Tuesday, March 6th. The stock was sold at an average price of $224.52, for a total value of $1,341,956.04. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider S. Daniel Johnson sold 3,933 shares of the business’s stock in a transaction that occurred on Friday, March 9th. The shares were sold at an average price of $228.79, for a total value of $899,831.07. Following the completion of the sale, the insider now owns 66,363 shares in the company, valued at approximately $15,183,190.77. The disclosure for this sale can be found here. Insiders have sold a total of 14,043 shares of company stock worth $3,172,828 in the last quarter. 6.70% of the stock is currently owned by company insiders.
General Dynamics Company Profile
General Dynamics Corporation operates as an aerospace and defense company worldwide. It operates through four business groups: Aerospace; Combat Systems; Information Systems and Technology; and Marine Systems. The Aerospace group designs, develops, manufactures, service and supports business-jet aircraft; and provides aircraft services, such as maintenance, aircraft management, charter, fixed-base operational, and staffing services.
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