Burke & Herbert Bank & Trust Co. purchased a new stake in shares of General Dynamics Co. (NYSE:GD) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 1,602 shares of the aerospace company’s stock, valued at approximately $298,000.
A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Millennium Management LLC lifted its position in shares of General Dynamics by 234.2% in the 1st quarter. Millennium Management LLC now owns 931,892 shares of the aerospace company’s stock worth $205,855,000 after purchasing an additional 653,083 shares during the period. Renaissance Technologies LLC lifted its position in shares of General Dynamics by 119.3% in the 4th quarter. Renaissance Technologies LLC now owns 703,800 shares of the aerospace company’s stock worth $143,188,000 after purchasing an additional 382,883 shares during the period. Two Sigma Investments LP lifted its position in shares of General Dynamics by 129.2% in the 4th quarter. Two Sigma Investments LP now owns 482,813 shares of the aerospace company’s stock worth $98,228,000 after purchasing an additional 272,166 shares during the period. CI Investments Inc. lifted its position in shares of General Dynamics by 122.8% in the 1st quarter. CI Investments Inc. now owns 463,073 shares of the aerospace company’s stock worth $102,293,000 after purchasing an additional 255,188 shares during the period. Finally, Lord Abbett & CO. LLC lifted its position in shares of General Dynamics by 40.5% in the 1st quarter. Lord Abbett & CO. LLC now owns 714,761 shares of the aerospace company’s stock worth $157,890,000 after purchasing an additional 205,864 shares during the period. 86.00% of the stock is owned by institutional investors and hedge funds.
GD has been the subject of several research analyst reports. Morgan Stanley dropped their target price on shares of General Dynamics from $225.00 to $217.00 and set an “underweight” rating for the company in a research report on Thursday, April 12th. Cowen reaffirmed a “buy” rating and issued a $253.00 target price on shares of General Dynamics in a research report on Monday, April 9th. Zacks Investment Research cut shares of General Dynamics from a “buy” rating to a “hold” rating in a research report on Monday, March 12th. Stifel Nicolaus raised their target price on shares of General Dynamics from $220.00 to $230.00 and gave the stock a “hold” rating in a research report on Thursday, April 26th. Finally, Barclays initiated coverage on shares of General Dynamics in a research report on Thursday, March 29th. They issued an “overweight” rating and a $282.00 target price for the company. Four investment analysts have rated the stock with a sell rating, four have issued a hold rating and eleven have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $240.53.
Shares of General Dynamics stock traded up $0.14 during trading on Friday, hitting $188.84. The company’s stock had a trading volume of 1,484,474 shares, compared to its average volume of 1,645,117. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.34 and a quick ratio of 0.98. The firm has a market cap of $56.34 billion, a price-to-earnings ratio of 18.84, a PEG ratio of 1.79 and a beta of 0.85. General Dynamics Co. has a 52 week low of $184.21 and a 52 week high of $230.00.
General Dynamics (NYSE:GD) last issued its quarterly earnings results on Wednesday, April 25th. The aerospace company reported $2.65 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.49 by $0.16. The company had revenue of $7.50 billion during the quarter, compared to analyst estimates of $7.56 billion. General Dynamics had a net margin of 9.49% and a return on equity of 26.83%. General Dynamics’s quarterly revenue was up .8% compared to the same quarter last year. During the same period last year, the business earned $2.48 EPS. equities analysts anticipate that General Dynamics Co. will post 11.02 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, August 10th. Investors of record on Friday, July 6th will be paid a $0.93 dividend. The ex-dividend date is Thursday, July 5th. This represents a $3.72 annualized dividend and a dividend yield of 1.97%. General Dynamics’s payout ratio is 37.39%.
About General Dynamics
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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