Virtu Financial LLC acquired a new position in shares of General Dynamics Co. (NYSE:GD) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 3,329 shares of the aerospace company’s stock, valued at approximately $682,000.
Other hedge funds have also recently modified their holdings of the company. CSat Investment Advisory L.P. purchased a new position in shares of General Dynamics during the second quarter worth about $101,000. Zions Bancorporation purchased a new position in shares of General Dynamics during the third quarter worth about $109,000. Fort L.P. purchased a new position in shares of General Dynamics during the second quarter worth about $117,000. Ruggie Capital Group purchased a new position in shares of General Dynamics during the second quarter worth about $122,000. Finally, Ffcm LLC grew its holdings in shares of General Dynamics by 504.1% during the third quarter. Ffcm LLC now owns 53,032 shares of the aerospace company’s stock worth $126,000 after buying an additional 44,253 shares during the last quarter. 86.38% of the stock is currently owned by institutional investors.
GD stock opened at $171.02 on Friday. General Dynamics Co. has a 12-month low of $164.76 and a 12-month high of $230.00. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.27 and a quick ratio of 0.87. The company has a market cap of $51.29 billion, a PE ratio of 17.19, a P/E/G ratio of 1.44 and a beta of 0.98.
General Dynamics (NYSE:GD) last posted its quarterly earnings results on Wednesday, October 24th. The aerospace company reported $2.89 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.76 by $0.13. General Dynamics had a net margin of 9.01% and a return on equity of 27.22%. The company had revenue of $9.09 billion during the quarter, compared to the consensus estimate of $9.41 billion. During the same period last year, the firm earned $2.52 EPS. The company’s revenue for the quarter was up 20.0% on a year-over-year basis. On average, analysts forecast that General Dynamics Co. will post 11.31 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, February 8th. Stockholders of record on Friday, January 18th will be given a dividend of $0.93 per share. This represents a $3.72 dividend on an annualized basis and a dividend yield of 2.18%. General Dynamics’s payout ratio is 37.39%.
In related news, insider S. Daniel Johnson sold 77,810 shares of General Dynamics stock in a transaction that occurred on Friday, September 14th. The stock was sold at an average price of $199.85, for a total transaction of $15,550,328.50. Following the completion of the transaction, the insider now directly owns 99,333 shares in the company, valued at approximately $19,851,700.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Mark Malcolm acquired 3,000 shares of the business’s stock in a transaction that occurred on Friday, October 26th. The shares were bought at an average price of $169.87 per share, with a total value of $509,610.00. Following the completion of the transaction, the director now directly owns 4,455 shares in the company, valued at $756,770.85. The disclosure for this purchase can be found here. 6.70% of the stock is currently owned by company insiders.
A number of equities analysts recently issued reports on GD shares. UBS Group started coverage on General Dynamics in a report on Wednesday, August 15th. They set a “neutral” rating and a $210.00 price target on the stock. Drexel Hamilton reissued a “buy” rating and set a $230.00 price target on shares of General Dynamics in a report on Thursday, August 16th. Zacks Investment Research lowered General Dynamics from a “hold” rating to a “sell” rating in a report on Wednesday, October 10th. Cowen reissued a “buy” rating and set a $253.00 price target on shares of General Dynamics in a report on Monday, October 15th. Finally, Wells Fargo & Co reduced their price objective on shares of General Dynamics from $250.00 to $210.00 and set an “outperform” rating for the company in a research report on Thursday, October 25th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and eleven have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $227.44.
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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.
Further Reading: Market Capitalization
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