Wealthfront Advisers LLC lifted its holdings in General Dynamics Co. (NYSE:GD) by 19.5% during the first quarter, HoldingsChannel.com reports. The fund owned 10,619 shares of the aerospace company’s stock after buying an additional 1,730 shares during the quarter. Wealthfront Advisers LLC’s holdings in General Dynamics were worth $1,798,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also added to or reduced their stakes in the company. Exeter Financial LLC lifted its stake in shares of General Dynamics by 0.9% in the fourth quarter. Exeter Financial LLC now owns 7,105 shares of the aerospace company’s stock worth $1,117,000 after buying an additional 61 shares in the last quarter. Capital Investment Advisory Services LLC raised its stake in General Dynamics by 10.2% during the first quarter. Capital Investment Advisory Services LLC now owns 657 shares of the aerospace company’s stock worth $111,000 after purchasing an additional 61 shares during the period. Weatherstone Capital Management raised its stake in General Dynamics by 2.9% during the first quarter. Weatherstone Capital Management now owns 2,224 shares of the aerospace company’s stock worth $376,000 after purchasing an additional 63 shares during the period. National Asset Management Inc. raised its stake in General Dynamics by 2.1% during the first quarter. National Asset Management Inc. now owns 3,029 shares of the aerospace company’s stock worth $513,000 after purchasing an additional 63 shares during the period. Finally, Somerset Trust Co raised its stake in General Dynamics by 0.5% during the first quarter. Somerset Trust Co now owns 13,039 shares of the aerospace company’s stock worth $2,208,000 after purchasing an additional 69 shares during the period. Hedge funds and other institutional investors own 86.48% of the company’s stock.
Shares of GD stock traded up $0.19 during trading on Wednesday, reaching $169.92. The company’s stock had a trading volume of 23,331 shares, compared to its average volume of 1,360,786. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.82 and a current ratio of 1.23. The stock has a market capitalization of $48.75 billion, a P/E ratio of 14.86, a price-to-earnings-growth ratio of 1.66 and a beta of 1.15. General Dynamics Co. has a 1-year low of $143.87 and a 1-year high of $207.72.
General Dynamics (NYSE:GD) last announced its quarterly earnings data on Wednesday, April 24th. The aerospace company reported $2.56 earnings per share for the quarter, beating analysts’ consensus estimates of $2.38 by $0.18. The firm had revenue of $9.26 billion during the quarter, compared to analysts’ expectations of $8.90 billion. General Dynamics had a net margin of 8.68% and a return on equity of 27.62%. The business’s quarterly revenue was up 22.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.65 earnings per share. On average, research analysts forecast that General Dynamics Co. will post 11.76 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 9th. Investors of record on Friday, July 5th will be issued a $1.02 dividend. This represents a $4.08 dividend on an annualized basis and a dividend yield of 2.40%. The ex-dividend date of this dividend is Wednesday, July 3rd. General Dynamics’s dividend payout ratio (DPR) is currently 35.73%.
In other General Dynamics news, EVP John Patrick Casey sold 45,470 shares of the business’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $172.46, for a total transaction of $7,841,756.20. Following the completion of the transaction, the executive vice president now owns 148,133 shares in the company, valued at approximately $25,547,017.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 7.10% of the company’s stock.
A number of brokerages have commented on GD. Cowen reaffirmed a “buy” rating and set a $202.00 target price on shares of General Dynamics in a research note on Wednesday, April 24th. JPMorgan Chase & Co. raised shares of General Dynamics from an “underweight” rating to a “neutral” rating and boosted their price target for the company from $188.00 to $200.00 in a research note on Thursday, April 25th. They noted that the move was a valuation call. UBS Group boosted their price target on shares of General Dynamics from $175.00 to $190.00 and gave the company a “neutral” rating in a research note on Thursday, April 25th. Zacks Investment Research downgraded shares of General Dynamics from a “buy” rating to a “hold” rating in a research note on Monday, May 6th. Finally, Credit Suisse Group downgraded shares of General Dynamics from an “outperform” rating to a “neutral” rating and reduced their price target for the company from $190.00 to $184.00 in a research note on Friday, February 15th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and eight have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $197.22.
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General Dynamics Profile
General Dynamics Corporation operates as an aerospace and defense company worldwide. It operates in five segments: Aerospace, Combat Systems, Information Technology, Mission Systems, and Marine Systems. The Aerospace segment designs, manufactures, and supports business-jet aircraft; and offers business-aviation services, including maintenance, fixed-base operation, government fleet, aircraft management, charter, and staffing services, as well as integrated aviation solutions.
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