Primecap Management Co. CA lifted its stake in shares of General Dynamics Co. (NYSE:GD) by 0.4% during the first quarter, Holdings Channel reports. The fund owned 700,990 shares of the aerospace company’s stock after purchasing an additional 3,000 shares during the quarter. Primecap Management Co. CA’s holdings in General Dynamics were worth $118,664,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Longview Asset Management LLC grew its holdings in shares of General Dynamics by 0.7% during the first quarter. Longview Asset Management LLC now owns 32,898,410 shares of the aerospace company’s stock valued at $5,569,043,000 after buying an additional 215,179 shares in the last quarter. Vanguard Group Inc raised its holdings in shares of General Dynamics by 1.7% in the 3rd quarter. Vanguard Group Inc now owns 20,905,951 shares of the aerospace company’s stock worth $4,279,866,000 after buying an additional 357,032 shares in the last quarter. Oregon Public Employees Retirement Fund grew its position in General Dynamics by 14,601.4% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 9,581,635 shares of the aerospace company’s stock worth $61,000 after acquiring an additional 9,516,460 shares during the last quarter. Geode Capital Management LLC boosted its position in General Dynamics by 5.8% in the 4th quarter. Geode Capital Management LLC now owns 3,511,536 shares of the aerospace company’s stock valued at $551,080,000 after buying an additional 193,294 shares during the last quarter. Finally, Iridian Asset Management LLC CT lifted its stake in shares of General Dynamics by 3.8% in the 4th quarter. Iridian Asset Management LLC CT now owns 1,198,828 shares of the aerospace company’s stock valued at $188,468,000 after purchasing an additional 43,375 shares during the period. 86.48% of the stock is currently owned by institutional investors and hedge funds.
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 directly owns 148,133 shares in the company, valued at $25,547,017.18. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 7.10% of the company’s stock.
A number of research firms recently commented on GD. Cowen reiterated a “buy” rating and set a $202.00 price target on shares of General Dynamics in a report on Wednesday, April 24th. JPMorgan Chase & Co. raised shares of General Dynamics from an “underweight” rating to a “neutral” rating and upped their price target for the company from $188.00 to $200.00 in a research report on Thursday, April 25th. They noted that the move was a valuation call. UBS Group upped their price objective on shares of General Dynamics from $175.00 to $190.00 and gave the company a “neutral” rating in a report on Thursday, April 25th. Zacks Investment Research lowered 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 target price for the company from $190.00 to $184.00 in a research report on Friday, February 15th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and eight have issued a buy rating to the stock. General Dynamics presently has a consensus rating of “Hold” and an average price target of $196.22.
GD stock traded down $0.87 during midday trading on Friday, hitting $171.07. 5,293 shares of the company’s stock were exchanged, compared to its average volume of 1,129,698. The company has a market capitalization of $49.12 billion, a PE ratio of 14.97, a P/E/G ratio of 1.63 and a beta of 1.15. The company has a quick ratio of 0.82, a current ratio of 1.23 and a debt-to-equity ratio of 0.94. General Dynamics Co. has a 12-month low of $143.87 and a 12-month high of $207.72.
General Dynamics (NYSE:GD) last announced its earnings results on Wednesday, April 24th. The aerospace company reported $2.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.38 by $0.18. The company had revenue of $9.26 billion for the quarter, compared to analyst estimates of $8.90 billion. General Dynamics had a return on equity of 27.62% and a net margin of 8.68%. General Dynamics’s revenue for the quarter was up 22.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.65 earnings per share. As a group, sell-side analysts anticipate that General Dynamics Co. will post 11.76 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 9th. Stockholders of record on Friday, July 5th will be issued a $1.02 dividend. This represents a $4.08 annualized dividend and a dividend yield of 2.38%. The ex-dividend date of this dividend is Wednesday, July 3rd. General Dynamics’s payout ratio is 35.73%.
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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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