Fluent Financial LLC purchased a new stake in shares of General Dynamics Co. (NYSE:GD) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund purchased 8,952 shares of the aerospace company’s stock, valued at approximately $1,579,000.
A number of other institutional investors and hedge funds also recently modified their holdings of GD. Barrow Hanley Mewhinney & Strauss LLC boosted its position in shares of General Dynamics by 5.3% during the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,590,209 shares of the aerospace company’s stock valued at $470,952,000 after buying an additional 130,747 shares during the last quarter. Nuveen Asset Management LLC boosted its position in shares of General Dynamics by 852.6% during the second quarter. Nuveen Asset Management LLC now owns 1,044,973 shares of the aerospace company’s stock valued at $189,997,000 after buying an additional 935,275 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its position in shares of General Dynamics by 0.5% during the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 954,479 shares of the aerospace company’s stock valued at $174,412,000 after buying an additional 4,353 shares during the last quarter. Primecap Management Co. CA boosted its position in shares of General Dynamics by 24.1% during the second quarter. Primecap Management Co. CA now owns 869,990 shares of the aerospace company’s stock valued at $158,182,000 after buying an additional 169,000 shares during the last quarter. Finally, Parametric Portfolio Associates LLC lifted its holdings in General Dynamics by 0.5% during the third quarter. Parametric Portfolio Associates LLC now owns 667,960 shares of the aerospace company’s stock worth $122,056,000 after acquiring an additional 3,224 shares during the period. 86.14% of the stock is owned by hedge funds and other institutional investors.
In other General Dynamics news, EVP Mark C. Roualet sold 50,195 shares of the stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $181.78, for a total transaction of $9,124,447.10. Following the completion of the transaction, the executive vice president now directly owns 169,443 shares of the company’s stock, valued at $30,801,348.54. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 7.10% of the stock is currently owned by corporate insiders.
Several research analysts have weighed in on the company. Morgan Stanley boosted their price objective on General Dynamics from $172.00 to $175.00 and gave the stock an “underweight” rating in a research report on Thursday, December 12th. Cowen reaffirmed a “buy” rating and set a $215.00 target price on shares of General Dynamics in a research report on Tuesday, December 17th. Barclays reiterated a “buy” rating and set a $210.00 target price on shares of General Dynamics in a research note on Thursday, December 12th. Finally, ValuEngine downgraded shares of General Dynamics from a “hold” rating to a “sell” rating in a report on Friday, December 20th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $198.16.
NYSE GD traded down $0.46 on Friday, hitting $181.94. 365,844 shares of the stock traded hands, compared to its average volume of 1,307,253. The business’s fifty day moving average is $179.87 and its two-hundred day moving average is $182.53. General Dynamics Co. has a 12 month low of $160.21 and a 12 month high of $193.76. The firm has a market capitalization of $52.36 billion, a price-to-earnings ratio of 15.93, a PEG ratio of 1.63 and a beta of 1.14. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.74 and a current ratio of 1.11.
General Dynamics (NYSE:GD) last announced its quarterly earnings data on Wednesday, October 23rd. The aerospace company reported $3.14 earnings per share for the quarter, beating the consensus estimate of $3.06 by $0.08. General Dynamics had a return on equity of 26.79% and a net margin of 8.66%. The business had revenue of $9.76 billion during the quarter, compared to analyst estimates of $9.75 billion. During the same period in the prior year, the company earned $2.89 earnings per share. General Dynamics’s revenue was up 7.3% compared to the same quarter last year. Analysts expect that General Dynamics Co. will post 11.91 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Friday, January 17th will be issued a dividend of $1.02 per share. This represents a $4.08 annualized dividend and a yield of 2.24%. The ex-dividend date is Thursday, January 16th. General Dynamics’s dividend payout ratio (DPR) is 35.73%.
General Dynamics Company 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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