Ladenburg Thalmann Financial Services Inc. grew its stake in General Dynamics Co. (NYSE:GD) by 26.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 60,032 shares of the aerospace company’s stock after purchasing an additional 12,574 shares during the quarter. Ladenburg Thalmann Financial Services Inc.’s holdings in General Dynamics were worth $9,013,000 at the end of the most recent reporting period.
Other large investors also recently modified their holdings of the company. Voya Financial Advisors Inc. raised its stake in shares of General Dynamics by 3.9% during the third quarter. Voya Financial Advisors Inc. now owns 11,961 shares of the aerospace company’s stock valued at $2,189,000 after acquiring an additional 445 shares in the last quarter. Merit Financial Group LLC grew its position in shares of General Dynamics by 7.1% during the 3rd quarter. Merit Financial Group LLC now owns 2,619 shares of the aerospace company’s stock valued at $479,000 after acquiring an additional 173 shares during the period. J.P. Marvel Investment Advisors LLC purchased a new stake in shares of General Dynamics in the third quarter valued at approximately $548,000. Virtu Financial LLC acquired a new stake in General Dynamics in the 3rd quarter valued at $680,000. Finally, Carnegie Capital Asset Management LLC grew its position in shares of General Dynamics by 36.3% in the third quarter. Carnegie Capital Asset Management LLC now owns 14,279 shares of the aerospace company’s stock valued at $2,609,000 after purchasing an additional 3,805 shares during the period. Institutional investors and hedge funds own 86.39% of the company’s stock.
GD stock opened at $122.00 on Thursday. The firm has a market cap of $33.08 billion, a price-to-earnings ratio of 10.18, a PEG ratio of 1.15 and a beta of 1.15. General Dynamics Co. has a 1-year low of $100.55 and a 1-year high of $193.76. The firm has a fifty day moving average price of $162.48 and a two-hundred day moving average price of $176.66. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.18 and a quick ratio of 0.80.
General Dynamics (NYSE:GD) last posted its quarterly earnings results on Wednesday, January 29th. The aerospace company reported $3.51 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $3.44 by $0.07. General Dynamics had a net margin of 8.85% and a return on equity of 26.70%. The company had revenue of $10.77 billion for the quarter, compared to the consensus estimate of $10.64 billion. During the same period last year, the firm posted $3.07 EPS. The company’s revenue for the quarter was up 3.8% on a year-over-year basis. As a group, analysts expect that General Dynamics Co. will post 12.56 EPS for the current fiscal year.
General Dynamics declared that its Board of Directors has approved a share buyback program on Wednesday, March 4th that authorizes the company to buyback 10,000,000 shares. This buyback authorization authorizes the aerospace company to repurchase shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.
The business also recently announced a quarterly dividend, which will be paid on Friday, May 8th. Shareholders of record on Friday, April 10th will be paid a $1.10 dividend. This is an increase from General Dynamics’s previous quarterly dividend of $1.02. This represents a $4.40 dividend on an annualized basis and a yield of 3.61%. The ex-dividend date is Wednesday, April 8th. General Dynamics’s payout ratio is presently 34.06%.
GD has been the topic of several recent research reports. Barclays restated a “buy” rating and set a $220.00 target price on shares of General Dynamics in a report on Thursday, January 23rd. ValuEngine raised General Dynamics from a “sell” rating to a “hold” rating in a research note on Friday, March 6th. Susquehanna Bancshares raised General Dynamics from a “neutral” rating to a “positive” rating and set a $210.00 price target for the company in a report on Thursday, February 27th. Cowen reiterated a “buy” rating and issued a $215.00 price objective on shares of General Dynamics in a research report on Tuesday, December 17th. Finally, Cfra upgraded shares of General Dynamics from a “hold” rating to a “buy” rating and boosted their target price for the stock from $195.00 to $211.00 in a research report on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have issued a buy rating to the company. General Dynamics has an average rating of “Buy” and a consensus price target of $203.36.
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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