Schulhoff & Co. Inc. reduced its position in General Dynamics Co. (NYSE:GD – Get Rating) by 0.6% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,126 shares of the aerospace company’s stock after selling 79 shares during the quarter. General Dynamics comprises about 1.3% of Schulhoff & Co. Inc.’s holdings, making the stock its 23rd biggest holding. Schulhoff & Co. Inc.’s holdings in General Dynamics were worth $3,165,000 at the end of the most recent reporting period.
Several other hedge funds also recently bought and sold shares of GD. Norges Bank purchased a new position in General Dynamics in the fourth quarter worth $484,878,000. Renaissance Technologies LLC bought a new position in shares of General Dynamics during the 4th quarter valued at about $59,060,000. Marshall Wace LLP purchased a new position in shares of General Dynamics during the 4th quarter valued at about $57,036,000. Acadian Asset Management LLC lifted its position in General Dynamics by 4,735.0% in the 4th quarter. Acadian Asset Management LLC now owns 201,571 shares of the aerospace company’s stock worth $42,009,000 after buying an additional 197,402 shares during the last quarter. Finally, Payden & Rygel bought a new position in General Dynamics during the first quarter valued at approximately $39,127,000. Hedge funds and other institutional investors own 85.84% of the company’s stock.
Analysts Set New Price Targets
A number of equities research analysts have recently issued reports on the stock. Susquehanna upped their price objective on shares of General Dynamics from $280.00 to $285.00 in a research note on Thursday, April 28th. Susquehanna Bancshares upped their price target on shares of General Dynamics from $280.00 to $285.00 in a research report on Thursday, April 28th. Seaport Res Ptn reiterated a “buy” rating on shares of General Dynamics in a report on Wednesday, July 27th. Finally, Cowen set a $260.00 target price on General Dynamics in a report on Tuesday, July 19th. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $253.71.
General Dynamics Trading Down 0.2 %
General Dynamics (NYSE:GD – Get Rating) last announced its quarterly earnings results on Wednesday, July 27th. The aerospace company reported $2.75 EPS for the quarter, topping analysts’ consensus estimates of $2.72 by $0.03. The company had revenue of $9.19 billion during the quarter, compared to analyst estimates of $9.42 billion. General Dynamics had a return on equity of 19.25% and a net margin of 8.61%. During the same quarter last year, the firm posted $2.61 earnings per share. The firm’s revenue was down .3% on a year-over-year basis. Research analysts predict that General Dynamics Co. will post 12.15 EPS for the current fiscal year.
General Dynamics Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Thursday, November 10th. Investors of record on Friday, October 7th will be paid a $1.26 dividend. This represents a $5.04 dividend on an annualized basis and a yield of 2.20%. The ex-dividend date of this dividend is Thursday, October 6th. General Dynamics’s payout ratio is currently 42.64%.
General Dynamics Profile
General Dynamics Corporation operates as an aerospace and defense company worldwide. It operates through four segments: Aerospace, Marine Systems, Combat Systems, and Technologies. The Aerospace segment designs, manufactures, and sells business jets; and offers aircraft maintenance and repair, management, charter, aircraft-on-ground support and completion, staffing, and fixed-base operator services.
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