IndexIQ Advisors LLC raised its holdings in shares of General Dynamics Co. (NYSE:GD) by 57.1% in the fourth quarter, HoldingsChannel reports. The firm owned 31,720 shares of the aerospace company’s stock after buying an additional 11,528 shares during the period. IndexIQ Advisors LLC’s holdings in General Dynamics were worth $4,987,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. We Are One Seven LLC purchased a new position in General Dynamics during the 4th quarter worth $27,000. Moody National Bank Trust Division boosted its holdings in General Dynamics by 120.0% during the 4th quarter. Moody National Bank Trust Division now owns 363 shares of the aerospace company’s stock worth $57,000 after acquiring an additional 198 shares during the last quarter. Csenge Advisory Group purchased a new position in shares of General Dynamics in the 3rd quarter worth about $80,000. Zions Bancorporation purchased a new position in shares of General Dynamics in the 3rd quarter worth about $109,000. Finally, Psagot Investment House Ltd. purchased a new position in shares of General Dynamics in the 3rd quarter worth about $133,000. Institutional investors and hedge funds own 86.24% of the company’s stock.
A number of brokerages recently weighed in on GD. Drexel Hamilton reissued a “buy” rating and issued a $230.00 price target on shares of General Dynamics in a report on Monday, February 4th. Zacks Investment Research downgraded shares of General Dynamics from a “hold” rating to a “sell” rating in a report on Monday, February 4th. Sanford C. Bernstein cut their price target on shares of General Dynamics from $186.00 to $178.00 and set a “market perform” rating on the stock in a report on Monday, February 4th. ValuEngine downgraded shares of General Dynamics from a “hold” rating to a “sell” rating in a report on Saturday, February 2nd. Finally, Argus downgraded shares of General Dynamics from a “buy” rating to a “hold” rating and set a $170.91 price target on the stock. in a report on Thursday, January 31st. Four analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $208.23.
In other General Dynamics news, Director Catherine B. Reynolds acquired 600 shares of the company’s stock in a transaction on Friday, December 7th. The shares were acquired at an average cost of $167.64 per share, with a total value of $100,584.00. Following the completion of the acquisition, the director now directly owns 1,153 shares in the company, valued at $193,288.92. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Christopher J. Brady sold 2,327 shares of the company’s stock in a transaction dated Monday, February 4th. The shares were sold at an average price of $171.23, for a total transaction of $398,452.21. Following the sale, the vice president now directly owns 5,134 shares in the company, valued at $879,094.82. The disclosure for this sale can be found here. 6.90% of the stock is owned by corporate insiders.
NYSE GD opened at $172.12 on Friday. The stock has a market cap of $51.41 billion, a price-to-earnings ratio of 15.07, a price-to-earnings-growth ratio of 1.61 and a beta of 1.16. General Dynamics Co. has a 52 week low of $143.87 and a 52 week high of $230.00. The company has a current ratio of 1.23, a quick ratio of 0.83 and a debt-to-equity ratio of 0.98.
General Dynamics (NYSE:GD) last released its quarterly earnings data on Wednesday, January 30th. The aerospace company reported $3.07 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.98 by $0.09. The business had revenue of $10.38 billion for the quarter, compared to the consensus estimate of $10.34 billion. General Dynamics had a net margin of 9.24% and a return on equity of 28.33%. The company’s revenue was up 25.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.50 earnings per share. On average, analysts anticipate that General Dynamics Co. will post 11.73 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 8th. Shareholders of record on Friday, January 18th were issued a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a yield of 2.16%. The ex-dividend date of this dividend was Thursday, January 17th. General Dynamics’s dividend payout ratio (DPR) is presently 32.57%.
General Dynamics Profile
General Dynamics Corporation operates as an aerospace and defense company worldwide. It operates through four business groups: Aerospace; Combat Systems; Information Systems and Technology; and Marine Systems. The Aerospace group designs, develops, manufactures, service and supports business-jet aircraft; and provides aircraft services, such as maintenance, aircraft management, charter, fixed-base operational, and staffing services.
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