MinichMacGregor Wealth Management LLC bought a new stake in General Dynamics Co. (NYSE:GD) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 2,700 shares of the aerospace company’s stock, valued at approximately $465,000.
Other hedge funds and other institutional investors have also modified their holdings of the company. Oregon Public Employees Retirement Fund raised its position in shares of General Dynamics by 14,601.4% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 9,581,635 shares of the aerospace company’s stock valued at $61,000 after acquiring an additional 9,516,460 shares during the period. Matthew Goff Investment Advisor LLC raised its holdings in General Dynamics by 18,540.8% during the 3rd quarter. Matthew Goff Investment Advisor LLC now owns 4,959,204 shares of the aerospace company’s stock worth $26,604,000 after buying an additional 4,932,600 shares during the period. Vanguard Group Inc raised its holdings in General Dynamics by 1.7% during 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 during the period. California Public Employees Retirement System raised its holdings in General Dynamics by 35.1% during the 4th quarter. California Public Employees Retirement System now owns 1,172,516 shares of the aerospace company’s stock worth $184,331,000 after buying an additional 304,454 shares during the period. Finally, Ceredex Value Advisors LLC acquired a new stake in General Dynamics during the 4th quarter worth approximately $41,069,000. 87.16% of the stock is currently owned by institutional investors.
Several brokerages have commented on GD. Zacks Investment Research downgraded shares of General Dynamics from a “hold” rating to a “sell” rating in a report on Thursday, February 21st. UBS Group raised their target price on shares of General Dynamics from $175.00 to $190.00 and gave the stock a “neutral” rating in a report on Thursday, April 25th. Sanford C. Bernstein lowered their price objective 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. FIG Partners upgraded shares of General Dynamics to an “add” rating in a report on Tuesday, January 8th. Finally, Cowen reiterated a “buy” rating and issued a $202.00 price objective on shares of General Dynamics in a report on Wednesday, April 24th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and seven have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $198.29.
In related news, EVP John Patrick Casey sold 45,470 shares of the business’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $172.46, for a total value of $7,841,756.20. Following the completion of the transaction, the executive vice president now owns 148,133 shares of the company’s stock, valued at $25,547,017.18. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Gary L. Whited sold 14,640 shares of the business’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $165.38, for a total value of $2,421,163.20. Following the completion of the transaction, the vice president now directly owns 30,462 shares of the company’s stock, valued at approximately $5,037,805.56. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 64,690 shares of company stock valued at $11,052,603. Company insiders own 7.10% of the company’s stock.
Shares of NYSE:GD traded down $2.19 during midday trading on Wednesday, hitting $168.29. The stock had a trading volume of 2,021,500 shares, compared to its average volume of 1,391,470. General Dynamics Co. has a 12 month low of $143.87 and a 12 month high of $208.88. The company has a current ratio of 1.23, a quick ratio of 0.82 and a debt-to-equity ratio of 0.94. The stock has a market capitalization of $49.25 billion, a PE ratio of 14.74, a P/E/G ratio of 1.69 and a beta of 1.13.
General Dynamics (NYSE:GD) last released its quarterly earnings data on Wednesday, April 24th. The aerospace company reported $2.56 EPS for the quarter, topping the Zacks’ consensus estimate of $2.38 by $0.18. General Dynamics had a net margin of 8.68% and a return on equity of 27.62%. The firm had revenue of $9.26 billion during the quarter, compared to analysts’ expectations of $8.90 billion. During the same period in the previous year, the business posted $2.65 earnings per share. The company’s revenue for the quarter was up 22.9% compared to the same quarter last year. On average, equities analysts predict that General Dynamics Co. will post 11.74 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 10th. Shareholders of record on Friday, April 12th will be given a dividend of $1.02 per share. This represents a $4.08 dividend on an annualized basis and a yield of 2.42%. This is a boost from General Dynamics’s previous quarterly dividend of $0.93. The ex-dividend date of this dividend is Thursday, April 11th. General Dynamics’s payout ratio 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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