Nicholas Hoffman & Company LLC. reduced its position in shares of General Dynamics Co. (NYSE:GD) by 7.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,805 shares of the aerospace company’s stock after selling 237 shares during the quarter. Nicholas Hoffman & Company LLC.’s holdings in General Dynamics were worth $571,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of GD. Resources Investment Advisors Inc. raised its position in shares of General Dynamics by 92.3% in the fourth quarter. Resources Investment Advisors Inc. now owns 625 shares of the aerospace company’s stock valued at $127,000 after purchasing an additional 300 shares during the period. NuWave Investment Management LLC bought a new position in shares of General Dynamics in the fourth quarter valued at about $130,000. WFG Advisors LP raised its position in shares of General Dynamics by 0.3% in the second quarter. WFG Advisors LP now owns 668 shares of the aerospace company’s stock valued at $132,000 after purchasing an additional 2 shares during the period. Fieldpoint Private Securities LLC bought a new position in shares of General Dynamics in the third quarter valued at about $148,000. Finally, Independence Bank of Kentucky bought a new position in shares of General Dynamics in the fourth quarter valued at about $157,000. 87.03% of the stock is currently owned by hedge funds and other institutional investors.
Several brokerages have recently weighed in on GD. Credit Suisse Group increased their price objective on shares of General Dynamics from $259.00 to $262.00 and gave the company an “outperform” rating in a research report on Tuesday, February 13th. Royal Bank of Canada set a $246.00 price objective on shares of General Dynamics and gave the company a “buy” rating in a research report on Tuesday, January 23rd. Zacks Investment Research raised shares of General Dynamics from a “hold” rating to a “buy” rating and set a $252.00 price objective on the stock in a research report on Friday, February 2nd. Citigroup increased their price objective on shares of General Dynamics from $215.00 to $235.00 and gave the company a “neutral” rating in a research report on Thursday, January 25th. Finally, Wells Fargo & Co increased their price objective on shares of General Dynamics from $225.00 to $240.00 and gave the company an “outperform” rating in a research report on Thursday, January 25th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and thirteen have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $232.09.
General Dynamics Co. (NYSE GD) opened at $224.19 on Friday. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.40 and a quick ratio of 0.99. General Dynamics Co. has a one year low of $183.72 and a one year high of $229.54. The company has a market cap of $66,569.63, a PE ratio of 22.53, a P/E/G ratio of 2.37 and a beta of 0.85.
General Dynamics (NYSE:GD) last released its quarterly earnings results on Wednesday, January 24th. The aerospace company reported $2.50 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.37 by $0.13. The business had revenue of $8.28 billion for the quarter, compared to the consensus estimate of $8.40 billion. General Dynamics had a net margin of 9.40% and a return on equity of 27.22%. General Dynamics’s revenue was up 8.1% compared to the same quarter last year. During the same period in the prior year, the company posted $1.89 earnings per share. research analysts anticipate that General Dynamics Co. will post 11.1 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, February 9th. Shareholders of record on Friday, January 19th were paid a dividend of $0.84 per share. The ex-dividend date was Thursday, January 18th. This represents a $3.36 dividend on an annualized basis and a yield of 1.50%. General Dynamics’s payout ratio is 35.18%.
In other General Dynamics news, Director John M. Keane sold 1,800 shares of the stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $216.43, for a total transaction of $389,574.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider John Patrick Casey sold 9,304 shares of the stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $215.29, for a total transaction of $2,003,058.16. The disclosure for this sale can be found here. Corporate insiders own 6.70% of the company’s stock.
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General Dynamics Profile
General Dynamics Corporation is a global aerospace and defense company. The Company offers a portfolio of products and services in business aviation; combat vehicles, weapons systems and munitions; information technology (IT) services and C4ISR (command, control, communications, computers, intelligence, surveillance and reconnaissance) solutions, and shipbuilding and ship repair.
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