First Allied Advisory Services Inc. raised its position in shares of General Dynamics Co. (NYSE:GD) by 13.5% during the fourth quarter, Holdings Channel reports. The fund owned 9,368 shares of the aerospace company’s stock after acquiring an additional 1,111 shares during the quarter. First Allied Advisory Services Inc.’s holdings in General Dynamics were worth $1,881,000 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. ETRADE Capital Management LLC lifted its stake in General Dynamics by 38.0% in the third quarter. ETRADE Capital Management LLC now owns 2,337 shares of the aerospace company’s stock worth $481,000 after acquiring an additional 643 shares during the period. Brightworth purchased a new stake in General Dynamics in the third quarter worth about $5,882,000. Amalgamated Bank lifted its stake in General Dynamics by 1.8% in the third quarter. Amalgamated Bank now owns 30,733 shares of the aerospace company’s stock worth $6,318,000 after acquiring an additional 549 shares during the period. IFG Advisory LLC purchased a new stake in General Dynamics in the fourth quarter worth about $543,000. Finally, Alpha Cubed Investments LLC purchased a new stake in General Dynamics in the third quarter worth about $278,000. Institutional investors and hedge funds own 86.88% of the company’s stock.
In other news, Director John M. Keane sold 1,800 shares of the stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $216.43, for a total transaction of $389,574.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider John Patrick Casey sold 9,304 shares of the stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $215.29, for a total value of $2,003,058.16. The disclosure for this sale can be found here. Company insiders own 6.70% of the company’s stock.
GD has been the subject of several analyst reports. Credit Suisse Group increased their price target 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. Zacks Investment Research raised shares of General Dynamics from a “hold” rating to a “buy” rating and set a $252.00 price target for the company in a research report on Friday, February 2nd. Argus raised shares of General Dynamics to a “buy” rating and increased their price target for the company from $230.00 to $250.00 in a research report on Tuesday, January 30th. Buckingham Research reissued a “buy” rating and set a $260.00 price target (up from $230.00) on shares of General Dynamics in a research report on Tuesday, January 30th. Finally, Royal Bank of Canada increased their price target on shares of General Dynamics to $258.00 and gave the company an “outperform” rating in a research report on Thursday, January 25th. Three 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 stock. The company presently has a consensus rating of “Hold” and a consensus target price of $232.09.
Shares of General Dynamics Co. (NYSE GD) opened at $224.19 on Monday. The company has a market cap of $66,569.55, a P/E ratio of 23.48, a PEG ratio of 2.37 and a beta of 0.85. General Dynamics Co. has a one year low of $183.72 and a one year high of $229.54. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.99 and a current ratio of 1.40.
General Dynamics (NYSE:GD) last issued its quarterly earnings data on Wednesday, January 24th. The aerospace company reported $2.50 EPS for the quarter, topping analysts’ consensus estimates of $2.37 by $0.13. The business had revenue of $8.28 billion for the quarter, compared to analysts’ expectations of $8.40 billion. General Dynamics had a net margin of 9.40% and a return on equity of 27.22%. The business’s revenue was up 8.1% on a year-over-year basis. During the same quarter last year, the company earned $1.89 EPS. research analysts forecast that General Dynamics Co. will post 11.1 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, February 9th. Stockholders of record on Friday, January 19th were paid a dividend of $0.84 per share. The ex-dividend date of this dividend was Thursday, January 18th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 1.50%. General Dynamics’s payout ratio is 35.18%.
About General Dynamics
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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