HBK Investments L P bought a new stake in shares of General Dynamics Co. (NYSE:GD) in the fourth quarter, Holdings Channel reports. The firm bought 51,000 shares of the aerospace company’s stock, valued at approximately $10,376,000.
A number of other institutional investors have also recently bought and sold shares of the business. Stonebridge Capital Management Inc. boosted its stake in General Dynamics by 0.7% during the 4th quarter. Stonebridge Capital Management Inc. now owns 32,173 shares of the aerospace company’s stock valued at $6,776,000 after purchasing an additional 223 shares during the period. Advisor Partners LLC boosted its stake in General Dynamics by 4.4% during the 4th quarter. Advisor Partners LLC now owns 5,412 shares of the aerospace company’s stock valued at $1,132,000 after purchasing an additional 229 shares during the period. Royce & Associates LP boosted its stake in General Dynamics by 1.0% during the 3rd quarter. Royce & Associates LP now owns 24,750 shares of the aerospace company’s stock valued at $5,088,000 after purchasing an additional 250 shares during the period. Clear Perspective Advisors LLC boosted its stake in General Dynamics by 8.1% during the 4th quarter. Clear Perspective Advisors LLC now owns 3,355 shares of the aerospace company’s stock valued at $683,000 after purchasing an additional 252 shares during the period. Finally, FTB Advisors Inc. boosted its stake in General Dynamics by 4.1% during the 4th quarter. FTB Advisors Inc. now owns 6,481 shares of the aerospace company’s stock valued at $1,318,000 after purchasing an additional 258 shares during the period. 93.41% of the stock is owned by hedge funds and other institutional investors.
Shares of General Dynamics Co. (NYSE GD) opened at $223.35 on Wednesday. The firm has a market cap of $66,703.16, a P/E ratio of 23.39, a PEG ratio of 2.38 and a beta of 0.83. General Dynamics Co. has a one year low of $183.72 and a one year high of $230.00. The company has a quick ratio of 0.99, a current ratio of 1.40 and a debt-to-equity ratio of 0.35.
General Dynamics (NYSE:GD) last released its earnings results on Wednesday, January 24th. The aerospace company reported $2.50 EPS for the quarter, topping analysts’ consensus estimates of $2.37 by $0.13. General Dynamics had a net margin of 9.40% and a return on equity of 27.22%. The business had revenue of $8.28 billion for the quarter, compared to the consensus estimate of $8.40 billion. During the same period in the previous year, the firm earned $1.89 EPS. The business’s revenue for the quarter was up 8.1% on a year-over-year basis. research analysts anticipate that General Dynamics Co. will post 11.09 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, May 11th. Investors of record on Friday, April 13th will be issued a $0.93 dividend. This is an increase from General Dynamics’s previous quarterly dividend of $0.84. This represents a $3.72 dividend on an annualized basis and a dividend yield of 1.67%. The ex-dividend date is Thursday, April 12th. General Dynamics’s payout ratio is presently 35.18%.
In related news, EVP John Patrick Casey sold 4,133 shares of the business’s stock in a transaction that occurred on Thursday, March 8th. The shares were sold at an average price of $225.27, for a total value of $931,040.91. Following the sale, the executive vice president now directly owns 96,055 shares in the company, valued at approximately $21,638,309.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider S. Daniel Johnson sold 3,933 shares of the business’s stock in a transaction that occurred on Friday, March 9th. The stock was sold at an average price of $228.79, for a total transaction of $899,831.07. Following the completion of the sale, the insider now owns 66,363 shares in the company, valued at $15,183,190.77. The disclosure for this sale can be found here. Insiders sold a total of 30,357 shares of company stock worth $6,715,463 over the last quarter. Insiders own 6.70% of the company’s stock.
A number of research firms have issued reports on GD. Citigroup boosted their target price on shares of General Dynamics from $215.00 to $235.00 and gave the company a “neutral” rating in a research note on Thursday, January 25th. Bank of America boosted their target price on shares of General Dynamics from $245.00 to $260.00 and gave the company a “buy” rating in a research note on Thursday, January 25th. Jefferies Group reissued a “buy” rating and set a $237.00 target price on shares of General Dynamics in a research note on Monday, January 8th. Royal Bank of Canada boosted their target price on shares of General Dynamics to $267.00 and gave the company an “outperform” rating in a research note on Tuesday, February 20th. Finally, Zacks Investment Research raised shares of General Dynamics from a “sell” rating to a “hold” rating in a research note on Thursday, January 11th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and thirteen have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $235.88.
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General Dynamics Company 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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