Ladenburg Thalmann Financial Services Inc. grew its position in shares of General Dynamics Co. (NYSE:GD) by 2.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 28,432 shares of the aerospace company’s stock after purchasing an additional 803 shares during the quarter. Ladenburg Thalmann Financial Services Inc.’s holdings in General Dynamics were worth $5,785,000 as of its most recent SEC filing.
Several other hedge funds have also recently made changes to their positions in the company. Cornerstone Capital Management Holdings LLC. lifted its stake in shares of General Dynamics by 9.0% in the fourth quarter. Cornerstone Capital Management Holdings LLC. now owns 59,355 shares of the aerospace company’s stock worth $12,075,000 after acquiring an additional 4,887 shares during the period. Elkfork Partners LLC acquired a new position in shares of General Dynamics in the fourth quarter worth approximately $1,132,000. Captrust Financial Advisors acquired a new position in shares of General Dynamics in the fourth quarter worth approximately $165,000. Raymond James & Associates lifted its stake in shares of General Dynamics by 4.5% in the fourth quarter. Raymond James & Associates now owns 228,313 shares of the aerospace company’s stock worth $46,451,000 after acquiring an additional 9,866 shares during the period. Finally, HBK Investments L P acquired a new position in shares of General Dynamics in the fourth quarter worth approximately $10,376,000. 93.41% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities analysts recently commented on GD shares. Jefferies Group reaffirmed a “buy” rating and issued a $237.00 price objective on shares of General Dynamics in a research note on Monday, January 8th. Bank of America lifted their price objective on General Dynamics from $245.00 to $260.00 and gave the stock a “buy” rating in a research note on Thursday, January 25th. Royal Bank of Canada set a $246.00 price objective on General Dynamics and gave the stock a “buy” rating in a research note on Tuesday, January 23rd. Zacks Investment Research raised General Dynamics from a “hold” rating to a “buy” rating and set a $234.00 price objective on the stock in a research note on Friday, January 19th. Finally, Buckingham Research reaffirmed a “buy” rating and issued a $260.00 price objective (up from $230.00) on shares of General Dynamics in a research note on Tuesday, January 30th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and thirteen have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $235.88.
In other news, insider John Patrick Casey sold 9,304 shares of the business’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $215.29, for a total transaction of $2,003,058.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Gary L. Whited sold 5,977 shares of the business’s stock in a transaction that occurred on Tuesday, March 6th. The shares were sold at an average price of $224.52, for a total value of $1,341,956.04. The disclosure for this sale can be found here. Over the last quarter, insiders sold 30,357 shares of company stock valued at $6,715,463. 6.70% of the stock is currently owned by corporate insiders.
Shares of General Dynamics Co. (NYSE GD) opened at $222.74 on Friday. The firm has a market capitalization of $66,139.08, a P/E ratio of 23.32, a price-to-earnings-growth ratio of 2.36 and a beta of 0.83. 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 Co. has a 1-year low of $183.72 and a 1-year high of $230.00.
General Dynamics (NYSE:GD) last issued its earnings results on Wednesday, January 24th. The aerospace company reported $2.50 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.37 by $0.13. The business had revenue of $8.28 billion during the quarter, compared to the consensus estimate of $8.40 billion. General Dynamics had a return on equity of 27.22% and a net margin of 9.40%. The firm’s revenue for the quarter was up 8.1% on a year-over-year basis. During the same period in the previous year, the company posted $1.89 earnings per share. equities analysts anticipate that General Dynamics Co. will post 11.09 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, May 11th. Shareholders 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 yield of 1.67%. The ex-dividend date is Thursday, April 12th. General Dynamics’s payout ratio is presently 35.18%.
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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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