HighPoint Advisor Group LLC reduced its stake in General Dynamics Co. (NYSE:GD) by 67.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,554 shares of the aerospace company’s stock after selling 3,227 shares during the period. HighPoint Advisor Group LLC’s holdings in General Dynamics were worth $329,000 as of its most recent SEC filing.
Other hedge funds also recently modified their holdings of the company. Highlander Capital Management LLC boosted its position in shares of General Dynamics by 101.4% during the fourth quarter. Highlander Capital Management LLC now owns 596 shares of the aerospace company’s stock worth $121,000 after buying an additional 300 shares during the period. Resources Investment Advisors Inc. boosted its position in shares of General Dynamics by 92.3% during the fourth quarter. Resources Investment Advisors Inc. now owns 625 shares of the aerospace company’s stock worth $127,000 after buying an additional 300 shares during the period. NuWave Investment Management LLC acquired a new stake in General Dynamics in the fourth quarter worth approximately $130,000. Prime Capital Investment Advisors LLC acquired a new stake in General Dynamics in the fourth quarter worth approximately $134,000. Finally, Fieldpoint Private Securities LLC acquired a new stake in General Dynamics in the third quarter worth approximately $148,000. Institutional investors own 86.06% of the company’s stock.
GD has been the subject of a number of research analyst reports. ValuEngine upgraded General Dynamics from a “hold” rating to a “buy” rating in a research report on Thursday, March 1st. Zacks Investment Research raised General Dynamics from a “hold” rating to a “buy” rating and set a $234.00 price target on the stock in a report on Friday, January 19th. Jefferies Group reaffirmed a “buy” rating and issued a $237.00 price target on shares of General Dynamics in a report on Monday, January 8th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $220.00 price target on shares of General Dynamics in a report on Tuesday, January 9th. Finally, Royal Bank of Canada upped their price target on General Dynamics to $267.00 and gave the company an “outperform” rating in a report on Tuesday, February 20th. Three analysts have rated the stock with a sell rating, five have given a hold rating and thirteen have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $235.88.
In other news, insider John Patrick Casey sold 9,304 shares of the business’s stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $215.29, for a total transaction of $2,003,058.16. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director John M. Keane sold 1,800 shares of the business’s stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $216.43, for a total transaction of $389,574.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 30,357 shares of company stock worth $6,715,463. Company insiders own 6.70% of the company’s stock.
Shares of GD stock opened at $225.38 on Wednesday. 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 Co. has a one year low of $183.72 and a one year high of $230.00. The stock has a market cap of $66,483.43, a price-to-earnings ratio of 23.60, a price-to-earnings-growth ratio of 2.37 and a beta of 0.83.
General Dynamics (NYSE:GD) last announced its earnings results on Wednesday, January 24th. The aerospace company reported $2.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.37 by $0.13. General Dynamics had a net margin of 9.40% and a return on equity of 27.22%. The company 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 business earned $1.89 EPS. The company’s revenue was up 8.1% on a year-over-year basis. equities research analysts anticipate that General Dynamics Co. will post 11.09 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, May 11th. Shareholders of record on Friday, April 13th will be paid a dividend of $0.93 per share. This is an increase from General Dynamics’s previous quarterly dividend of $0.84. This represents a $3.72 annualized dividend and a yield of 1.65%. The ex-dividend date is Thursday, April 12th. General Dynamics’s payout ratio is 35.18%.
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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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