Toronto Dominion Bank increased its position in General Dynamics (NYSE:GD) by 18.1% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 189,779 shares of the aerospace company’s stock after acquiring an additional 29,079 shares during the quarter. Toronto Dominion Bank owned about 0.06% of General Dynamics worth $41,913,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Highlander Capital Management LLC boosted its stake in General Dynamics by 101.4% in the 4th quarter. Highlander Capital Management LLC now owns 596 shares of the aerospace company’s stock worth $121,000 after purchasing an additional 300 shares during the period. Resources Investment Advisors Inc. boosted its stake in General Dynamics by 92.3% in the 4th quarter. Resources Investment Advisors Inc. now owns 625 shares of the aerospace company’s stock worth $127,000 after purchasing an additional 300 shares during the period. We Are One Seven LLC bought a new position in General Dynamics in the 4th quarter worth about $128,000. NuWave Investment Management LLC bought a new position in General Dynamics in the 4th quarter worth about $130,000. Finally, Prime Capital Investment Advisors LLC bought a new position in General Dynamics in the 4th quarter worth about $134,000. 86.01% of the stock is owned by institutional investors.
Several research analysts have commented on the company. Credit Suisse Group cut their target price on General Dynamics from $263.00 to $234.00 in a research note on Tuesday. ValuEngine downgraded General Dynamics from a “buy” rating to a “hold” rating in a research note on Wednesday, May 2nd. Citigroup raised their target price on General Dynamics from $215.00 to $235.00 and gave the stock a “neutral” rating in a research note on Thursday, January 25th. Morgan Stanley cut their target price on General Dynamics from $225.00 to $217.00 and set an “underweight” rating for the company in a research note on Thursday, April 12th. Finally, Zacks Investment Research downgraded General Dynamics from a “buy” rating to a “hold” rating in a research note on Thursday, January 25th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and twelve have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $241.11.
In related news, VP Gary L. Whited sold 5,977 shares of the business’s stock in a transaction that occurred on Tuesday, March 6th. The stock was sold at an average price of $224.52, for a total value of $1,341,956.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 value of $899,831.07. Following the completion of the sale, the insider now owns 66,363 shares of the company’s stock, valued at approximately $15,183,190.77. The disclosure for this sale can be found here. In the last quarter, insiders have sold 19,253 shares of company stock valued at $4,322,831. Corporate insiders own 6.70% of the company’s stock.
Shares of GD opened at $205.56 on Thursday. The stock has a market cap of $60.70 billion, a PE ratio of 20.66, a price-to-earnings-growth ratio of 1.98 and a beta of 0.84. The company has a quick ratio of 0.98, a current ratio of 1.34 and a debt-to-equity ratio of 0.34. General Dynamics has a 12-month low of $191.00 and a 12-month high of $230.00.
General Dynamics (NYSE:GD) last issued its quarterly earnings results on Wednesday, April 25th. The aerospace company reported $2.65 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.49 by $0.16. The firm had revenue of $7.50 billion during the quarter, compared to the consensus estimate of $7.56 billion. General Dynamics had a return on equity of 26.83% and a net margin of 9.49%. The company’s revenue for the quarter was up .8% on a year-over-year basis. During the same quarter last year, the company posted $2.48 EPS. equities analysts forecast that General Dynamics will post 11.09 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, May 11th. Stockholders of record on Friday, April 13th were given a dividend of $0.93 per share. This represents a $3.72 dividend on an annualized basis and a dividend yield of 1.81%. The ex-dividend date of this dividend was Thursday, April 12th. This is an increase from General Dynamics’s previous quarterly dividend of $0.84. General Dynamics’s dividend payout ratio (DPR) is 37.39%.
General Dynamics Profile
General Dynamics Corporation operates as an aerospace and defense company worldwide. It operates through four business groups: Aerospace; Combat Systems; Information Systems and Technology; and Marine Systems. The Aerospace group designs, develops, manufactures, service and supports business-jet aircraft; and provides aircraft services, such as maintenance, aircraft management, charter, fixed-base operational, and staffing services.
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