Gulf International Bank UK Ltd lowered its stake in shares of General Dynamics Co. (NYSE:GD – Get Rating) by 80.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,004 shares of the aerospace company’s stock after selling 8,127 shares during the period. Gulf International Bank UK Ltd’s holdings in General Dynamics were worth $417,000 at the end of the most recent quarter.
Other hedge funds also recently modified their holdings of the company. 44 Wealth Management LLC increased its stake in shares of General Dynamics by 11.2% during the 3rd quarter. 44 Wealth Management LLC now owns 9,902 shares of the aerospace company’s stock worth $1,941,000 after purchasing an additional 996 shares during the last quarter. Oppenheimer Asset Management Inc. increased its stake in shares of General Dynamics by 0.6% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 130,431 shares of the aerospace company’s stock worth $25,568,000 after purchasing an additional 807 shares during the last quarter. Boston Private Wealth LLC increased its stake in shares of General Dynamics by 34.1% during the 3rd quarter. Boston Private Wealth LLC now owns 1,753 shares of the aerospace company’s stock worth $344,000 after purchasing an additional 446 shares during the last quarter. Sabal Trust CO increased its stake in shares of General Dynamics by 1.6% during the 3rd quarter. Sabal Trust CO now owns 123,078 shares of the aerospace company’s stock worth $24,127,000 after purchasing an additional 1,990 shares during the last quarter. Finally, Machina Capital S.A.S. purchased a new stake in shares of General Dynamics during the 4th quarter worth approximately $338,000. Institutional investors own 85.02% of the company’s stock.
Several research analysts recently commented on GD shares. UBS Group raised shares of General Dynamics from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $220.00 to $245.00 in a report on Tuesday, December 14th. Wells Fargo & Company raised their price objective on shares of General Dynamics from $235.00 to $282.00 and gave the stock an “overweight” rating in a report on Monday, March 7th. Wolfe Research raised shares of General Dynamics from an “underperform” rating to a “peer perform” rating in a report on Friday, January 28th. Finally, Morgan Stanley raised their price objective on shares of General Dynamics from $215.00 to $243.00 and gave the stock an “equal weight” rating in a report on Wednesday, March 2nd. Four research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $230.00.
In other news, VP William A. Moss sold 2,391 shares of the firm’s stock in a transaction on Thursday, March 3rd. The shares were sold at an average price of $237.17, for a total transaction of $567,073.47. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 6.80% of the company’s stock.
Shares of NYSE:GD opened at $244.36 on Monday. The firm has a fifty day moving average price of $222.70 and a two-hundred day moving average price of $209.40. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.43 and a quick ratio of 1.05. General Dynamics Co. has a one year low of $179.01 and a one year high of $254.99. The company has a market cap of $67.86 billion, a price-to-earnings ratio of 21.16, a PEG ratio of 2.09 and a beta of 1.01.
General Dynamics (NYSE:GD – Get Rating) last announced its quarterly earnings results on Wednesday, January 26th. The aerospace company reported $3.39 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $3.37 by $0.02. The firm had revenue of $10.29 billion during the quarter, compared to the consensus estimate of $10.69 billion. General Dynamics had a net margin of 8.47% and a return on equity of 20.35%. The business’s quarterly revenue was down 1.8% compared to the same quarter last year. During the same period last year, the firm earned $3.49 EPS. Equities research analysts expect that General Dynamics Co. will post 12.12 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 6th. Stockholders of record on Friday, April 8th will be given a dividend of $1.26 per share. The ex-dividend date of this dividend is Thursday, April 7th. This represents a $5.04 annualized dividend and a dividend yield of 2.06%. This is a boost from General Dynamics’s previous quarterly dividend of $1.19. General Dynamics’s dividend payout ratio (DPR) is 41.21%.
About General Dynamics (Get Rating)
General Dynamics Corporation operates as an aerospace and defense company worldwide. It operates through four segments: Aerospace, Marine Systems, Combat Systems, and Technologies. The Aerospace segment designs, manufactures, and sells business jets; and offers aircraft maintenance and repair, management, charter, aircraft-on-ground support and completion, staffing, and fixed-base operator services.
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