Norinchukin Bank The lifted its position in shares of General Dynamics Corporation (NYSE:GD) by 1.7% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 34,866 shares of the aerospace company’s stock after acquiring an additional 596 shares during the quarter. Norinchukin Bank The’s holdings in General Dynamics were worth $7,168,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. ING Groep NV grew its stake in General Dynamics by 65.8% in the third quarter. ING Groep NV now owns 24,068 shares of the aerospace company’s stock valued at $4,948,000 after acquiring an additional 9,551 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in General Dynamics by 6.3% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 48,075 shares of the aerospace company’s stock valued at $9,883,000 after acquiring an additional 2,863 shares during the period. ProVise Management Group LLC grew its stake in General Dynamics by 2.9% in the third quarter. ProVise Management Group LLC now owns 13,064 shares of the aerospace company’s stock valued at $2,686,000 after acquiring an additional 365 shares during the period. Autus Asset Management LLC grew its stake in General Dynamics by 4.2% in the third quarter. Autus Asset Management LLC now owns 23,992 shares of the aerospace company’s stock valued at $4,933,000 after acquiring an additional 973 shares during the period. Finally, Pacer Advisors Inc. grew its stake in General Dynamics by 10.1% in the third quarter. Pacer Advisors Inc. now owns 5,945 shares of the aerospace company’s stock valued at $1,222,000 after acquiring an additional 546 shares during the period. Institutional investors own 86.87% of the company’s stock.
A number of research firms have issued reports on GD. Jefferies Group reissued a “buy” rating on shares of General Dynamics in a research note on Friday, August 11th. ValuEngine cut General Dynamics from a “buy” rating to a “hold” rating in a research note on Tuesday, October 3rd. Deutsche Bank reaffirmed a “hold” rating and set a $210.00 price objective (up from $200.00) on shares of General Dynamics in a research report on Monday, October 2nd. Citigroup reaffirmed a “neutral” rating and set a $210.00 price objective (up from $207.00) on shares of General Dynamics in a research report on Friday, August 11th. Finally, Zacks Investment Research raised General Dynamics from a “hold” rating to a “buy” rating and set a $238.00 price objective for the company in a research report on Thursday, October 26th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and nine have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $218.45.
In other news, VP Gregory S. Gallopoulos sold 78,370 shares of the company’s stock in a transaction that occurred on Monday, November 6th. The stock was sold at an average price of $202.93, for a total value of $15,903,624.10. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider John Patrick Casey sold 34,945 shares of the company’s stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $201.38, for a total value of $7,037,224.10. Following the completion of the transaction, the insider now directly owns 144,378 shares in the company, valued at approximately $29,074,841.64. The disclosure for this sale can be found here. 6.70% of the stock is owned by corporate insiders.
Shares of General Dynamics Corporation (GD) opened at $200.17 on Friday. The company has a current ratio of 1.37, a quick ratio of 0.93 and a debt-to-equity ratio of 0.34. The stock has a market capitalization of $59,900.00, a PE ratio of 19.85, a P/E/G ratio of 2.40 and a beta of 0.72. General Dynamics Corporation has a twelve month low of $168.00 and a twelve month high of $214.81.
General Dynamics (NYSE:GD) last released its quarterly earnings data on Wednesday, October 25th. The aerospace company reported $2.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.43 by $0.09. The firm had revenue of $7.58 billion for the quarter, compared to analyst estimates of $7.94 billion. General Dynamics had a return on equity of 27.98% and a net margin of 9.94%. The business’s revenue for the quarter was down 1.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.36 earnings per share. analysts expect that General Dynamics Corporation will post 9.81 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 9th. Shareholders of record on Friday, January 19th will be paid a $0.84 dividend. The ex-dividend date is Thursday, January 18th. This represents a $3.36 annualized dividend and a yield of 1.68%. General Dynamics’s dividend payout ratio is 33.37%.
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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