Sumitomo Mitsui Trust Holdings Inc. grew its stake in shares of General Dynamics Co. (NYSE:GD) by 0.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 992,190 shares of the aerospace company’s stock after acquiring an additional 457 shares during the period. Sumitomo Mitsui Trust Holdings Inc.’s holdings in General Dynamics were worth $167,958,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of GD. Man Group plc lifted its stake in shares of General Dynamics by 31.7% in the third quarter. Man Group plc now owns 1,712 shares of the aerospace company’s stock worth $351,000 after buying an additional 412 shares in the last quarter. Morgan Stanley raised its stake in General Dynamics by 1.7% during the third quarter. Morgan Stanley now owns 916,988 shares of the aerospace company’s stock worth $187,727,000 after purchasing an additional 15,746 shares during the period. Vanguard Group Inc increased its position in shares of General Dynamics by 1.7% during the third quarter. Vanguard Group Inc now owns 20,905,951 shares of the aerospace company’s stock valued at $4,279,866,000 after acquiring an additional 357,032 shares during the last quarter. Virtu Financial LLC increased its position in shares of General Dynamics by 50.3% during the fourth quarter. Virtu Financial LLC now owns 5,004 shares of the aerospace company’s stock valued at $787,000 after acquiring an additional 1,675 shares during the last quarter. Finally, Bell Asset Management Ltd grew its holdings in shares of General Dynamics by 24.3% in the fourth quarter. Bell Asset Management Ltd now owns 24,172 shares of the aerospace company’s stock valued at $3,800,000 after purchasing an additional 4,727 shares in the last quarter. Hedge funds and other institutional investors own 86.41% of the company’s stock.
GD stock traded up $1.52 on Tuesday, hitting $170.81. The company’s stock had a trading volume of 28,878 shares, compared to its average volume of 1,376,361. General Dynamics Co. has a 1 year low of $143.87 and a 1 year high of $208.88. The company has a market cap of $48.06 billion, a price-to-earnings ratio of 14.96, a price-to-earnings-growth ratio of 1.59 and a beta of 1.13. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.23 and a quick ratio of 0.82.
General Dynamics (NYSE:GD) last posted its quarterly earnings results on Wednesday, April 24th. The aerospace company reported $2.56 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.38 by $0.18. General Dynamics had a net margin of 8.68% and a return on equity of 27.62%. The business had revenue of $9.26 billion for the quarter, compared to analysts’ expectations of $8.90 billion. During the same period in the prior year, the company posted $2.65 EPS. The business’s revenue for the quarter was up 22.9% on a year-over-year basis. As a group, analysts anticipate that General Dynamics Co. will post 11.74 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, May 10th. Stockholders of record on Friday, April 12th were paid a dividend of $1.02 per share. The ex-dividend date was Thursday, April 11th. This is a boost from General Dynamics’s previous quarterly dividend of $0.93. This represents a $4.08 dividend on an annualized basis and a dividend yield of 2.39%. General Dynamics’s dividend payout ratio is 35.73%.
In related news, EVP John Patrick Casey sold 45,470 shares of the firm’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $172.46, for a total value of $7,841,756.20. Following the transaction, the executive vice president now owns 148,133 shares in the company, valued at $25,547,017.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Gary L. Whited sold 14,640 shares of the firm’s stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $165.38, for a total transaction of $2,421,163.20. Following the completion of the transaction, the vice president now owns 30,462 shares in the company, valued at approximately $5,037,805.56. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 64,690 shares of company stock worth $11,052,603. Corporate insiders own 7.10% of the company’s stock.
A number of research analysts recently weighed in on GD shares. Zacks Investment Research cut shares of General Dynamics from a “hold” rating to a “sell” rating in a report on Friday, March 1st. JPMorgan Chase & Co. upgraded shares of General Dynamics from an “underweight” rating to a “neutral” rating and boosted their price target for the stock from $188.00 to $200.00 in a report on Thursday, April 25th. They noted that the move was a valuation call. Sanford C. Bernstein lowered their price target on shares of General Dynamics from $186.00 to $178.00 and set a “market perform” rating for the company in a report on Monday, February 4th. Credit Suisse Group cut shares of General Dynamics from an “outperform” rating to a “neutral” rating and lowered their price target for the stock from $190.00 to $184.00 in a report on Friday, February 15th. Finally, UBS Group boosted their price target on shares of General Dynamics from $175.00 to $190.00 and gave the stock a “neutral” rating in a report on Thursday, April 25th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and seven have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $198.16.
General Dynamics Company Profile
General Dynamics Corporation operates as an aerospace and defense company worldwide. It operates in five segments: Aerospace, Combat Systems, Information Technology, Mission Systems, and Marine Systems. The Aerospace segment designs, manufactures, and supports business-jet aircraft; and offers business-aviation services, including maintenance, fixed-base operation, government fleet, aircraft management, charter, and staffing services, as well as integrated aviation solutions.
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