Raymond James Trust N.A. boosted its stake in shares of General Dynamics Co. (NYSE:GD) by 3.1% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 25,677 shares of the aerospace company’s stock after purchasing an additional 782 shares during the quarter. Raymond James Trust N.A.’s holdings in General Dynamics were worth $3,555,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in GD. The Manufacturers Life Insurance Company boosted its stake in General Dynamics by 594.6% during the first quarter. The Manufacturers Life Insurance Company now owns 1,563,512 shares of the aerospace company’s stock worth $206,868,000 after buying an additional 1,338,415 shares during the last quarter. LSV Asset Management lifted its stake in shares of General Dynamics by 7,755.8% in the 2nd quarter. LSV Asset Management now owns 675,600 shares of the aerospace company’s stock valued at $100,975,000 after purchasing an additional 667,000 shares during the last quarter. Abrams Bison Investments LLC acquired a new position in shares of General Dynamics in the 2nd quarter valued at $49,023,000. Advisor Group Holdings Inc. acquired a new position in shares of General Dynamics in the 1st quarter valued at $11,777,000. Finally, Alyeska Investment Group L.P. acquired a new position in shares of General Dynamics in the 2nd quarter valued at $40,205,000. 84.98% of the stock is currently owned by institutional investors.
Shares of NYSE GD opened at $142.24 on Friday. General Dynamics Co. has a 1-year low of $100.55 and a 1-year high of $190.08. The company has a market cap of $40.81 billion, a price-to-earnings ratio of 12.63, a price-to-earnings-growth ratio of 2.52 and a beta of 1.02. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.27 and a quick ratio of 0.87. The stock’s 50-day moving average is $144.54 and its two-hundred day moving average is $144.00.
General Dynamics (NYSE:GD) last announced its earnings results on Wednesday, July 29th. The aerospace company reported $2.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.15 by $0.03. General Dynamics had a return on equity of 24.10% and a net margin of 8.47%. The firm had revenue of $9.26 billion during the quarter, compared to analysts’ expectations of $9.03 billion. During the same period in the prior year, the firm earned $2.77 EPS. The business’s revenue was down 3.0% on a year-over-year basis. Equities research analysts anticipate that General Dynamics Co. will post 11.04 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 13th. Shareholders of record on Friday, October 9th will be given a dividend of $1.10 per share. The ex-dividend date is Thursday, October 8th. This represents a $4.40 dividend on an annualized basis and a yield of 3.09%. General Dynamics’s payout ratio is 36.73%.
Several equities analysts have recently commented on GD shares. Robert W. Baird lowered General Dynamics from an “outperform” rating to a “neutral” rating and decreased their price target for the company from $167.00 to $149.00 in a research note on Friday, October 2nd. Jefferies Financial Group reaffirmed a “hold” rating and issued a $160.00 price target on shares of General Dynamics in a research note on Tuesday, August 11th. Stifel Nicolaus decreased their price target on General Dynamics from $180.00 to $160.00 and set a “hold” rating on the stock in a research note on Thursday, July 30th. TheStreet downgraded General Dynamics from a “b-” rating to a “c+” rating in a report on Thursday, July 9th. Finally, Royal Bank of Canada boosted their price objective on General Dynamics from $157.00 to $164.00 and gave the company an “outperform” rating in a report on Thursday, July 30th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $173.19.
In other news, VP William A. Moss sold 4,778 shares of the firm’s stock in a transaction that occurred on Thursday, September 24th. The stock was sold at an average price of $136.68, for a total value of $653,057.04. Following the completion of the sale, the vice president now directly owns 12,241 shares of the company’s stock, valued at approximately $1,673,099.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 6.60% of the stock is currently owned by company insiders.
About General Dynamics
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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