Raymond James Trust N.A. lifted its position in General Dynamics Co. (NYSE:GD) by 3.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,677 shares of the aerospace company’s stock after acquiring an additional 782 shares during the period. Raymond James Trust N.A.’s holdings in General Dynamics were worth $3,555,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors have also recently modified their holdings of the company. Public Employees Retirement Association of Colorado boosted its stake in General Dynamics by 6.4% during the first quarter. Public Employees Retirement Association of Colorado now owns 46,314 shares of the aerospace company’s stock worth $6,128,000 after buying an additional 2,787 shares during the last quarter. CIBC World Markets Inc. boosted its stake in General Dynamics by 0.8% during the first quarter. CIBC World Markets Inc. now owns 17,973 shares of the aerospace company’s stock worth $2,378,000 after buying an additional 146 shares during the last quarter. Procyon Private Wealth Partners LLC boosted its stake in General Dynamics by 13.7% during the first quarter. Procyon Private Wealth Partners LLC now owns 870 shares of the aerospace company’s stock worth $115,000 after buying an additional 105 shares during the last quarter. Morgan Stanley boosted its stake in General Dynamics by 4.8% during the first quarter. Morgan Stanley now owns 1,118,194 shares of the aerospace company’s stock worth $147,947,000 after buying an additional 51,292 shares during the last quarter. Finally, Schroder Investment Management Group boosted its stake in General Dynamics by 171.7% during the first quarter. Schroder Investment Management Group now owns 8,564 shares of the aerospace company’s stock worth $1,145,000 after buying an additional 5,412 shares during the last quarter. 84.98% of the stock is currently owned by hedge funds and other institutional investors.
GD stock opened at $142.24 on Friday. The company has a current ratio of 1.27, a quick ratio of 0.87 and a debt-to-equity ratio of 0.75. The company has a market capitalization of $40.81 billion, a PE ratio of 12.63, a P/E/G ratio of 2.52 and a beta of 1.02. General Dynamics Co. has a 12-month low of $100.55 and a 12-month high of $190.08. The business’s fifty day moving average price is $144.54 and its 200 day moving average price is $144.00.
General Dynamics (NYSE:GD) last posted its quarterly earnings data on Wednesday, July 29th. The aerospace company reported $2.18 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.15 by $0.03. The firm had revenue of $9.26 billion for the quarter, compared to the consensus estimate of $9.03 billion. General Dynamics had a return on equity of 24.10% and a net margin of 8.47%. The company’s quarterly revenue was down 3.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.77 EPS. Research analysts predict that General Dynamics Co. will post 11.04 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Friday, October 9th will be issued a $1.10 dividend. The ex-dividend date is Thursday, October 8th. This represents a $4.40 annualized dividend and a dividend yield of 3.09%. General Dynamics’s dividend payout ratio is presently 36.73%.
In other General Dynamics news, VP William A. Moss sold 4,778 shares of the company’s stock in a transaction dated Thursday, September 24th. The stock was sold at an average price of $136.68, for a total transaction of $653,057.04. Following the sale, the vice president now owns 12,241 shares in the company, valued at approximately $1,673,099.88. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 6.60% of the stock is currently owned by insiders.
GD has been the topic of a number of recent research reports. Morgan Stanley initiated coverage on General Dynamics in a research note on Tuesday, September 8th. They set an “underweight” rating and a $163.00 price objective on the stock. Barclays lowered their price objective on General Dynamics from $170.00 to $165.00 and set an “overweight” rating on the stock in a research note on Thursday, October 1st. They noted that the move was a valuation call. ValuEngine lowered General Dynamics from a “hold” rating to a “sell” rating in a research note on Monday, August 3rd. 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. Finally, TheStreet lowered General Dynamics from a “b-” rating to a “c+” rating in a research note on Thursday, July 9th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $173.19.
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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