Empire Life Investments Inc. boosted its holdings in General Dynamics Co. (NYSE:GD) by 0.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 105,197 shares of the aerospace company’s stock after purchasing an additional 950 shares during the quarter. General Dynamics makes up 1.7% of Empire Life Investments Inc.’s portfolio, making the stock its 23rd biggest holding. Empire Life Investments Inc.’s holdings in General Dynamics were worth $21,402,000 as of its most recent SEC filing.
A number of other hedge funds have also recently bought and sold shares of the business. Highlander Capital Management LLC boosted its position in shares of General Dynamics by 101.4% in the fourth quarter. Highlander Capital Management LLC now owns 596 shares of the aerospace company’s stock worth $121,000 after buying an additional 300 shares during the period. Resources Investment Advisors Inc. boosted its position in shares of General Dynamics by 92.3% in the fourth quarter. Resources Investment Advisors Inc. now owns 625 shares of the aerospace company’s stock worth $127,000 after buying an additional 300 shares during the period. NuWave Investment Management LLC purchased a new stake in shares of General Dynamics in the fourth quarter worth about $130,000. Prime Capital Investment Advisors LLC purchased a new stake in shares of General Dynamics in the fourth quarter worth about $134,000. Finally, Fieldpoint Private Securities LLC purchased a new stake in shares of General Dynamics in the third quarter worth about $148,000. 93.41% of the stock is owned by hedge funds and other institutional investors.
Shares of General Dynamics Co. (NYSE GD) opened at $229.95 on Monday. General Dynamics Co. has a one year low of $183.72 and a one year high of $230.00. The stock has a market capitalization of $68,279.88, a P/E ratio of 23.11, a price-to-earnings-growth ratio of 2.44 and a beta of 0.83. The company has a current ratio of 1.40, a quick ratio of 0.99 and a debt-to-equity ratio of 0.35.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 11th. Shareholders of record on Friday, April 13th will be paid a dividend of $0.93 per share. The ex-dividend date of this dividend is Thursday, April 12th. This represents a $3.72 annualized dividend and a yield of 1.62%. This is a boost from General Dynamics’s previous quarterly dividend of $0.84. General Dynamics’s dividend payout ratio is presently 35.18%.
Several equities research analysts have recently weighed in on the company. Bank of America upped their target price on General Dynamics from $245.00 to $260.00 and gave the stock a “buy” rating in a research report on Thursday, January 25th. Sanford C. Bernstein reaffirmed a “market perform” rating and issued a $237.00 target price (up previously from $218.00) on shares of General Dynamics in a research report on Thursday, January 25th. Buckingham Research reaffirmed a “buy” rating and issued a $260.00 target price (up previously from $230.00) on shares of General Dynamics in a research report on Tuesday, January 30th. Zacks Investment Research raised General Dynamics from a “hold” rating to a “buy” rating and set a $252.00 price target for the company in a report on Friday, February 2nd. Finally, Royal Bank of Canada increased their price target on General Dynamics to $267.00 and gave the company an “outperform” rating in a report on Tuesday, February 20th. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and fourteen have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $235.88.
In other General Dynamics news, insider John Patrick Casey sold 9,304 shares of the company’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $215.29, for a total transaction of $2,003,058.16. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director John M. Keane sold 1,800 shares of the stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $216.43, for a total value of $389,574.00. The disclosure for this sale can be found here. Insiders have sold 22,291 shares of company stock worth $4,884,592 in the last 90 days. 6.70% of the stock is currently owned by insiders.
About General Dynamics
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.
Receive News & Ratings for General Dynamics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for General Dynamics and related companies with MarketBeat.com's FREE daily email newsletter.