Raymond James & Associates lifted its stake in shares of General Dynamics Co. (NYSE:GD) by 4.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 228,313 shares of the aerospace company’s stock after buying an additional 9,866 shares during the quarter. Raymond James & Associates owned about 0.08% of General Dynamics worth $46,451,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Stonebridge Capital Management Inc. boosted its stake in General Dynamics by 0.7% during the fourth quarter. Stonebridge Capital Management Inc. now owns 32,173 shares of the aerospace company’s stock worth $6,776,000 after acquiring an additional 223 shares in the last quarter. Advisor Partners LLC boosted its stake in General Dynamics by 4.4% during the fourth quarter. Advisor Partners LLC now owns 5,412 shares of the aerospace company’s stock worth $1,132,000 after acquiring an additional 229 shares in the last quarter. Royce & Associates LP boosted its stake in General Dynamics by 1.0% during the third quarter. Royce & Associates LP now owns 24,750 shares of the aerospace company’s stock worth $5,088,000 after acquiring an additional 250 shares in the last quarter. Clear Perspective Advisors LLC boosted its stake in General Dynamics by 8.1% during the fourth quarter. Clear Perspective Advisors LLC now owns 3,355 shares of the aerospace company’s stock worth $683,000 after acquiring an additional 252 shares in the last quarter. Finally, FTB Advisors Inc. lifted its stake in shares of General Dynamics by 4.1% in the fourth quarter. FTB Advisors Inc. now owns 6,481 shares of the aerospace company’s stock worth $1,318,000 after buying an additional 258 shares in the last quarter. Institutional investors own 93.41% of the company’s stock.
In other news, Director John M. Keane sold 1,800 shares of the stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $216.43, for a total value of $389,574.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider S. Daniel Johnson sold 3,933 shares of the stock in a transaction on Friday, March 9th. The stock was sold at an average price of $228.79, for a total transaction of $899,831.07. Following the completion of the sale, the insider now directly owns 66,363 shares of the company’s stock, valued at $15,183,190.77. The disclosure for this sale can be found here. Over the last three months, insiders sold 30,357 shares of company stock valued at $6,715,463. Corporate insiders own 6.70% of the company’s stock.
General Dynamics (NYSE:GD) last announced its quarterly earnings data on Wednesday, January 24th. The aerospace company reported $2.50 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.37 by $0.13. The firm had revenue of $8.28 billion during the quarter, compared to analysts’ expectations of $8.40 billion. General Dynamics had a net margin of 9.40% and a return on equity of 27.22%. The company’s revenue for the quarter was up 8.1% compared to the same quarter last year. During the same period in the prior year, the company posted $1.89 earnings per share. equities research analysts predict that General Dynamics Co. will post 11.09 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 11th. Stockholders of record on Friday, April 13th will be paid a $0.93 dividend. The ex-dividend date is Thursday, April 12th. This is a boost from General Dynamics’s previous quarterly dividend of $0.84. This represents a $3.72 dividend on an annualized basis and a dividend yield of 1.67%. General Dynamics’s dividend payout ratio is 35.18%.
Several research analysts have recently issued reports on the stock. Bank of America upped their target price on shares of General Dynamics from $245.00 to $260.00 and gave the stock a “buy” rating in a research note on Thursday, January 25th. Sanford C. Bernstein reiterated a “market perform” rating and issued a $237.00 target price (up previously from $218.00) on shares of General Dynamics in a research note on Thursday, January 25th. Zacks Investment Research downgraded shares of General Dynamics from a “buy” rating to a “hold” rating in a research note on Monday. Buckingham Research reiterated a “buy” rating and issued a $260.00 target price (up previously from $230.00) on shares of General Dynamics in a research note on Tuesday, January 30th. Finally, Royal Bank of Canada upped their target price on shares of General Dynamics to $267.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 20th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and thirteen have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $235.88.
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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