HBK Investments L P purchased a new stake in General Dynamics Co. (NYSE:GD) during the fourth quarter, according to the company in its most recent filing with the SEC. The firm purchased 51,000 shares of the aerospace company’s stock, valued at approximately $10,376,000.
Several other institutional investors and hedge funds also recently made changes to their positions in the business. Stonebridge Capital Management Inc. lifted its holdings in shares of General Dynamics by 0.7% during the 4th quarter. Stonebridge Capital Management Inc. now owns 32,173 shares of the aerospace company’s stock valued at $6,776,000 after acquiring an additional 223 shares in the last quarter. Advisor Partners LLC lifted its holdings in shares of General Dynamics by 4.4% during the 4th quarter. Advisor Partners LLC now owns 5,412 shares of the aerospace company’s stock valued at $1,132,000 after acquiring an additional 229 shares in the last quarter. Royce & Associates LP lifted its holdings in shares of General Dynamics by 1.0% during the 3rd quarter. Royce & Associates LP now owns 24,750 shares of the aerospace company’s stock valued at $5,088,000 after acquiring an additional 250 shares in the last quarter. Clear Perspective Advisors LLC lifted its holdings in shares of General Dynamics by 8.1% during the 4th quarter. Clear Perspective Advisors LLC now owns 3,355 shares of the aerospace company’s stock valued at $683,000 after acquiring an additional 252 shares in the last quarter. Finally, FTB Advisors Inc. lifted its holdings in shares of General Dynamics by 4.1% during the 4th quarter. FTB Advisors Inc. now owns 6,481 shares of the aerospace company’s stock valued at $1,318,000 after acquiring 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 business’s stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $216.43, for a total value of $389,574.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP John Patrick Casey sold 4,133 shares of General Dynamics stock in a transaction dated Thursday, March 8th. The shares were sold at an average price of $225.27, for a total transaction of $931,040.91. Following the completion of the transaction, the executive vice president now directly owns 96,055 shares of the company’s stock, valued at $21,638,309.85. The disclosure for this sale can be found here. Insiders sold a total of 30,357 shares of company stock valued at $6,715,463 in the last three months. Insiders own 6.70% of the company’s stock.
General Dynamics (NYSE:GD) last released its earnings results on Wednesday, January 24th. The aerospace company reported $2.50 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.37 by $0.13. The company had revenue of $8.28 billion during the quarter, compared to the consensus estimate 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 was up 8.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.89 EPS. equities research analysts forecast that General Dynamics Co. will post 11.09 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, May 11th. Stockholders of record on Friday, April 13th will be given a $0.93 dividend. The ex-dividend date of this dividend is Thursday, April 12th. This represents a $3.72 annualized dividend and a dividend yield of 1.67%. This is an increase from General Dynamics’s previous quarterly dividend of $0.84. General Dynamics’s payout ratio is presently 35.18%.
Several equities analysts recently weighed in on GD shares. JPMorgan Chase & Co. lowered shares of General Dynamics from a “neutral” rating to an “underweight” rating and reduced their target price for the company from $225.00 to $215.00 in a report on Tuesday, December 12th. Zacks Investment Research lowered shares of General Dynamics from a “hold” rating to a “sell” rating in a report on Tuesday, December 26th. Royal Bank of Canada set a $239.00 target price on shares of General Dynamics and gave the company a “buy” rating in a report on Wednesday, November 15th. Argus raised shares of General Dynamics to a “buy” rating and lifted their price target for the stock from $230.00 to $250.00 in a research note on Tuesday, January 30th. Finally, ValuEngine downgraded shares of General Dynamics from a “buy” rating to a “hold” rating in a research note on Thursday, November 30th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and thirteen have issued a buy rating to the stock. General Dynamics currently has a consensus rating of “Hold” and an average price target of $235.88.
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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.
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