Bank of Montreal Can boosted its holdings in shares of General Dynamics Co. (NYSE:GD) by 5.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,457,366 shares of the aerospace company’s stock after purchasing an additional 68,784 shares during the quarter. Bank of Montreal Can owned about 0.49% of General Dynamics worth $298,353,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also modified their holdings of the stock. Element Capital Management LLC bought a new stake in General Dynamics in the 1st quarter worth approximately $472,000. Ancora Advisors LLC increased its stake in General Dynamics by 11.6% in the 1st quarter. Ancora Advisors LLC now owns 12,147 shares of the aerospace company’s stock worth $2,684,000 after acquiring an additional 1,260 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. increased its stake in General Dynamics by 5.6% in the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 30,031 shares of the aerospace company’s stock worth $6,626,000 after acquiring an additional 1,599 shares during the last quarter. Hilton Capital Management LLC bought a new stake in General Dynamics in the 1st quarter worth approximately $482,000. Finally, Cubist Systematic Strategies LLC increased its stake in General Dynamics by 51.9% in the 1st quarter. Cubist Systematic Strategies LLC now owns 15,532 shares of the aerospace company’s stock worth $3,431,000 after acquiring an additional 5,310 shares during the last quarter. 85.41% of the stock is currently owned by institutional investors.
In other General Dynamics news, insider John Patrick Casey sold 22,500 shares of the company’s stock in a transaction on Monday, July 16th. The stock was sold at an average price of $191.99, for a total value of $4,319,775.00. Following the completion of the sale, the insider now directly owns 118,555 shares in the company, valued at approximately $22,761,374.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider S. Daniel Johnson sold 77,810 shares of the company’s stock in a transaction on Friday, September 14th. The stock was sold at an average price of $199.85, for a total value of $15,550,328.50. Following the completion of the sale, the insider now owns 99,333 shares of the company’s stock, valued at $19,851,700.05. The disclosure for this sale can be found here. 6.90% of the stock is owned by insiders.
Several equities analysts have recently weighed in on GD shares. Zacks Investment Research downgraded General Dynamics from a “hold” rating to a “sell” rating in a research report on Wednesday. Drexel Hamilton reissued a “buy” rating and set a $230.00 target price on shares of General Dynamics in a research report on Thursday, August 16th. UBS Group started coverage on General Dynamics in a research report on Wednesday, August 15th. They set a “neutral” rating and a $210.00 target price on the stock. Bank of America set a $275.00 target price on General Dynamics and gave the company a “buy” rating in a research report on Tuesday, July 31st. Finally, ValuEngine raised General Dynamics from a “sell” rating to a “hold” rating in a research report on Saturday, July 28th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and ten have given a buy rating to the stock. General Dynamics currently has a consensus rating of “Hold” and an average target price of $241.12.
GD traded down $0.77 during trading hours on Friday, reaching $192.17. 117,741 shares of the company’s stock traded hands, compared to its average volume of 1,508,224. General Dynamics Co. has a 52-week low of $184.21 and a 52-week high of $230.00. The company has a quick ratio of 0.84, a current ratio of 1.20 and a debt-to-equity ratio of 0.95. The stock has a market cap of $60.81 billion, a P/E ratio of 19.43, a PEG ratio of 1.64 and a beta of 0.77.
General Dynamics (NYSE:GD) last posted its quarterly earnings data on Wednesday, July 25th. The aerospace company reported $2.82 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.49 by $0.33. General Dynamics had a return on equity of 27.06% and a net margin of 9.16%. The company had revenue of $9.19 billion during the quarter, compared to analysts’ expectations of $9.09 billion. During the same quarter in the previous year, the business earned $2.45 EPS. General Dynamics’s revenue was up 19.7% compared to the same quarter last year. Equities analysts anticipate that General Dynamics Co. will post 11.22 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 9th. Investors of record on Friday, October 5th will be issued a dividend of $0.93 per share. This represents a $3.72 dividend on an annualized basis and a yield of 1.94%. The ex-dividend date is Thursday, October 4th. General Dynamics’s payout ratio is currently 37.39%.
General Dynamics Profile
General Dynamics Corporation operates as an aerospace and defense company worldwide. It operates through four business groups: Aerospace; Combat Systems; Information Systems and Technology; and Marine Systems. The Aerospace group designs, develops, manufactures, service and supports business-jet aircraft; and provides aircraft services, such as maintenance, aircraft management, charter, fixed-base operational, and staffing services.
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