Asset Management One Co. Ltd. Decreases Holdings in General Dynamics Co. (NYSE:GD)

Asset Management One Co. Ltd. trimmed its position in General Dynamics Co. (NYSE:GD – Get Rating) by 1.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 102,820 shares of the aerospace company’s stock after selling 1,301 shares during the quarter. Asset Management One Co. Ltd.’s holdings in General Dynamics were worth $21,815,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Massachusetts Financial Services Co. MA increased its position in General Dynamics by 103.6% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 4,544,906 shares of the aerospace company’s stock valued at $1,005,561,000 after purchasing an additional 2,312,118 shares during the period. Northern Trust Corp boosted its stake in General Dynamics by 4.3% in the 2nd quarter. Northern Trust Corp now owns 2,430,036 shares of the aerospace company’s stock worth $537,646,000 after purchasing an additional 100,963 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in General Dynamics by 31.5% in the 2nd quarter. Goldman Sachs Group Inc. now owns 1,411,406 shares of the aerospace company’s stock worth $312,273,000 after purchasing an additional 337,999 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in General Dynamics by 2.3% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,288,469 shares of the aerospace company’s stock worth $310,753,000 after purchasing an additional 29,013 shares in the last quarter. Finally, Legal & General Group Plc boosted its stake in General Dynamics by 1.4% in the 2nd quarter. Legal & General Group Plc now owns 1,256,450 shares of the aerospace company’s stock worth $277,990,000 after purchasing an additional 16,871 shares in the last quarter. 84.83% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on GD shares. StockNews.com upgraded shares of General Dynamics from a “buy” rating to a “strong-buy” rating in a research note on Tuesday. Cowen boosted their target price on General Dynamics from $260.00 to $285.00 in a research report on Tuesday, January 3rd. Royal Bank of Canada boosted their target price on General Dynamics from $270.00 to $275.00 in a research report on Thursday, October 27th. Citigroup started coverage on General Dynamics in a research report on Thursday, December 8th. They issued a “buy” rating and a $298.00 target price for the company. Finally, Cowen upped their price target on shares of General Dynamics to $260.00 in a research report on Thursday, October 27th. Two investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, General Dynamics currently has a consensus rating of “Moderate Buy” and a consensus target price of $273.64.

General Dynamics Stock Up 1.3 %

NYSE GD opened at $235.45 on Wednesday. The company has a market capitalization of $64.64 billion, a P/E ratio of 19.60, a P/E/G ratio of 1.95 and a beta of 0.88. The stock has a 50 day moving average price of $246.64 and a 200-day moving average price of $236.41. General Dynamics Co. has a one year low of $200.79 and a one year high of $256.86. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.94 and a current ratio of 1.34.

General Dynamics (NYSE:GD – Get Rating) last issued its quarterly earnings results on Wednesday, October 26th. The aerospace company reported $3.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.16 by $0.10. General Dynamics had a return on equity of 18.96% and a net margin of 8.62%. The company had revenue of $9.98 billion during the quarter, compared to the consensus estimate of $9.93 billion. During the same period last year, the company earned $3.07 earnings per share. General Dynamics’s revenue was up 4.3% on a year-over-year basis. As a group, equities analysts predict that General Dynamics Co. will post 12.14 EPS for the current fiscal year.

General Dynamics Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 10th. Shareholders of record on Friday, January 20th will be paid a $1.26 dividend. The ex-dividend date of this dividend is Thursday, January 19th. This represents a $5.04 dividend on an annualized basis and a yield of 2.14%. General Dynamics’s payout ratio is 41.97%.

General Dynamics Profile

(Get Rating)

General Dynamics Corporation operates as an aerospace and defense company worldwide. It operates through four segments: Aerospace, Marine Systems, Combat Systems, and Technologies. The Aerospace segment designs, manufactures, and sells business jets; and offers aircraft maintenance and repair, management, charter, aircraft-on-ground support and completion, staffing, and fixed-base operator services.