Boston Partners decreased its holdings in shares of General Dynamics Co. (NYSE:GD - Free Report) by 16.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,201,960 shares of the aerospace company's stock after selling 233,773 shares during the quarter. Boston Partners owned approximately 0.44% of General Dynamics worth $317,064,000 as of its most recent SEC filing.
Several other hedge funds also recently modified their holdings of GD. United Bank increased its stake in shares of General Dynamics by 4.0% during the 3rd quarter. United Bank now owns 5,776 shares of the aerospace company's stock worth $1,746,000 after purchasing an additional 224 shares during the last quarter. Empowered Funds LLC increased its stake in shares of General Dynamics by 3.6% during the 3rd quarter. Empowered Funds LLC now owns 8,406 shares of the aerospace company's stock worth $2,540,000 after purchasing an additional 292 shares during the last quarter. Mutual of America Capital Management LLC increased its stake in shares of General Dynamics by 10.7% during the 3rd quarter. Mutual of America Capital Management LLC now owns 31,711 shares of the aerospace company's stock worth $9,583,000 after purchasing an additional 3,073 shares during the last quarter. Swiss National Bank increased its stake in shares of General Dynamics by 0.4% during the 3rd quarter. Swiss National Bank now owns 692,146 shares of the aerospace company's stock worth $209,167,000 after purchasing an additional 2,600 shares during the last quarter. Finally, Richard C. Young & CO. LTD. increased its stake in shares of General Dynamics by 2.1% during the 3rd quarter. Richard C. Young & CO. LTD. now owns 38,782 shares of the aerospace company's stock worth $11,720,000 after purchasing an additional 799 shares during the last quarter. Institutional investors and hedge funds own 86.14% of the company's stock.
Insider Transactions at General Dynamics
In related news, SVP Marguerite Amy Gilliland sold 27,562 shares of General Dynamics stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $272.11, for a total transaction of $7,499,895.82. Following the completion of the transaction, the senior vice president now directly owns 45,192 shares of the company's stock, valued at $12,297,195.12. This trade represents a 37.88 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Laura J. Schumacher sold 1,796 shares of General Dynamics stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $255.68, for a total transaction of $459,201.28. Following the transaction, the director now directly owns 11,175 shares of the company's stock, valued at $2,857,224. This represents a 13.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.52% of the stock is owned by insiders.
Analysts Set New Price Targets
A number of research analysts recently issued reports on GD shares. Wolfe Research lowered shares of General Dynamics from an "outperform" rating to a "peer perform" rating in a research note on Wednesday, December 11th. Jefferies Financial Group reiterated a "hold" rating and issued a $300.00 target price (down from $345.00) on shares of General Dynamics in a research note on Thursday, December 12th. Royal Bank of Canada lowered their target price on shares of General Dynamics from $290.00 to $280.00 and set a "sector perform" rating on the stock in a research note on Thursday, January 30th. UBS Group lowered their target price on shares of General Dynamics from $337.00 to $281.00 and set a "neutral" rating on the stock in a research note on Tuesday, January 28th. Finally, Barclays lowered their target price on shares of General Dynamics from $305.00 to $285.00 and set an "overweight" rating on the stock in a research note on Tuesday, February 4th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $297.71.
Check Out Our Latest Research Report on GD
General Dynamics Price Performance
Shares of NYSE:GD traded down $2.40 during midday trading on Friday, reaching $263.30. 3,313,608 shares of the company's stock were exchanged, compared to its average volume of 1,248,440. The company's 50 day simple moving average is $258.50 and its two-hundred day simple moving average is $277.91. The firm has a market capitalization of $71.18 billion, a PE ratio of 19.30, a price-to-earnings-growth ratio of 1.69 and a beta of 0.59. General Dynamics Co. has a 12 month low of $239.87 and a 12 month high of $316.90. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.82 and a current ratio of 1.37.
General Dynamics (NYSE:GD - Get Free Report) last released its quarterly earnings data on Wednesday, January 29th. The aerospace company reported $4.15 EPS for the quarter, missing analysts' consensus estimates of $4.29 by ($0.14). General Dynamics had a return on equity of 17.10% and a net margin of 7.93%. Equities research analysts expect that General Dynamics Co. will post 14.83 earnings per share for the current fiscal year.
General Dynamics declared that its Board of Directors has authorized a share buyback program on Wednesday, December 4th that authorizes the company to repurchase 10,000,000 shares. This repurchase authorization authorizes the aerospace company to repurchase shares of its stock through open market purchases. Shares repurchase programs are usually an indication that the company's management believes its stock is undervalued.
General Dynamics Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 9th. Stockholders of record on Friday, April 11th will be issued a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.28%. This is an increase from General Dynamics's previous quarterly dividend of $1.42. The ex-dividend date is Friday, April 11th. General Dynamics's dividend payout ratio (DPR) is presently 43.99%.
General Dynamics Company Profile
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Free Report)
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 produces and sells business jets; and offers aircraft maintenance and repair, management, aircraft-on-ground support and completion, charter, staffing, and fixed-base operator services.
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