Corient Private Wealth LLC raised its stake in shares of General Dynamics Co. (NYSE:GD - Free Report) by 5.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 114,661 shares of the aerospace company's stock after purchasing an additional 5,765 shares during the quarter. Corient Private Wealth LLC's holdings in General Dynamics were worth $29,883,000 as of its most recent filing with the SEC.
A number of other large investors have also made changes to their positions in the stock. Wellington Management Group LLP increased its stake in General Dynamics by 0.8% during the third quarter. Wellington Management Group LLP now owns 14,205,330 shares of the aerospace company's stock valued at $4,292,851,000 after acquiring an additional 109,618 shares during the period. State Street Corp increased its position in shares of General Dynamics by 9.4% during the third quarter. State Street Corp now owns 10,945,110 shares of the aerospace company's stock valued at $3,307,612,000 after purchasing an additional 943,247 shares during the period. Massachusetts Financial Services Co. MA raised its stake in shares of General Dynamics by 2.5% in the third quarter. Massachusetts Financial Services Co. MA now owns 7,829,662 shares of the aerospace company's stock valued at $2,366,124,000 after purchasing an additional 189,904 shares in the last quarter. Geode Capital Management LLC lifted its position in General Dynamics by 13.0% in the third quarter. Geode Capital Management LLC now owns 5,557,404 shares of the aerospace company's stock worth $1,674,998,000 after purchasing an additional 638,342 shares during the period. Finally, FMR LLC boosted its stake in General Dynamics by 0.5% during the third quarter. FMR LLC now owns 4,940,537 shares of the aerospace company's stock worth $1,493,030,000 after buying an additional 24,464 shares in the last quarter. Institutional investors and hedge funds own 86.14% of the company's stock.
General Dynamics Price Performance
Shares of GD stock traded down $2.40 during trading hours on Friday, reaching $263.30. 3,313,599 shares of the company were exchanged, compared to its average volume of 1,248,889. General Dynamics Co. has a fifty-two week low of $239.87 and a fifty-two week high of $316.90. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.37 and a quick ratio of 0.82. The stock's fifty day moving average is $258.42 and its two-hundred day moving average is $278.16. The company has a market cap of $71.18 billion, a price-to-earnings ratio of 19.30, a P/E/G ratio of 1.69 and a beta of 0.59.
General Dynamics (NYSE:GD - Get Free Report) last posted its quarterly earnings data on Wednesday, January 29th. The aerospace company reported $4.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.29 by ($0.14). General Dynamics had a return on equity of 17.10% and a net margin of 7.93%. Sell-side analysts forecast that General Dynamics Co. will post 14.83 earnings per share for the current fiscal year.
General Dynamics Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 9th. Investors of record on Friday, April 11th will be given a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a yield of 2.28%. This is a positive change 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 announced that its Board of Directors has approved a share repurchase plan on Wednesday, December 4th that authorizes the company to repurchase 10,000,000 shares. This repurchase authorization authorizes the aerospace company to purchase shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company's board of directors believes its stock is undervalued.
Wall Street Analyst Weigh In
A number of equities analysts have recently commented on GD shares. Vertical Research downgraded shares of General Dynamics from a "buy" rating to a "hold" rating and reduced their price objective for the stock from $352.00 to $290.00 in a report on Monday, January 6th. Deutsche Bank Aktiengesellschaft cut their price target on shares of General Dynamics from $303.00 to $295.00 and set a "hold" rating for the company in a research note on Thursday, January 2nd. TD Cowen lowered their price objective on General Dynamics from $315.00 to $295.00 in a research note on Tuesday, January 28th. William Blair downgraded General Dynamics from an "outperform" rating to a "market perform" rating in a research report on Friday, February 21st. Finally, Jefferies Financial Group reiterated a "hold" rating and issued a $300.00 price target (down from $345.00) on shares of General Dynamics in a research report on Thursday, December 12th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, General Dynamics has a consensus rating of "Hold" and an average price target of $297.71.
Check Out Our Latest Analysis on GD
Insiders Place Their Bets
In other General Dynamics news, Director Laura J. Schumacher sold 1,796 shares of General Dynamics stock in a transaction on Friday, January 31st. The shares were sold at an average price of $255.68, for a total transaction of $459,201.28. Following the completion of the sale, the director now owns 11,175 shares of the company's stock, valued at approximately $2,857,224. The trade was a 13.85 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Marguerite Amy Gilliland sold 27,562 shares of the stock in a transaction on Monday, March 10th. The shares were sold at an average price of $272.11, for a total value of $7,499,895.82. Following the completion of the transaction, the senior vice president now directly owns 45,192 shares in the company, valued at approximately $12,297,195.12. This trade represents a 37.88 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.52% of the company's stock.
About General Dynamics
(
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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