United Bank raised its holdings in shares of General Dynamics Co. (NYSE:GD - Free Report) by 21.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,992 shares of the aerospace company's stock after acquiring an additional 1,216 shares during the quarter. United Bank's holdings in General Dynamics were worth $1,842,000 at the end of the most recent quarter.
Other large investors also recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in General Dynamics by 3.1% during the fourth quarter. Vanguard Group Inc. now owns 23,780,078 shares of the aerospace company's stock valued at $6,265,813,000 after purchasing an additional 706,317 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of General Dynamics by 0.8% during the 3rd quarter. Wellington Management Group LLP now owns 14,205,330 shares of the aerospace company's stock valued at $4,292,851,000 after buying an additional 109,618 shares during the last quarter. State Street Corp grew its stake in shares of General Dynamics by 9.4% in the 3rd quarter. State Street Corp now owns 10,945,110 shares of the aerospace company's stock valued at $3,307,612,000 after buying an additional 943,247 shares in the last quarter. Geode Capital Management LLC increased its holdings 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 buying an additional 638,342 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in General Dynamics by 3.6% during the fourth quarter. Bank of New York Mellon Corp now owns 1,706,250 shares of the aerospace company's stock valued at $449,580,000 after acquiring an additional 59,944 shares in the last quarter. Institutional investors and hedge funds own 86.14% of the company's stock.
Analyst Upgrades and Downgrades
Several research analysts have recently commented on the stock. JPMorgan Chase & Co. dropped their price target on shares of General Dynamics from $307.00 to $284.00 and set an "overweight" rating on the stock in a research note on Thursday, January 30th. 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 report on Tuesday, February 4th. Robert W. Baird reaffirmed a "neutral" rating and issued a $283.00 price target (down previously from $345.00) on shares of General Dynamics in a research report on Tuesday, January 14th. Deutsche Bank Aktiengesellschaft lowered their price objective on General Dynamics from $303.00 to $295.00 and set a "hold" rating on the stock in a report on Thursday, January 2nd. Finally, Royal Bank of Canada reduced their target price on General Dynamics from $290.00 to $280.00 and set a "sector perform" rating for the company in a report on Thursday, January 30th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $298.59.
Check Out Our Latest Report on General Dynamics
Insiders Place Their Bets
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 the company's stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $255.68, for a total transaction of $459,201.28. Following the sale, the director now directly owns 11,175 shares in the company, 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. Corporate insiders own 1.52% of the company's stock.
General Dynamics Stock Performance
GD traded up $2.00 on Wednesday, hitting $276.14. 1,348,810 shares of the stock traded hands, compared to its average volume of 1,317,743. The firm has a market capitalization of $74.65 billion, a PE ratio of 20.24, a P/E/G ratio of 1.69 and a beta of 0.59. The company has a current ratio of 1.37, a quick ratio of 0.82 and a debt-to-equity ratio of 0.33. General Dynamics Co. has a 52 week low of $239.87 and a 52 week high of $316.90. The business has a fifty day moving average price of $258.90 and a two-hundred day moving average price of $276.19.
General Dynamics (NYSE:GD - Get Free Report) last posted its quarterly earnings results on Wednesday, January 29th. The aerospace company reported $4.15 earnings per share 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%. On average, research analysts predict that General Dynamics Co. will post 14.83 EPS for the current fiscal year.
General Dynamics Increases Dividend
The firm also recently declared 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 annualized dividend and a yield of 2.17%. The ex-dividend date of this dividend is Friday, April 11th. This is a positive change from General Dynamics's previous quarterly dividend of $1.42. General Dynamics's dividend payout ratio is 43.99%.
General Dynamics declared that its Board of Directors has approved a stock repurchase program on Wednesday, December 4th that allows the company to repurchase 10,000,000 outstanding shares. This repurchase authorization allows the aerospace company to repurchase shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company's board of directors believes its shares are undervalued.
General Dynamics Profile
(
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.
Further Reading
Before you consider General Dynamics, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and General Dynamics wasn't on the list.
While General Dynamics currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
