Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its stake in shares of General Dynamics Co. (NYSE:GD) by 12.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 85,849 shares of the aerospace company’s stock after purchasing an additional 9,308 shares during the quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in General Dynamics were worth $11,359,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Becker Capital Management Inc. bought a new position in General Dynamics during the 4th quarter worth $11,287,000. ING Groep NV grew its position in shares of General Dynamics by 10.2% during the fourth quarter. ING Groep NV now owns 16,074 shares of the aerospace company’s stock worth $2,835,000 after acquiring an additional 1,483 shares during the last quarter. 10 15 Associates Inc. acquired a new stake in shares of General Dynamics in the 4th quarter worth about $11,206,000. Transform Wealth LLC increased its holdings in shares of General Dynamics by 11.8% in the 4th quarter. Transform Wealth LLC now owns 3,397 shares of the aerospace company’s stock worth $599,000 after acquiring an additional 359 shares during the period. Finally, Conning Inc. lifted its position in General Dynamics by 4.2% in the 1st quarter. Conning Inc. now owns 218,076 shares of the aerospace company’s stock valued at $28,854,000 after purchasing an additional 8,771 shares during the last quarter. 86.17% of the stock is currently owned by institutional investors and hedge funds.
Several brokerages have recently issued reports on GD. Seaport Global Securities assumed coverage on General Dynamics in a research report on Tuesday. They set a “buy” rating and a $188.00 price objective for the company. ValuEngine lowered General Dynamics from a “hold” rating to a “sell” rating in a research report on Wednesday, April 29th. Morgan Stanley raised their price target on General Dynamics from $146.00 to $151.00 and gave the company an “underweight” rating in a report on Tuesday, April 14th. Credit Suisse Group reduced their price objective on shares of General Dynamics from $191.00 to $153.00 and set a “neutral” rating for the company in a report on Thursday, April 30th. Finally, Royal Bank of Canada began coverage on shares of General Dynamics in a research note on Wednesday. They set an “outperform” rating and a $157.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and eleven have given a buy rating to the company. General Dynamics currently has an average rating of “Buy” and an average price target of $187.15.
NYSE GD traded down $0.10 on Friday, reaching $138.57. The company’s stock had a trading volume of 884,108 shares, compared to its average volume of 2,504,818. General Dynamics Co. has a twelve month low of $100.55 and a twelve month high of $193.76. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.97 and a current ratio of 1.34. The firm’s 50 day moving average is $133.05 and its two-hundred day moving average is $162.93. The stock has a market cap of $39.78 billion, a PE ratio of 11.69, a PEG ratio of 2.31 and a beta of 1.01.
General Dynamics (NYSE:GD) last released its earnings results on Wednesday, April 29th. The aerospace company reported $2.43 EPS for the quarter, missing analysts’ consensus estimates of $2.46 by ($0.03). The business had revenue of $8.75 billion during the quarter, compared to the consensus estimate of $9.25 billion. General Dynamics had a return on equity of 25.92% and a net margin of 8.87%. The firm’s revenue for the quarter was down 5.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.56 earnings per share. Equities research analysts anticipate that General Dynamics Co. will post 11.17 EPS for the current fiscal year.
General Dynamics announced that its Board of Directors has approved a stock repurchase plan on Wednesday, March 4th that authorizes the company to buyback 10,000,000 shares. This buyback authorization authorizes the aerospace company to repurchase shares of its stock through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.
The business also recently disclosed a quarterly dividend, which was paid on Friday, May 8th. Stockholders of record on Friday, April 10th were paid a dividend of $1.10 per share. The ex-dividend date was Wednesday, April 8th. This is a positive change from General Dynamics’s previous quarterly dividend of $1.02. This represents a $4.40 annualized dividend and a dividend yield of 3.18%. General Dynamics’s dividend payout ratio (DPR) is currently 36.73%.
About General Dynamics
General Dynamics Corporation operates as an aerospace and defense company worldwide. It operates in five segments: Aerospace, Combat Systems, Information Technology, Mission Systems, and Marine Systems. The Aerospace segment designs, manufactures, and supports business-jet aircraft; and offers business-aviation services, including maintenance, fixed-base operation, government fleet, aircraft management, charter, and staffing services, as well as integrated aviation solutions.
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