Tredje AP fonden trimmed its holdings in shares of General Dynamics Co. (NYSE:GD) by 11.5% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 17,905 shares of the aerospace company’s stock after selling 2,317 shares during the quarter. Tredje AP fonden’s holdings in General Dynamics were worth $2,792,000 as of its most recent filing with the SEC.
Several other large investors have also added to or reduced their stakes in the stock. Princeton Global Asset Management LLC purchased a new position in General Dynamics in the fourth quarter valued at about $25,000. Anderson Fisher LLC acquired a new position in shares of General Dynamics in the 4th quarter valued at approximately $31,000. Solstein Capital LLC purchased a new position in shares of General Dynamics during the 4th quarter valued at approximately $31,000. Key Financial Inc acquired a new stake in shares of General Dynamics during the first quarter worth approximately $31,000. Finally, Wealthcare Advisory Partners LLC increased its stake in shares of General Dynamics by 30.2% in the fourth quarter. Wealthcare Advisory Partners LLC now owns 263 shares of the aerospace company’s stock worth $46,000 after buying an additional 61 shares during the last quarter. Institutional investors and hedge funds own 86.17% of the company’s stock.
Several brokerages have weighed in on GD. Morgan Stanley raised their price objective on shares of General Dynamics from $146.00 to $151.00 and gave the stock an “underweight” rating in a report on Tuesday, April 14th. Seaport Global Securities assumed coverage on General Dynamics in a research note on Tuesday. They issued a “buy” rating and a $188.00 price target for the company. Susquehanna Bancshares lowered their price objective on General Dynamics from $179.00 to $167.00 and set a “positive” rating for the company in a report on Thursday, April 30th. JPMorgan Chase & Co. raised General Dynamics from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $210.00 to $225.00 in a report on Thursday, February 6th. Finally, Cfra upgraded General Dynamics from a “hold” rating to a “buy” rating and boosted their price target for the company from $195.00 to $211.00 in a report on Wednesday, February 12th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and eleven have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $187.15.
NYSE:GD traded down $0.10 during midday trading on Friday, reaching $138.57. 884,108 shares of the company traded hands, compared to its average volume of 2,504,818. The firm has a market capitalization of $39.78 billion, a price-to-earnings ratio of 11.69, a price-to-earnings-growth ratio of 2.31 and a beta of 1.01. The company has a fifty day moving average price of $133.05 and a 200 day moving average price of $162.93. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.34 and a quick ratio of 0.97. General Dynamics Co. has a twelve month low of $100.55 and a twelve month high of $193.76.
General Dynamics (NYSE:GD) last posted its earnings results on Wednesday, April 29th. The aerospace company reported $2.43 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.46 by ($0.03). The company had revenue of $8.75 billion during the quarter, compared to the consensus estimate of $9.25 billion. General Dynamics had a net margin of 8.87% and a return on equity of 25.92%. The business’s quarterly revenue was down 5.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.56 earnings per share. On average, equities research analysts forecast that General Dynamics Co. will post 11.17 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, May 8th. Shareholders of record on Friday, April 10th were paid a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a yield of 3.18%. This is a positive change from General Dynamics’s previous quarterly dividend of $1.02. The ex-dividend date of this dividend was Wednesday, April 8th. General Dynamics’s payout ratio is presently 36.73%.
General Dynamics declared that its board has initiated a stock buyback program on Wednesday, March 4th that allows the company to repurchase 10,000,000 shares. This repurchase authorization allows the aerospace company to buy shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company’s board believes its stock is undervalued.
General Dynamics Company Profile
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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