OMERS ADMINISTRATION Corp Has $2.56 Million Holdings in General Dynamics Co. (NYSE:GD)

OMERS ADMINISTRATION Corp raised its holdings in General Dynamics Co. (NYSE:GD) by 20.5% in the fourth quarter, HoldingsChannel.com reports. The firm owned 9,696 shares of the aerospace company’s stock after purchasing an additional 1,648 shares during the quarter. OMERS ADMINISTRATION Corp’s holdings in General Dynamics were worth $2,555,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Empowered Funds LLC lifted its position in General Dynamics by 15.3% during the fourth quarter. Empowered Funds LLC now owns 9,689 shares of the aerospace company’s stock worth $2,553,000 after purchasing an additional 1,283 shares during the period. Kentucky Trust Co acquired a new position in shares of General Dynamics in the 4th quarter valued at approximately $607,000. Hickory Point Bank & Trust bought a new stake in shares of General Dynamics during the 4th quarter worth approximately $692,000. Atlas Legacy Advisors LLC acquired a new stake in shares of General Dynamics during the 4th quarter worth approximately $550,000. Finally, Jones Financial Companies Lllp increased its stake in General Dynamics by 45.4% in the fourth quarter. Jones Financial Companies Lllp now owns 80,565 shares of the aerospace company’s stock valued at $21,228,000 after acquiring an additional 25,144 shares during the last quarter. Institutional investors and hedge funds own 86.14% of the company’s stock.

Insider Activity

In other General Dynamics news, SVP Marguerite Amy Gilliland sold 27,562 shares of the firm’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $272.11, for a total value of $7,499,895.82. Following the completion of the sale, the senior vice president now owns 45,192 shares of the company’s stock, valued at approximately $12,297,195.12. This trade represents a 37.88% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 1.50% of the company’s stock.

General Dynamics Stock Down 0.9%

Shares of NYSE:GD opened at $270.66 on Thursday. General Dynamics Co. has a 1 year low of $239.20 and a 1 year 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 business’s 50-day moving average is $269.24 and its 200-day moving average is $269.35. The company has a market capitalization of $72.64 billion, a price-to-earnings ratio of 19.84, a P/E/G ratio of 1.69 and a beta of 0.49.

General Dynamics (NYSE:GD) last posted its quarterly earnings results on Wednesday, April 23rd. The aerospace company reported $3.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.43 by $0.23. The firm had revenue of $12.22 billion for the quarter, compared to analysts’ expectations of $11.92 billion. General Dynamics had a return on equity of 17.10% and a net margin of 7.93%. The company’s revenue for the quarter was up 13.9% compared to the same quarter last year. During the same period in the prior year, the business earned $2.88 EPS. Equities research analysts predict that General Dynamics Co. will post 14.83 earnings per share for the current year.

General Dynamics Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 9th. Shareholders of record on Friday, April 11th were paid a $1.50 dividend. This is an increase from General Dynamics’s previous quarterly dividend of $1.42. This represents a $6.00 annualized dividend and a yield of 2.22%. The ex-dividend date of this dividend was Friday, April 11th. General Dynamics’s payout ratio is 41.61%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on GD shares. JPMorgan Chase & Co. reduced their target price on General Dynamics from $307.00 to $284.00 and set an “overweight” rating on the stock in a report on Thursday, January 30th. Susquehanna raised their price objective on General Dynamics from $300.00 to $315.00 and gave the company a “positive” rating in a research note on Wednesday, April 2nd. The Goldman Sachs Group lowered their target price on General Dynamics from $245.00 to $241.00 and set a “sell” rating for the company in a research note on Tuesday, January 28th. TD Securities raised their price target on shares of General Dynamics from $275.00 to $290.00 and gave the company a “buy” rating in a research note on Thursday, April 24th. Finally, Argus set a $295.00 price objective on shares of General Dynamics in a research report on Tuesday, May 6th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, General Dynamics currently has an average rating of “Hold” and an average target price of $293.00.

About General Dynamics

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.