Pennsylvania Trust Co grew its stake in shares of General Dynamics Co. (NYSE:GD) by 2,513.5% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 129,030 shares of the aerospace company’s stock after buying an additional 124,093 shares during the quarter. Pennsylvania Trust Co’s holdings in General Dynamics were worth $7,109,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Financial Gravity Companies Inc. bought a new stake in shares of General Dynamics during the fourth quarter worth $25,000. We Are One Seven LLC bought a new stake in shares of General Dynamics during the fourth quarter worth $27,000. Aspire Private Capital LLC bought a new stake in shares of General Dynamics during the fourth quarter worth $29,000. CX Institutional bought a new stake in shares of General Dynamics in the first quarter worth $45,000. Finally, Athena Capital Advisors LLC bought a new stake in shares of General Dynamics in the fourth quarter worth $46,000. 87.27% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE GD opened at $173.74 on Wednesday. General Dynamics Co. has a 1-year low of $143.87 and a 1-year high of $229.74. The stock has a market cap of $50.17 billion, a PE ratio of 15.21, a P/E/G ratio of 1.60 and a beta of 1.12. The company has a current ratio of 1.23, a quick ratio of 0.83 and a debt-to-equity ratio of 0.98.
General Dynamics (NYSE:GD) last announced its quarterly earnings data on Wednesday, January 30th. The aerospace company reported $3.07 earnings per share for the quarter, beating the consensus estimate of $2.98 by $0.09. General Dynamics had a net margin of 9.24% and a return on equity of 28.33%. The firm had revenue of $10.38 billion for the quarter, compared to analyst estimates of $10.34 billion. During the same quarter in the prior year, the business earned $2.50 earnings per share. The business’s quarterly revenue was up 25.4% compared to the same quarter last year. Equities analysts anticipate that General Dynamics Co. will post 11.72 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 10th. Stockholders of record on Friday, April 12th will be issued a dividend of $1.02 per share. The ex-dividend date of this dividend is Thursday, April 11th. This represents a $4.08 annualized dividend and a dividend yield of 2.35%. This is a positive change from General Dynamics’s previous quarterly dividend of $0.93. General Dynamics’s dividend payout ratio is currently 35.73%.
GD has been the topic of several analyst reports. Credit Suisse Group reissued a “buy” rating and issued a $190.00 price objective on shares of General Dynamics in a research note on Monday, January 14th. Zacks Investment Research cut shares of General Dynamics from a “hold” rating to a “sell” rating in a research note on Friday, March 1st. FIG Partners raised shares of General Dynamics to an “add” rating in a research note on Tuesday, January 8th. Sanford C. Bernstein reduced their price objective on shares of General Dynamics from $186.00 to $178.00 and set a “market perform” rating on the stock in a research note on Monday, February 4th. Finally, Citigroup reduced their price objective on shares of General Dynamics from $195.00 to $175.00 and set a “neutral” rating on the stock in a research note on Monday, January 14th. Four investment analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company’s stock. General Dynamics currently has an average rating of “Hold” and an average price target of $204.43.
In related news, Director Lester L. Lyles sold 4,580 shares of the company’s stock in a transaction dated Friday, February 22nd. The shares were sold at an average price of $172.42, for a total value of $789,683.60. Following the sale, the director now owns 12,314 shares in the company, valued at approximately $2,123,179.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Christopher J. Brady sold 2,327 shares of the company’s stock in a transaction dated Monday, February 4th. The stock was sold at an average price of $171.23, for a total transaction of $398,452.21. Following the completion of the sale, the vice president now owns 5,134 shares in the company, valued at approximately $879,094.82. The disclosure for this sale can be found here. Insiders have sold 21,547 shares of company stock worth $3,609,299 in the last quarter. Company insiders own 7.10% of the company’s stock.
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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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