Resources Management Corp CT ADV purchased a new position in shares of General Dynamics Co. (NYSE:GD) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 9,279 shares of the aerospace company’s stock, valued at approximately $1,696,000.
Other institutional investors have also recently added to or reduced their stakes in the company. Patriot Investment Management Inc. increased its holdings in General Dynamics by 3.0% in the third quarter. Patriot Investment Management Inc. now owns 1,948 shares of the aerospace company’s stock worth $340,000 after purchasing an additional 57 shares in the last quarter. Signaturefd LLC increased its stake in shares of General Dynamics by 1.7% in the 2nd quarter. Signaturefd LLC now owns 3,443 shares of the aerospace company’s stock valued at $626,000 after acquiring an additional 59 shares in the last quarter. G&S Capital LLC increased its stake in shares of General Dynamics by 10.5% in the 3rd quarter. G&S Capital LLC now owns 642 shares of the aerospace company’s stock valued at $117,000 after acquiring an additional 61 shares in the last quarter. Wetherby Asset Management Inc. lifted its position in shares of General Dynamics by 1.5% during the 3rd quarter. Wetherby Asset Management Inc. now owns 4,160 shares of the aerospace company’s stock valued at $760,000 after acquiring an additional 62 shares during the period. Finally, Bedel Financial Consulting Inc. lifted its position in shares of General Dynamics by 3.6% during the 2nd quarter. Bedel Financial Consulting Inc. now owns 1,886 shares of the aerospace company’s stock valued at $343,000 after acquiring an additional 65 shares during the period. Hedge funds and other institutional investors own 86.12% of the company’s stock.
GD traded up $1.04 during trading on Wednesday, hitting $178.08. 1,395,565 shares of the company’s stock were exchanged, compared to its average volume of 1,279,390. The company has a quick ratio of 0.74, a current ratio of 1.11 and a debt-to-equity ratio of 0.67. The business’s 50 day moving average is $180.43 and its two-hundred day moving average is $180.40. General Dynamics Co. has a fifty-two week low of $143.87 and a fifty-two week high of $193.76. The stock has a market cap of $52.58 billion, a P/E ratio of 15.59, a PEG ratio of 1.77 and a beta of 1.16.
General Dynamics (NYSE:GD) last issued its quarterly earnings data on Wednesday, October 23rd. The aerospace company reported $3.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.06 by $0.08. The firm had revenue of $9.76 billion during the quarter, compared to analysts’ expectations of $9.75 billion. General Dynamics had a net margin of 8.66% and a return on equity of 26.79%. The business’s revenue was up 7.3% on a year-over-year basis. During the same period last year, the company earned $2.89 earnings per share. On average, sell-side analysts forecast that General Dynamics Co. will post 11.91 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Investors of record on Friday, January 17th will be given a $1.02 dividend. This represents a $4.08 annualized dividend and a yield of 2.29%. General Dynamics’s payout ratio is 35.73%.
Several research analysts recently issued reports on the stock. Morgan Stanley cut their target price on shares of General Dynamics from $173.00 to $172.00 and set an “underweight” rating on the stock in a research note on Thursday, October 10th. Cowen set a $202.00 price target on shares of General Dynamics and gave the company a “buy” rating in a research note on Friday, August 30th. Zacks Investment Research upgraded shares of General Dynamics from a “hold” rating to a “buy” rating and set a $203.00 price objective on the stock in a report on Monday, September 2nd. Finally, Barclays set a $215.00 price objective on shares of General Dynamics and gave the stock a “buy” rating in a research report on Tuesday, October 8th. One analyst has rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the stock. General Dynamics presently has a consensus rating of “Hold” and a consensus price target of $192.06.
In other news, EVP Christopher Marzilli sold 32,930 shares of the stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $187.16, for a total value of $6,163,178.80. Following the completion of the sale, the executive vice president now directly owns 100,557 shares of the company’s stock, valued at $18,820,248.12. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 7.10% of the stock is currently owned by company insiders.
General Dynamics 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.
Further Reading: Market Timing
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