Raymond James Trust N.A. boosted its holdings in General Dynamics Co. (NYSE:GD) by 3.1% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 25,677 shares of the aerospace company’s stock after purchasing an additional 782 shares during the quarter. Raymond James Trust N.A.’s holdings in General Dynamics were worth $3,555,000 as of its most recent SEC filing.
A number of other hedge funds have also bought and sold shares of the business. Newport Trust Co boosted its stake in General Dynamics by 0.8% in the 2nd quarter. Newport Trust Co now owns 19,591,159 shares of the aerospace company’s stock worth $2,928,095,000 after purchasing an additional 150,543 shares during the period. Bank of New York Mellon Corp boosted its stake in General Dynamics by 5.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,984,357 shares of the aerospace company’s stock worth $296,582,000 after purchasing an additional 95,691 shares during the period. Bank of Montreal Can boosted its stake in General Dynamics by 9.3% in the 2nd quarter. Bank of Montreal Can now owns 1,651,795 shares of the aerospace company’s stock worth $227,982,000 after purchasing an additional 140,106 shares during the period. The Manufacturers Life Insurance Company boosted its stake in General Dynamics by 594.6% in the 1st quarter. The Manufacturers Life Insurance Company now owns 1,563,512 shares of the aerospace company’s stock worth $206,868,000 after purchasing an additional 1,338,415 shares during the period. Finally, Morgan Stanley boosted its stake in General Dynamics by 4.8% in the 1st quarter. Morgan Stanley now owns 1,118,194 shares of the aerospace company’s stock worth $147,947,000 after purchasing an additional 51,292 shares during the period. Institutional investors and hedge funds own 84.98% of the company’s stock.
Shares of GD opened at $142.24 on Friday. The company has a market cap of $40.81 billion, a PE ratio of 12.63, a P/E/G ratio of 2.52 and a beta of 1.02. The business has a fifty day moving average of $144.54 and a 200 day moving average of $144.00. General Dynamics Co. has a 52-week low of $100.55 and a 52-week high of $190.08. The company has a quick ratio of 0.87, a current ratio of 1.27 and a debt-to-equity ratio of 0.75.
General Dynamics (NYSE:GD) last issued its quarterly earnings results on Wednesday, July 29th. The aerospace company reported $2.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.15 by $0.03. General Dynamics had a return on equity of 24.10% and a net margin of 8.47%. The company had revenue of $9.26 billion during the quarter, compared to the consensus estimate of $9.03 billion. During the same period last year, the company earned $2.77 earnings per share. General Dynamics’s revenue was down 3.0% on a year-over-year basis. As a group, research analysts anticipate that General Dynamics Co. will post 11.04 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Shareholders of record on Friday, October 9th will be paid a $1.10 dividend. The ex-dividend date is Thursday, October 8th. This represents a $4.40 dividend on an annualized basis and a yield of 3.09%. General Dynamics’s payout ratio is 36.73%.
In other General Dynamics news, VP William A. Moss sold 4,778 shares of the stock in a transaction on Thursday, September 24th. The stock was sold at an average price of $136.68, for a total value of $653,057.04. Following the sale, the vice president now owns 12,241 shares in the company, valued at $1,673,099.88. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 6.60% of the company’s stock.
Several research analysts have weighed in on the company. Stifel Nicolaus dropped their price target on General Dynamics from $180.00 to $160.00 and set a “hold” rating for the company in a research note on Thursday, July 30th. ValuEngine downgraded General Dynamics from a “hold” rating to a “sell” rating in a research report on Monday, August 3rd. Barclays lowered their target price on General Dynamics from $170.00 to $165.00 and set an “overweight” rating for the company in a research report on Thursday, October 1st. They noted that the move was a valuation call. Robert W. Baird downgraded General Dynamics from an “outperform” rating to a “neutral” rating and lowered their target price for the company from $167.00 to $149.00 in a research report on Friday, October 2nd. Finally, Argus downgraded General Dynamics from a “buy” rating to a “hold” rating in a research report on Monday, August 3rd. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and eight have issued a buy rating to the stock. General Dynamics presently has an average rating of “Hold” and a consensus price target of $173.19.
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.
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