AE Wealth Management LLC boosted its holdings in General Dynamics Co. (NYSE:GD) by 38.8% in the 1st quarter, Holdings Channel.com reports. The firm owned 26,647 shares of the aerospace company’s stock after acquiring an additional 7,443 shares during the period. AE Wealth Management LLC’s holdings in General Dynamics were worth $4,838,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors have also modified their holdings of the business. DB Wealth Management Group LLC bought a new stake in shares of General Dynamics during the fourth quarter valued at approximately $28,000. Alpha DNA Investment Management LLC bought a new stake in shares of General Dynamics during the fourth quarter valued at approximately $28,000. Birchcreek Wealth Management LLC purchased a new position in General Dynamics during the fourth quarter valued at $29,000. Safir Wealth Advisors LLC purchased a new position in General Dynamics during the fourth quarter valued at $30,000. Finally, Canton Hathaway LLC purchased a new position in General Dynamics during the fourth quarter valued at $30,000. Institutional investors and hedge funds own 84.48% of the company’s stock.
Several equities research analysts have weighed in on the company. Citigroup increased their price target on General Dynamics from $160.00 to $200.00 in a research report on Thursday, March 25th. Morgan Stanley raised their target price on General Dynamics from $149.00 to $163.00 and gave the company an “underweight” rating in a research report on Thursday, April 29th. Susquehanna raised their target price on General Dynamics from $205.00 to $215.00 and gave the company a “positive” rating in a research report on Thursday, April 29th. Barclays reaffirmed a “buy” rating on shares of General Dynamics in a research note on Friday, April 2nd. Finally, Wolfe Research reiterated an “underperform” rating on shares of General Dynamics in a research note on Wednesday, April 14th. Four analysts have rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $182.81.
Shares of General Dynamics stock opened at $191.69 on Tuesday. The firm has a fifty day simple moving average of $182.68 and a 200-day simple moving average of $160.19. The company has a current ratio of 1.29, a quick ratio of 0.90 and a debt-to-equity ratio of 0.68. General Dynamics Co. has a 1-year low of $121.67 and a 1-year high of $192.74. The stock has a market capitalization of $54.17 billion, a price-to-earnings ratio of 17.39, a PEG ratio of 2.40 and a beta of 1.03.
General Dynamics (NYSE:GD) last issued its quarterly earnings data on Wednesday, April 28th. The aerospace company reported $2.48 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.31 by $0.17. General Dynamics had a net margin of 8.33% and a return on equity of 23.00%. The business had revenue of $9.39 billion during the quarter, compared to analysts’ expectations of $8.95 billion. During the same period in the previous year, the company earned $2.43 earnings per share. General Dynamics’s revenue for the quarter was up 7.3% on a year-over-year basis. As a group, research analysts predict that General Dynamics Co. will post 11.06 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, May 7th. Investors of record on Friday, April 9th will be given a dividend of $1.19 per share. The ex-dividend date of this dividend is Thursday, April 8th. This represents a $4.76 dividend on an annualized basis and a yield of 2.48%. This is a positive change from General Dynamics’s previous quarterly dividend of $1.10. General Dynamics’s payout ratio is 39.73%.
General Dynamics Company Profile
General Dynamics Corp. is an aerospace and defense company, which engages in the provision of tanks, rockets, missiles, submarines, warships, fighters and electronics to all of the military services. It operates through the following segments: Aerospace, Combat Systems, Information Technology, and Marine Systems.
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