1832 Asset Management L.P. increased its position in shares of General Dynamics Co. (NYSE:GD) by 934.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 40,000 shares of the aerospace company’s stock after acquiring an additional 36,132 shares during the period. 1832 Asset Management L.P.’s holdings in General Dynamics were worth $6,288,000 at the end of the most recent quarter.
A number of other large investors have also recently added to or reduced their stakes in GD. Exeter Financial LLC boosted its position in General Dynamics by 0.9% during the 4th quarter. Exeter Financial LLC now owns 7,105 shares of the aerospace company’s stock worth $1,117,000 after acquiring an additional 61 shares during the period. Tlwm boosted its position in General Dynamics by 4.1% during the 4th quarter. Tlwm now owns 2,273 shares of the aerospace company’s stock worth $366,000 after acquiring an additional 90 shares during the period. Private Capital Group LLC boosted its position in General Dynamics by 6.3% during the 4th quarter. Private Capital Group LLC now owns 1,555 shares of the aerospace company’s stock worth $244,000 after acquiring an additional 92 shares during the period. Crossmark Global Holdings Inc. boosted its position in General Dynamics by 1.0% during the 4th quarter. Crossmark Global Holdings Inc. now owns 9,434 shares of the aerospace company’s stock worth $1,483,000 after acquiring an additional 94 shares during the period. Finally, Legacy Capital Partners Inc. boosted its position in General Dynamics by 0.5% during the 4th quarter. Legacy Capital Partners Inc. now owns 17,986 shares of the aerospace company’s stock worth $2,828,000 after acquiring an additional 95 shares during the period. 87.43% of the stock is currently owned by hedge funds and other institutional investors.
Shares of GD stock opened at $168.49 on Thursday. 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 Co. has a twelve month low of $143.87 and a twelve month high of $229.74. The company has a market capitalization of $49.21 billion, a P/E ratio of 14.75, a P/E/G ratio of 1.59 and a beta of 1.13.
General Dynamics (NYSE:GD) last issued its quarterly earnings data on Wednesday, January 30th. The aerospace company reported $3.07 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.98 by $0.09. General Dynamics had a return on equity of 28.33% and a net margin of 9.24%. The business had revenue of $10.38 billion for the quarter, compared to the consensus estimate of $10.34 billion. During the same period last year, the business earned $2.50 EPS. The firm’s revenue was up 25.4% compared to the same quarter last year. On average, research analysts forecast 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. Investors of record on Friday, April 12th will be paid a $1.02 dividend. This represents a $4.08 dividend on an annualized basis and a dividend yield of 2.42%. This is an increase from General Dynamics’s previous quarterly dividend of $0.93. The ex-dividend date is Thursday, April 11th. General Dynamics’s dividend payout ratio (DPR) is presently 32.57%.
GD has been the subject of several research reports. Zacks Investment Research lowered General Dynamics from a “hold” rating to a “sell” rating in a report on Thursday, February 21st. Sanford C. Bernstein reduced their price target on General Dynamics from $186.00 to $178.00 and set a “market perform” rating for the company in a report on Monday, February 4th. FIG Partners upgraded General Dynamics to an “add” rating in a report on Tuesday, January 8th. Susquehanna Bancshares initiated coverage on General Dynamics in a report on Thursday, January 10th. They set a “neutral” rating and a $175.00 price target for the company. Finally, Barclays reduced their price target on General Dynamics from $256.00 to $210.00 and set an “overweight” rating for the company in a report on Tuesday, December 4th. Four research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the company. General Dynamics has an average rating of “Hold” and a consensus target price of $207.88.
In other General Dynamics news, VP Gary L. Whited sold 14,640 shares of General Dynamics stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $165.38, for a total value of $2,421,163.20. Following the transaction, the vice president now directly owns 30,462 shares of the company’s stock, valued at approximately $5,037,805.56. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Lester L. Lyles sold 4,580 shares of General Dynamics stock in a transaction that occurred on Friday, February 22nd. The stock was sold at an average price of $172.42, for a total value of $789,683.60. Following the completion of the transaction, the director now directly owns 12,314 shares in the company, valued at $2,123,179.88. The disclosure for this sale can be found here. Insiders sold a total of 21,547 shares of company stock worth $3,609,299 over the last three months. 6.90% of the stock is owned by company insiders.
General Dynamics Company 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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