GAM Holding AG increased its holdings in General Dynamics Co. (NYSE:GD) by 39.5% during the second quarter, HoldingsChannel.com reports. The fund owned 1,649 shares of the aerospace company’s stock after buying an additional 467 shares during the period. GAM Holding AG’s holdings in General Dynamics were worth $307,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors have also made changes to their positions in the company. American Century Companies Inc. grew its position in General Dynamics by 24.8% in the 1st quarter. American Century Companies Inc. now owns 564,624 shares of the aerospace company’s stock valued at $124,725,000 after buying an additional 112,054 shares during the last quarter. D.A. Davidson & CO. grew its position in General Dynamics by 537.1% in the 1st quarter. D.A. Davidson & CO. now owns 21,476 shares of the aerospace company’s stock valued at $4,744,000 after buying an additional 18,105 shares during the last quarter. Shufro Rose & Co. LLC purchased a new position in General Dynamics in the 1st quarter valued at $442,000. Sandy Spring Bank grew its position in General Dynamics by 19.2% in the 1st quarter. Sandy Spring Bank now owns 6,001 shares of the aerospace company’s stock valued at $1,325,000 after buying an additional 965 shares during the last quarter. Finally, Palladium Partners LLC grew its position in General Dynamics by 142.1% in the 1st quarter. Palladium Partners LLC now owns 48,495 shares of the aerospace company’s stock valued at $10,712,000 after buying an additional 28,467 shares during the last quarter. 85.47% of the stock is currently owned by institutional investors and hedge funds.
In related news, insider John Patrick Casey sold 22,500 shares of the business’s stock in a transaction dated Monday, July 16th. The shares were sold at an average price of $191.99, for a total value of $4,319,775.00. Following the sale, the insider now directly owns 118,555 shares in the company, valued at approximately $22,761,374.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 6.70% of the stock is owned by insiders.
Shares of NYSE GD opened at $195.24 on Friday. The firm has a market cap of $57.62 billion, a price-to-earnings ratio of 18.49, a P/E/G ratio of 1.56 and a beta of 0.79. General Dynamics Co. has a one year low of $184.21 and a one year high of $230.00. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.84 and a current ratio of 1.20.
General Dynamics (NYSE:GD) last issued its earnings results on Wednesday, July 25th. The aerospace company reported $2.82 EPS for the quarter, topping the consensus estimate of $2.49 by $0.33. General Dynamics had a net margin of 9.16% and a return on equity of 27.06%. The company had revenue of $9.19 billion for the quarter, compared to analyst estimates of $9.09 billion. During the same period in the previous year, the firm earned $2.45 EPS. The business’s revenue was up 19.7% on a year-over-year basis. analysts forecast that General Dynamics Co. will post 11.22 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 9th. Investors of record on Friday, October 5th will be given a $0.93 dividend. The ex-dividend date of this dividend is Thursday, October 4th. This represents a $3.72 annualized dividend and a dividend yield of 1.91%. General Dynamics’s dividend payout ratio is presently 37.39%.
A number of research firms recently weighed in on GD. UBS Group began coverage on shares of General Dynamics in a research report on Wednesday, August 15th. They issued a “neutral” rating and a $210.00 price objective on the stock. Credit Suisse Group decreased their target price on shares of General Dynamics from $263.00 to $234.00 in a research report on Tuesday, May 22nd. Drexel Hamilton restated a “buy” rating and set a $230.00 target price on shares of General Dynamics in a research report on Thursday, August 16th. Zacks Investment Research lowered shares of General Dynamics from a “hold” rating to a “sell” rating in a research report on Monday, July 2nd. Finally, Morgan Stanley decreased their target price on shares of General Dynamics from $215.00 to $207.00 and set an “underweight” rating on the stock in a research report on Friday, June 22nd. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and ten have given a buy rating to the company. General Dynamics has a consensus rating of “Hold” and a consensus target price of $239.39.
General Dynamics Profile
General Dynamics Corporation operates as an aerospace and defense company worldwide. It operates through four business groups: Aerospace; Combat Systems; Information Systems and Technology; and Marine Systems. The Aerospace group designs, develops, manufactures, service and supports business-jet aircraft; and provides aircraft services, such as maintenance, aircraft management, charter, fixed-base operational, and staffing services.
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