Raymond James Trust N.A. boosted its holdings in shares of General Dynamics Co. (NYSE:GD) by 1.1% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,385 shares of the aerospace company’s stock after purchasing an additional 221 shares during the period. Raymond James Trust N.A.’s holdings in General Dynamics were worth $3,706,000 as of its most recent SEC filing.
Other hedge funds have also added to or reduced their stakes in the company. Ellis Investment Partners LLC increased its position in shares of General Dynamics by 16,833.7% during the first quarter. Ellis Investment Partners LLC now owns 960,820 shares of the aerospace company’s stock valued at $960,000 after buying an additional 955,146 shares during the period. Caisse DE Depot ET Placement DU Quebec boosted its stake in shares of General Dynamics by 8.1% in the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 3,365,297 shares of the aerospace company’s stock valued at $569,677,000 after buying an additional 252,900 shares during the period. Longview Asset Management LLC lifted its stake in General Dynamics by 0.7% during the first quarter. Longview Asset Management LLC now owns 32,898,410 shares of the aerospace company’s stock worth $5,569,043,000 after purchasing an additional 215,179 shares during the last quarter. Geode Capital Management LLC lifted its stake in General Dynamics by 5.8% during the fourth quarter. Geode Capital Management LLC now owns 3,511,536 shares of the aerospace company’s stock worth $551,080,000 after purchasing an additional 193,294 shares during the last quarter. Finally, Pennsylvania Trust Co increased its holdings in shares of General Dynamics by 2,513.5% during the first quarter. Pennsylvania Trust Co now owns 129,030 shares of the aerospace company’s stock worth $7,109,000 after buying an additional 124,093 shares in the last quarter. 86.47% of the stock is owned by hedge funds and other institutional investors.
A number of research analysts recently weighed in on the stock. UBS Group reiterated a “buy” rating and issued a $124.00 price objective on shares of Cie Gnrl des Etblsmnts Michelin SCA in a research note on Thursday, April 25th. Zacks Investment Research raised shares of Global Ship Lease from a “hold” rating to a “strong-buy” rating and set a $7.75 price target for the company in a report on Monday, June 3rd. Goldman Sachs Group raised shares of General Dynamics from a “neutral” rating to a “buy” rating and set a $204.00 price target for the company in a report on Sunday, May 19th. Morgan Stanley set a $18.00 price target on shares of PG&E and gave the stock a “hold” rating in a report on Friday, June 14th. Finally, Cowen reissued an “outperform” rating and issued a $230.00 price target (up previously from $200.00) on shares of Norfolk Southern in a report on Wednesday, April 24th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eight have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $196.00.
General Dynamics stock opened at $186.56 on Friday. General Dynamics Co. has a 52-week low of $143.87 and a 52-week high of $207.72. The stock has a market capitalization of $54.20 billion, a price-to-earnings ratio of 16.34, a price-to-earnings-growth ratio of 1.79 and a beta of 1.20. The business’s fifty day simple moving average is $179.37. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.09 and a quick ratio of 0.82.
General Dynamics (NYSE:GD) last posted its quarterly earnings data on Wednesday, July 24th. The aerospace company reported $2.77 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.68 by $0.09. The business had revenue of $9.56 billion during the quarter, compared to the consensus estimate of $9.36 billion. General Dynamics had a return on equity of 26.81% and a net margin of 8.65%. The company’s revenue was up 4.0% compared to the same quarter last year. During the same period in the prior year, the company earned $2.82 earnings per share. As a group, equities analysts expect that General Dynamics Co. will post 11.76 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 9th. Investors of record on Friday, July 5th will be paid a dividend of $1.02 per share. The ex-dividend date of this dividend is Wednesday, July 3rd. This represents a $4.08 dividend on an annualized basis and a yield of 2.19%. General Dynamics’s payout ratio is currently 35.73%.
About General Dynamics
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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