Westwood Holdings Group Inc. decreased its position in shares of General Dynamics Co. (NYSE:GD) by 15.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 661,799 shares of the aerospace company’s stock after selling 122,117 shares during the quarter. General Dynamics makes up about 1.3% of Westwood Holdings Group Inc.’s portfolio, making the stock its 11th biggest holding. Westwood Holdings Group Inc. owned approximately 0.23% of General Dynamics worth $120,329,000 at the end of the most recent reporting period.
Other hedge funds have also recently made changes to their positions in the company. United Bank lifted its position in General Dynamics by 3.9% in the first quarter. United Bank now owns 4,740 shares of the aerospace company’s stock valued at $802,000 after buying an additional 180 shares during the last quarter. Great Lakes Advisors LLC lifted its position in General Dynamics by 9.7% in the first quarter. Great Lakes Advisors LLC now owns 9,795 shares of the aerospace company’s stock valued at $1,658,000 after buying an additional 868 shares during the last quarter. National Asset Management Inc. lifted its position in General Dynamics by 2.1% in the first quarter. National Asset Management Inc. now owns 3,029 shares of the aerospace company’s stock valued at $513,000 after buying an additional 63 shares during the last quarter. Cambridge Investment Research Advisors Inc. lifted its position in General Dynamics by 11.2% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 28,566 shares of the aerospace company’s stock valued at $4,836,000 after buying an additional 2,887 shares during the last quarter. Finally, Great West Life Assurance Co. Can lifted its position in General Dynamics by 0.3% in the first quarter. Great West Life Assurance Co. Can now owns 154,415 shares of the aerospace company’s stock valued at $26,085,000 after buying an additional 520 shares during the last quarter. 86.25% of the stock is currently owned by hedge funds and other institutional investors.
A number of research analysts have commented on the stock. ValuEngine raised shares of General Dynamics from a “sell” rating to a “hold” rating in a research report on Thursday, June 6th. Cowen set a $202.00 price target on shares of General Dynamics and gave the stock a “buy” rating in a research note on Friday, August 30th. Robert W. Baird boosted their price target on shares of General Dynamics from $188.00 to $218.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 10th. Morgan Stanley boosted their price target on shares of General Dynamics from $171.00 to $173.00 and gave the stock an “underweight” rating in a research note on Wednesday, August 14th. Finally, Zacks Investment Research upgraded shares of General Dynamics from a “hold” rating to a “buy” rating and set a $203.00 price target on the stock in a research note on Monday, September 2nd. One analyst has rated the stock with a sell rating, eleven have given a hold rating and seven have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $193.35.
In other General Dynamics news, VP Gary L. Whited sold 14,029 shares of the stock in a transaction that occurred on Tuesday, July 30th. The shares were sold at an average price of $188.38, for a total value of $2,642,783.02. Following the transaction, the vice president now directly owns 37,542 shares in the company, valued at $7,072,161.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Mark Lagrand Burns purchased 159 shares of the company’s stock in a transaction on Friday, August 9th. The stock was bought at an average price of $179.56 per share, for a total transaction of $28,550.04. Following the completion of the purchase, the vice president now directly owns 39,643 shares of the company’s stock, valued at $7,118,297.08. The disclosure for this purchase can be found here. 7.10% of the stock is currently owned by corporate insiders.
NYSE:GD traded up $0.35 on Friday, reaching $188.48. 46,603 shares of the company’s stock were exchanged, compared to its average volume of 963,248. The company has a quick ratio of 0.73, a current ratio of 1.09 and a debt-to-equity ratio of 0.70. The firm has a market capitalization of $55.26 billion, a price-to-earnings ratio of 16.51, a price-to-earnings-growth ratio of 1.85 and a beta of 1.19. The business has a fifty day moving average of $186.49 and a 200-day moving average of $177.05. General Dynamics Co. has a 52-week low of $143.87 and a 52-week high of $207.72.
General Dynamics (NYSE:GD) last released its earnings results on Wednesday, July 24th. The aerospace company reported $2.77 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.68 by $0.09. General Dynamics had a net margin of 8.65% and a return on equity of 26.81%. The firm had revenue of $9.56 billion for the quarter, compared to analyst estimates of $9.36 billion. During the same period in the prior year, the firm earned $2.82 earnings per share. The business’s quarterly revenue was up 4.0% compared to the same quarter last year. As a group, equities analysts anticipate that General Dynamics Co. will post 11.88 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, October 11th will be paid a dividend of $1.02 per share. The ex-dividend date of this dividend is Thursday, October 10th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 2.16%. General Dynamics’s payout ratio is 35.73%.
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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