Pacer Advisors Inc. reduced its holdings in shares of General Dynamics Co. (NYSE:GD) by 4.5% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 25,113 shares of the aerospace company’s stock after selling 1,173 shares during the quarter. Pacer Advisors Inc.’s holdings in General Dynamics were worth $4,589,000 as of its most recent filing with the SEC.
Other institutional investors have also recently bought and sold shares of the company. Prestige Wealth Management Group LLC purchased a new stake in General Dynamics during the 2nd quarter valued at approximately $29,000. Kings Point Capital Management acquired a new stake in shares of General Dynamics in the 2nd quarter worth approximately $36,000. Princeton Global Asset Management LLC acquired a new stake in shares of General Dynamics in the 1st quarter worth approximately $42,000. Stonebridge Capital Advisors LLC acquired a new stake in shares of General Dynamics in the 2nd quarter worth approximately $46,000. Finally, Meridian Wealth Management LLC acquired a new stake in shares of General Dynamics in the 1st quarter worth approximately $48,000. 86.25% of the stock is owned by institutional investors and hedge funds.
Shares of GD opened at $179.63 on Friday. The company has a current ratio of 1.09, a quick ratio of 0.73 and a debt-to-equity ratio of 0.70. The firm has a market capitalization of $51.88 billion, a P/E ratio of 15.73, a price-to-earnings-growth ratio of 1.71 and a beta of 1.20. The stock’s fifty day simple moving average is $185.50 and its 200 day simple moving average is $178.45. General Dynamics Co. has a twelve month low of $143.87 and a twelve month high of $196.04.
General Dynamics (NYSE:GD) last issued its earnings results on Wednesday, July 24th. The aerospace company reported $2.77 earnings per share for the quarter, topping the consensus estimate of $2.68 by $0.09. The business had revenue of $9.56 billion for the quarter, compared to analyst estimates of $9.36 billion. General Dynamics had a return on equity of 26.81% and a net margin of 8.65%. The business’s quarterly revenue was up 4.0% on a year-over-year basis. During the same period last year, the company posted $2.82 EPS. Sell-side analysts predict 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 given a $1.02 dividend. This represents a $4.08 annualized dividend and a dividend yield of 2.27%. The ex-dividend date of this dividend is Thursday, October 10th. General Dynamics’s dividend payout ratio (DPR) is currently 35.73%.
In related news, Director William A. Osborn sold 1,500 shares of the stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $182.56, for a total value of $273,840.00. Following the transaction, the director now directly owns 37,585 shares of the company’s stock, valued at approximately $6,861,517.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Mark Lagrand Burns bought 159 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The stock was purchased at an average cost of $179.56 per share, for a total transaction of $28,550.04. Following the completion of the transaction, the vice president now directly owns 39,643 shares in the company, valued at approximately $7,118,297.08. The disclosure for this purchase can be found here. Insiders sold a total of 48,459 shares of company stock worth $9,079,802 over the last ninety days. Corporate insiders own 7.10% of the company’s stock.
A number of brokerages have commented on GD. Robert W. Baird increased their target price on General Dynamics from $188.00 to $218.00 and gave the company an “outperform” rating in a report on Wednesday, July 10th. Barclays set a $215.00 target price on General Dynamics and gave the company a “buy” rating in a report on Tuesday. Morgan Stanley lowered their target price on General Dynamics from $173.00 to $172.00 and set an “underweight” rating on the stock in a report on Thursday. Cowen set a $202.00 target price on General Dynamics and gave the company a “buy” rating in a report on Friday, August 30th. Finally, Zacks Investment Research upgraded General Dynamics from a “hold” rating to a “buy” rating and set a $203.00 target price on the stock in a report on Monday, September 2nd. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and seven have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $193.58.
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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