Regentatlantic Capital LLC increased its holdings in shares of General Dynamics Co. (NYSE:GD) by 0.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 14,648 shares of the aerospace company’s stock after buying an additional 68 shares during the period. Regentatlantic Capital LLC’s holdings in General Dynamics were worth $2,677,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also made changes to their positions in the company. Prestige Wealth Management Group LLC purchased a new stake in General Dynamics during the 2nd quarter worth approximately $29,000. Kings Point Capital Management purchased a new stake in General Dynamics during the 2nd quarter worth approximately $36,000. TCI Wealth Advisors Inc. increased its stake in General Dynamics by 213.3% during the 3rd quarter. TCI Wealth Advisors Inc. now owns 235 shares of the aerospace company’s stock worth $43,000 after buying an additional 160 shares during the period. Stonebridge Capital Advisors LLC purchased a new stake in General Dynamics during the 2nd quarter worth approximately $46,000. Finally, NEXT Financial Group Inc increased its stake in General Dynamics by 454.2% during the 2nd quarter. NEXT Financial Group Inc now owns 266 shares of the aerospace company’s stock worth $48,000 after buying an additional 218 shares during the period. 86.27% of the stock is currently owned by hedge funds and other institutional investors.
Several equities research analysts recently weighed in on the stock. Robert W. Baird upped their target price 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. Cowen set a $202.00 price objective on shares of General Dynamics and gave the company a “buy” rating in a research report on Friday, August 30th. Morgan Stanley dropped their price objective on shares of General Dynamics from $173.00 to $172.00 and set an “underweight” rating on the stock in a research report on Thursday, October 10th. Barclays set a $215.00 price objective on shares of General Dynamics and gave the company a “buy” rating in a research report on Tuesday, October 8th. Finally, Zacks Investment Research raised shares of General Dynamics from a “hold” rating to a “buy” rating and set a $203.00 price objective on the stock in a research report on Monday, September 2nd. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and seven have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $193.58.
Shares of NYSE GD traded down $2.43 during mid-day trading on Wednesday, reaching $177.45. The company had a trading volume of 71,999 shares, compared to its average volume of 1,089,352. 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 50 day simple moving average of $183.45 and a two-hundred day simple moving average of $178.96. The stock has a market cap of $50.68 billion, a P/E ratio of 15.50, a PEG ratio of 1.69 and a beta of 1.20. General Dynamics Co. has a 52-week low of $143.87 and a 52-week high of $193.76.
General Dynamics (NYSE:GD) last posted its earnings results on Wednesday, July 24th. The aerospace company reported $2.77 EPS for the quarter, beating the Zacks’ consensus estimate of $2.68 by $0.09. The firm had revenue of $9.56 billion for the quarter, compared to the consensus estimate of $9.36 billion. General Dynamics had a net margin of 8.65% and a return on equity of 26.81%. The company’s revenue was up 4.0% on a year-over-year basis. During the same period last year, the firm posted $2.82 EPS. On average, equities analysts expect that General Dynamics Co. will post 11.88 EPS for the current year.
The business 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 dividend on an annualized basis and a dividend yield of 2.30%. The ex-dividend date is Thursday, October 10th. General Dynamics’s dividend payout ratio (DPR) is 35.73%.
In related news, VP Gary L. Whited sold 14,029 shares of the stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $188.38, for a total transaction of $2,642,783.02. Following the completion of the sale, the vice president now owns 37,542 shares in the company, valued at approximately $7,072,161.96. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Christopher Marzilli sold 32,930 shares of the stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $187.16, for a total transaction of $6,163,178.80. Following the sale, the executive vice president now owns 100,557 shares of the company’s stock, valued at approximately $18,820,248.12. The disclosure for this sale can be found here. Insiders sold a total of 48,459 shares of company stock worth $9,079,802 over the last ninety days. Insiders own 7.10% of the company’s stock.
General Dynamics 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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