Patten Group Inc. maintained its position in General Dynamics Corporation (NYSE:GD) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,634 shares of the aerospace company’s stock at the end of the first quarter. Patten Group Inc.’s holdings in General Dynamics Corporation were worth $495,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Macquarie Group Ltd. increased its position in General Dynamics Corporation by 117.9% in the fourth quarter. Macquarie Group Ltd. now owns 18,300 shares of the aerospace company’s stock worth $3,160,000 after buying an additional 9,900 shares during the period. Rathbone Brothers plc increased its position in General Dynamics Corporation by 13.2% in the first quarter. Rathbone Brothers plc now owns 2,398 shares of the aerospace company’s stock worth $449,000 after buying an additional 280 shares during the period. Fulton Bank N.A. increased its position in General Dynamics Corporation by 12.5% in the first quarter. Fulton Bank N.A. now owns 1,859 shares of the aerospace company’s stock worth $348,000 after buying an additional 206 shares during the period. New England Research & Management Inc. increased its position in General Dynamics Corporation by 3.6% in the first quarter. New England Research & Management Inc. now owns 1,451 shares of the aerospace company’s stock worth $272,000 after buying an additional 50 shares during the period. Finally, Creative Planning increased its position in General Dynamics Corporation by 11.7% in the first quarter. Creative Planning now owns 13,534 shares of the aerospace company’s stock worth $2,534,000 after buying an additional 1,416 shares during the period. 86.77% of the stock is currently owned by hedge funds and other institutional investors.
Shares of General Dynamics Corporation (GD) opened at 198.73 on Friday. The stock has a 50 day moving average of $199.79 and a 200 day moving average of $194.45. The firm has a market cap of $59.58 billion, a PE ratio of 19.63 and a beta of 0.71. General Dynamics Corporation has a 1-year low of $148.76 and a 1-year high of $205.90.
General Dynamics Corporation (NYSE:GD) last announced its quarterly earnings results on Wednesday, July 26th. The aerospace company reported $2.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.43 by $0.02. General Dynamics Corporation had a net margin of 9.63% and a return on equity of 28.17%. The company had revenue of $7.68 billion during the quarter, compared to the consensus estimate of $7.76 billion. During the same quarter in the previous year, the company posted $2.30 earnings per share. The company’s revenue for the quarter was down 1.3% compared to the same quarter last year. Equities research analysts anticipate that General Dynamics Corporation will post $9.81 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, November 10th. Stockholders of record on Friday, October 6th will be issued a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a dividend yield of 1.69%. The ex-dividend date of this dividend is Thursday, October 5th. General Dynamics Corporation’s dividend payout ratio (DPR) is 34.57%.
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A number of research analysts recently commented on GD shares. Vetr downgraded shares of General Dynamics Corporation from a “hold” rating to a “sell” rating and set a $183.78 target price on the stock. in a research report on Monday, April 24th. Royal Bank Of Canada increased their target price on shares of General Dynamics Corporation from $211.00 to $220.00 and gave the company an “outperform” rating in a research report on Thursday, April 27th. Stifel Nicolaus increased their target price on shares of General Dynamics Corporation from $173.00 to $200.00 and gave the company a “hold” rating in a research report on Thursday, April 27th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $220.00 target price (up from $200.00) on shares of General Dynamics Corporation in a research report on Friday, April 28th. Finally, Barclays PLC reiterated an “overweight” rating and set a $210.00 price target (up previously from $200.00) on shares of General Dynamics Corporation in a research note on Monday, May 1st. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and eleven have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $206.59.
In other news, VP Christopher Marzilli sold 43,890 shares of the business’s stock in a transaction on Tuesday, May 30th. The shares were sold at an average price of $201.37, for a total transaction of $8,838,129.30. Following the completion of the transaction, the vice president now owns 107,857 shares of the company’s stock, valued at $21,719,164.09. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 6.70% of the company’s stock.
General Dynamics Corporation Company Profile
General Dynamics Corporation is a global aerospace and defense company. The Company offers a portfolio of products and services in business aviation; combat vehicles, weapons systems and munitions; information technology (IT) services and C4ISR (command, control, communications, computers, intelligence, surveillance and reconnaissance) solutions, and shipbuilding and ship repair.
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