Private Capital Management Inc. bought a new stake in General Dynamics Corporation (NYSE:GD) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,900 shares of the aerospace company’s stock, valued at approximately $391,000.
Other hedge funds also recently made changes to their positions in the company. Teachers Advisors LLC boosted its holdings in General Dynamics Corporation by 92.8% in the first quarter. Teachers Advisors LLC now owns 578,526 shares of the aerospace company’s stock valued at $108,300,000 after acquiring an additional 278,394 shares during the last quarter. HCR Wealth Advisors boosted its holdings in shares of General Dynamics Corporation by 3.3% during the 1st quarter. HCR Wealth Advisors now owns 1,228 shares of the aerospace company’s stock worth $230,000 after buying an additional 39 shares in the last quarter. Burney Co. boosted its holdings in shares of General Dynamics Corporation by 5.8% during the 1st quarter. Burney Co. now owns 25,410 shares of the aerospace company’s stock worth $4,757,000 after buying an additional 1,404 shares in the last quarter. Boston Advisors LLC boosted its holdings in shares of General Dynamics Corporation by 13.4% during the 2nd quarter. Boston Advisors LLC now owns 6,760 shares of the aerospace company’s stock worth $1,339,000 after buying an additional 800 shares in the last quarter. Finally, Morgan Stanley boosted its holdings in shares of General Dynamics Corporation by 12.2% during the 1st quarter. Morgan Stanley now owns 1,139,288 shares of the aerospace company’s stock worth $213,274,000 after buying an additional 124,077 shares in the last quarter. Institutional investors and hedge funds own 86.05% of the company’s stock.
Shares of General Dynamics Corporation (NYSE GD) traded up 0.72% during trading on Monday, hitting $206.47. The stock had a trading volume of 580,187 shares. The stock has a market capitalization of $61.90 billion, a price-to-earnings ratio of 20.40 and a beta of 0.72. General Dynamics Corporation has a 52 week low of $148.76 and a 52 week high of $214.81. The firm has a 50 day moving average price of $207.29 and a 200-day moving average price of $200.47.
General Dynamics Corporation (NYSE:GD) last released its quarterly earnings results on Wednesday, October 25th. The aerospace company reported $2.52 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.43 by $0.09. General Dynamics Corporation had a return on equity of 27.98% and a net margin of 9.94%. The company had revenue of $7.58 billion for the quarter, compared to analyst estimates of $7.94 billion. During the same period in the previous year, the company posted $2.36 earnings per share. The firm’s revenue was down 1.0% on a year-over-year basis. On average, equities research analysts forecast that General Dynamics Corporation will post $9.82 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, November 10th. Shareholders of record on Friday, October 6th will be issued a $0.84 dividend. This represents a $3.36 annualized dividend and a yield of 1.64%. The ex-dividend date of this dividend is Thursday, October 5th. General Dynamics Corporation’s dividend payout ratio (DPR) is 33.50%.
A number of equities analysts have issued reports on the company. BidaskClub cut General Dynamics Corporation from a “strong-buy” rating to a “buy” rating in a report on Sunday, July 16th. Cowen and Company restated a “buy” rating and set a $230.00 price target on shares of General Dynamics Corporation in a report on Thursday. Morgan Stanley assumed coverage on General Dynamics Corporation in a report on Tuesday, August 8th. They set an “underweight” rating and a $185.00 price target on the stock. ValuEngine cut General Dynamics Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, October 3rd. Finally, Credit Suisse Group restated an “outperform” rating and set a $238.00 price target (up from $216.00) on shares of General Dynamics Corporation in a report on Thursday. Two analysts have rated the stock with a sell rating, five have issued a hold rating and ten have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $217.19.
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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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