Glassman Wealth Services bought a new position in General Dynamics Co. (NYSE:GD) during the fourth quarter, HoldingsChannel.com reports. The institutional investor bought 13,246 shares of the aerospace company’s stock, valued at approximately $2,695,000. General Dynamics accounts for approximately 1.6% of Glassman Wealth Services’ portfolio, making the stock its 10th largest holding.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Moreno Evelyn V raised its position in shares of General Dynamics by 9.3% during the 4th quarter. Moreno Evelyn V now owns 14,712 shares of the aerospace company’s stock valued at $2,993,000 after buying an additional 1,256 shares during the period. AE Wealth Management LLC raised its position in shares of General Dynamics by 29.4% during the 4th quarter. AE Wealth Management LLC now owns 1,543 shares of the aerospace company’s stock valued at $314,000 after buying an additional 351 shares during the period. ING Groep NV raised its position in shares of General Dynamics by 9.7% during the 4th quarter. ING Groep NV now owns 26,402 shares of the aerospace company’s stock valued at $5,371,000 after buying an additional 2,334 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its position in shares of General Dynamics by 1.2% during the 4th quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 39,139 shares of the aerospace company’s stock valued at $7,896,000 after buying an additional 472 shares during the period. Finally, Monument Capital Management purchased a new stake in shares of General Dynamics during the 4th quarter valued at approximately $1,992,000. 87.26% of the stock is currently owned by institutional investors and hedge funds.
Several analysts have recently commented on the stock. Zacks Investment Research raised shares of General Dynamics from a “hold” rating to a “buy” rating and set a $252.00 price target on the stock in a research report on Friday, February 2nd. Citigroup lifted their target price on shares of General Dynamics from $215.00 to $235.00 and gave the company a “neutral” rating in a report on Thursday, January 25th. Royal Bank of Canada set a $246.00 target price on shares of General Dynamics and gave the company a “buy” rating in a report on Tuesday, January 23rd. Wells Fargo & Co lifted their target price on shares of General Dynamics from $225.00 to $240.00 and gave the company an “outperform” rating in a report on Thursday, January 25th. Finally, Jefferies Group lifted their target price on shares of General Dynamics to $247.00 and gave the company a “buy” rating in a report on Thursday, January 25th. They noted that the move was a valuation call. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and thirteen have issued a buy rating to the stock. General Dynamics presently has a consensus rating of “Hold” and a consensus target price of $231.94.
General Dynamics (NYSE:GD) last posted its quarterly earnings results on Wednesday, January 24th. The aerospace company reported $2.50 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.37 by $0.13. The business had revenue of $8.28 billion during the quarter, compared to the consensus estimate of $8.40 billion. General Dynamics had a net margin of 9.40% and a return on equity of 27.22%. The company’s quarterly revenue was up 8.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.89 earnings per share. sell-side analysts forecast that General Dynamics Co. will post 11.1 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, February 9th. Shareholders of record on Friday, January 19th will be paid a $0.84 dividend. The ex-dividend date is Thursday, January 18th. This represents a $3.36 annualized dividend and a dividend yield of 1.63%. General Dynamics’s dividend payout ratio (DPR) is 35.18%.
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General Dynamics 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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