Engineers Gate Manager LP bought a new position in General Dynamics Co. (NYSE:GD) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 6,010 shares of the aerospace company’s stock, valued at approximately $1,223,000.
Other hedge funds also recently modified their holdings of the company. Quadrant Capital Group LLC raised its position in General Dynamics by 6.1% in the second quarter. Quadrant Capital Group LLC now owns 645 shares of the aerospace company’s stock worth $110,000 after acquiring an additional 37 shares during the period. Resources Investment Advisors Inc. raised its position in General Dynamics by 92.3% in the fourth quarter. Resources Investment Advisors Inc. now owns 625 shares of the aerospace company’s stock worth $127,000 after acquiring an additional 300 shares during the period. WFG Advisors LP raised its position in General Dynamics by 0.3% in the second quarter. WFG Advisors LP now owns 668 shares of the aerospace company’s stock worth $132,000 after acquiring an additional 2 shares during the period. Fieldpoint Private Securities LLC bought a new position in General Dynamics in the third quarter worth approximately $148,000. Finally, Sit Investment Associates Inc. raised its position in General Dynamics by 170.0% in the fourth quarter. Sit Investment Associates Inc. now owns 953 shares of the aerospace company’s stock worth $194,000 after acquiring an additional 600 shares during the period. Institutional investors own 87.26% of the company’s stock.
Several research analysts have weighed in on GD shares. Royal Bank of Canada set a $239.00 price target on shares of General Dynamics and gave the stock a “buy” rating in a research report on Wednesday, November 15th. Cowen reiterated a “buy” rating and issued a $230.00 price target on shares of General Dynamics in a research report on Thursday, October 19th. ValuEngine downgraded shares of General Dynamics from a “buy” rating to a “hold” rating in a research report on Thursday, November 30th. Stifel Nicolaus increased their price target on shares of General Dynamics from $200.00 to $210.00 and gave the stock a “hold” rating in a research report on Thursday, October 26th. Finally, Zacks Investment Research downgraded shares of General Dynamics from a “hold” rating to a “sell” rating in a research report on Tuesday, December 26th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and thirteen have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $231.94.
General Dynamics (NYSE:GD) last issued its quarterly earnings data on Wednesday, January 24th. The aerospace company reported $2.50 EPS for the quarter, topping analysts’ consensus estimates of $2.37 by $0.13. General Dynamics had a net margin of 9.40% and a return on equity of 27.22%. The business had revenue of $8.28 billion during the quarter, compared to analysts’ expectations of $8.40 billion. During the same period last year, the company posted $1.89 EPS. The business’s revenue was up 8.1% on a year-over-year basis. equities research analysts predict that General Dynamics Co. will post 11.1 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 9th. Shareholders of record on Friday, January 19th were paid a $0.84 dividend. The ex-dividend date of this dividend was Thursday, January 18th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 1.58%. General Dynamics’s payout ratio is currently 35.18%.
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About General Dynamics
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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