Legacy Capital Partners Inc. lessened its stake in General Dynamics Co. (NYSE:GD) by 1.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,757 shares of the aerospace company’s stock after selling 328 shares during the period. General Dynamics makes up about 1.9% of Legacy Capital Partners Inc.’s holdings, making the stock its 16th biggest holding. Legacy Capital Partners Inc.’s holdings in General Dynamics were worth $3,816,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently added to or reduced their stakes in the business. Caisse DE Depot ET Placement DU Quebec boosted its stake in shares of General Dynamics by 2,097.3% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,711,597 shares of the aerospace company’s stock valued at $353,351,000 after purchasing an additional 1,633,700 shares in the last quarter. American Century Companies Inc. raised its holdings in General Dynamics by 9,395.8% during the 4th quarter. American Century Companies Inc. now owns 452,570 shares of the aerospace company’s stock valued at $92,075,000 after buying an additional 447,804 shares during the last quarter. Koch Industries Inc. bought a new position in General Dynamics in the 2nd quarter worth $437,000. Alyeska Investment Group L.P. raised its holdings in General Dynamics by 82.6% in the 3rd quarter. Alyeska Investment Group L.P. now owns 697,511 shares of the aerospace company’s stock worth $143,394,000 after purchasing an additional 315,512 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D raised its holdings in General Dynamics by 233.3% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 450,000 shares of the aerospace company’s stock worth $92,511,000 after purchasing an additional 315,000 shares in the last quarter. 87.26% of the stock is owned by institutional investors and hedge funds.
General Dynamics Co. (NYSE:GD) opened at $212.10 on Friday. The company has a quick ratio of 0.99, a current ratio of 1.40 and a debt-to-equity ratio of 0.35. The company has a market capitalization of $62,971.64, a price-to-earnings ratio of 22.21, a P/E/G ratio of 2.25 and a beta of 0.85. General Dynamics Co. has a 52 week low of $182.16 and a 52 week high of $229.54.
The business also recently declared a quarterly dividend, which was paid on Friday, February 9th. Shareholders of record on Friday, January 19th were given a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a yield of 1.58%. The ex-dividend date was Thursday, January 18th. General Dynamics’s dividend payout ratio is currently 35.18%.
A number of analysts have recently weighed in on GD shares. Stifel Nicolaus upped their target price 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. Royal Bank of Canada set a $239.00 price target on shares of General Dynamics and gave the company a “buy” rating in a report on Wednesday, November 15th. Zacks Investment Research downgraded shares of General Dynamics from a “hold” rating to a “sell” rating in a report on Tuesday, December 26th. Cowen reiterated a “buy” rating and issued a $230.00 price objective on shares of General Dynamics in a research note on Thursday, October 19th. Finally, Jefferies Group reiterated a “buy” rating and issued a $237.00 price objective on shares of General Dynamics in a research note on Monday, January 8th. Three 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 company. General Dynamics has a consensus rating of “Hold” and a consensus target price of $231.94.
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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