Roosevelt Investment Group Inc. cut its position in General Dynamics Co. (NYSE:GD) by 74.5% in the fourth quarter, HoldingsChannel reports. The firm owned 1,466 shares of the aerospace company’s stock after selling 4,277 shares during the period. Roosevelt Investment Group Inc.’s holdings in General Dynamics were worth $298,000 as of its most recent SEC filing.
A number of other institutional investors have also recently made changes to their positions in GD. Quadrant Capital Group LLC raised its holdings 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 purchasing an additional 37 shares in the last quarter. Resources Investment Advisors Inc. raised its holdings 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 purchasing an additional 300 shares in the last quarter. NuWave Investment Management LLC bought a new position in General Dynamics in the fourth quarter worth about $130,000. WFG Advisors LP raised its holdings 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 purchasing an additional 2 shares in the last quarter. Finally, Fieldpoint Private Securities LLC bought a new position in General Dynamics in the third quarter worth about $148,000. Institutional investors and hedge funds own 87.03% of the company’s stock.
A number of equities analysts have commented on the stock. Royal Bank of Canada boosted their target price on shares of General Dynamics to $258.00 and gave the stock an “outperform” rating in a report on Thursday, January 25th. Jefferies Group boosted their target price on shares of General Dynamics to $247.00 and gave the stock a “buy” rating in a report on Thursday, January 25th. They noted that the move was a valuation call. Bank of America boosted their target price on shares of General Dynamics from $245.00 to $260.00 and gave the stock a “buy” rating in a report on Thursday, January 25th. Argus upgraded shares of General Dynamics to a “buy” rating and boosted their target price for the stock from $230.00 to $250.00 in a report on Tuesday, January 30th. Finally, Zacks Investment Research upgraded shares of General Dynamics from a “hold” rating to a “buy” rating and set a $252.00 price objective on the stock in a report on Friday, February 2nd. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $231.94.
General Dynamics (NYSE:GD) last posted its quarterly earnings data on Wednesday, January 24th. The aerospace company reported $2.50 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.37 by $0.13. The firm had revenue of $8.28 billion for 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 revenue for the quarter was up 8.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.89 earnings per share. sell-side analysts forecast that General Dynamics Co. will post 11.1 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, February 9th. Investors of record on Friday, January 19th were given 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 yield of 1.60%. General Dynamics’s dividend payout ratio is currently 35.18%.
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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