Wealthfront Advisers LLC raised its position in General Dynamics Co. (NYSE:GD) by 15.5% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,874 shares of the aerospace company’s stock after buying an additional 1,723 shares during the quarter. Wealthfront Advisers LLC’s holdings in General Dynamics were worth $2,352,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of General Dynamics by 0.8% during the 2nd quarter. Vanguard Group Inc. now owns 21,270,773 shares of the aerospace company’s stock valued at $3,867,453,000 after acquiring an additional 177,296 shares during the period. Caisse DE Depot ET Placement DU Quebec lifted its position in shares of General Dynamics by 11.4% during the 2nd quarter. Caisse DE Depot ET Placement DU Quebec now owns 3,748,497 shares of the aerospace company’s stock valued at $681,552,000 after acquiring an additional 383,200 shares during the period. Barrow Hanley Mewhinney & Strauss LLC lifted its position in shares of General Dynamics by 5.3% during the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,590,209 shares of the aerospace company’s stock valued at $470,952,000 after acquiring an additional 130,747 shares during the period. Janus Henderson Group PLC lifted its position in shares of General Dynamics by 2.6% during the 2nd quarter. Janus Henderson Group PLC now owns 2,335,959 shares of the aerospace company’s stock valued at $424,721,000 after acquiring an additional 58,222 shares during the period. Finally, Bank of New York Mellon Corp lifted its position in shares of General Dynamics by 2.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,875,993 shares of the aerospace company’s stock valued at $341,091,000 after acquiring an additional 42,778 shares during the period. 86.26% of the stock is currently owned by hedge funds and other institutional investors.
Shares of GD stock traded up $0.70 on Wednesday, hitting $179.15. The company had a trading volume of 28,638 shares, compared to its average volume of 1,553,596. The firm has a market cap of $51.89 billion, a P/E ratio of 15.66, a P/E/G ratio of 1.73 and a beta of 1.20. The stock’s 50-day moving average is $185.05 and its two-hundred day moving average is $178.71. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.73 and a current ratio of 1.09. General Dynamics Co. has a twelve month low of $143.87 and a twelve month high of $196.04.
The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, October 11th will be paid a dividend of $1.02 per share. The ex-dividend date is Thursday, October 10th. This represents a $4.08 annualized dividend and a yield of 2.28%. General Dynamics’s dividend payout ratio is currently 35.73%.
In other news, VP Mark Lagrand Burns acquired 159 shares of General Dynamics stock in a transaction on Friday, August 9th. The stock was purchased at an average price of $179.56 per share, with a total value of $28,550.04. Following the completion of the purchase, the vice president now owns 39,643 shares of the company’s stock, valued at approximately $7,118,297.08. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Christopher Marzilli sold 32,930 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $187.16, for a total value of $6,163,178.80. Following the completion of the sale, the executive vice president now directly owns 100,557 shares of the company’s stock, valued at approximately $18,820,248.12. The disclosure for this sale can be found here. Insiders have sold 48,459 shares of company stock valued at $9,079,802 in the last ninety days. 7.10% of the stock is currently owned by insiders.
Several brokerages recently weighed in on GD. Morgan Stanley dropped their price objective on General Dynamics from $173.00 to $172.00 and set an “underweight” rating for the company in a research report on Thursday, October 10th. Robert W. Baird upped their price objective on General Dynamics from $188.00 to $218.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 10th. Barclays set a $215.00 price objective on General Dynamics and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Zacks Investment Research upgraded General Dynamics from a “hold” rating to a “buy” rating and set a $203.00 price objective for the company in a research report on Monday, September 2nd. Finally, Cowen set a $202.00 price objective on General Dynamics and gave the stock a “buy” rating in a research report on Friday, August 30th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and seven have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $193.58.
General Dynamics Profile
General Dynamics Corporation operates as an aerospace and defense company worldwide. It operates in five segments: Aerospace, Combat Systems, Information Technology, Mission Systems, and Marine Systems. The Aerospace segment designs, manufactures, and supports business-jet aircraft; and offers business-aviation services, including maintenance, fixed-base operation, government fleet, aircraft management, charter, and staffing services, as well as integrated aviation solutions.
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