Denali Advisors LLC bought a new stake in shares of General Dynamics Co. (NYSE:GD) in the third quarter, Holdings Channel.com reports. The firm bought 36,600 shares of the aerospace company’s stock, valued at approximately $5,067,000.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Public Employees Retirement Association of Colorado boosted its position in General Dynamics by 6.4% during the 1st quarter. Public Employees Retirement Association of Colorado now owns 46,314 shares of the aerospace company’s stock worth $6,128,000 after acquiring an additional 2,787 shares during the period. CIBC World Markets Inc. lifted its holdings in General Dynamics by 0.8% in the first quarter. CIBC World Markets Inc. now owns 17,973 shares of the aerospace company’s stock worth $2,378,000 after purchasing an additional 146 shares during the period. Procyon Private Wealth Partners LLC lifted its holdings in General Dynamics by 13.7% in the first quarter. Procyon Private Wealth Partners LLC now owns 870 shares of the aerospace company’s stock worth $115,000 after purchasing an additional 105 shares during the period. Morgan Stanley grew its position in General Dynamics by 4.8% in the 1st quarter. Morgan Stanley now owns 1,118,194 shares of the aerospace company’s stock valued at $147,947,000 after buying an additional 51,292 shares in the last quarter. Finally, Schroder Investment Management Group increased its stake in General Dynamics by 171.7% during the 1st quarter. Schroder Investment Management Group now owns 8,564 shares of the aerospace company’s stock valued at $1,145,000 after buying an additional 5,412 shares during the period. Hedge funds and other institutional investors own 84.98% of the company’s stock.
NYSE GD traded up $1.43 on Friday, hitting $142.24. 2,653,296 shares of the company were exchanged, compared to its average volume of 1,691,205. General Dynamics Co. has a twelve month low of $100.55 and a twelve month high of $190.08. The company’s 50 day moving average price is $144.54 and its 200-day moving average price is $144.00. The firm has a market capitalization of $40.81 billion, a P/E ratio of 12.63, a price-to-earnings-growth ratio of 2.52 and a beta of 1.02. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.27 and a quick ratio of 0.87.
The firm also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Friday, October 9th will be issued a $1.10 dividend. The ex-dividend date is Thursday, October 8th. This represents a $4.40 dividend on an annualized basis and a dividend yield of 3.09%. General Dynamics’s payout ratio is currently 36.73%.
Several research analysts have recently issued reports on GD shares. Royal Bank of Canada increased their price objective on shares of General Dynamics from $157.00 to $164.00 and gave the company an “outperform” rating in a report on Thursday, July 30th. Jefferies Financial Group reaffirmed a “hold” rating and set a $160.00 price target on shares of General Dynamics in a research note on Tuesday, August 11th. Goldman Sachs Group cut General Dynamics from a “buy” rating to a “sell” rating and lowered their price target for the company from $205.00 to $138.00 in a research report on Thursday, September 17th. Stifel Nicolaus cut their price objective on General Dynamics from $180.00 to $160.00 and set a “hold” rating for the company in a report on Thursday, July 30th. Finally, Robert W. Baird lowered General Dynamics from an “outperform” rating to a “neutral” rating and lowered their target price for the stock from $167.00 to $149.00 in a report on Friday, October 2nd. Three analysts have rated the stock with a sell rating, six have issued a hold rating and eight have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $173.19.
In other news, VP William A. Moss sold 4,778 shares of General Dynamics stock in a transaction on Thursday, September 24th. The stock was sold at an average price of $136.68, for a total transaction of $653,057.04. Following the transaction, the vice president now owns 12,241 shares in the company, valued at $1,673,099.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 6.60% of the company’s stock.
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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