AMP Capital Investors Ltd lifted its stake in General Dynamics Corporation (NYSE:GD) by 17.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 17,630 shares of the aerospace company’s stock after acquiring an additional 2,596 shares during the period. AMP Capital Investors Ltd’s holdings in General Dynamics were worth $3,624,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Global X Management Co. LLC grew its stake in General Dynamics by 17.4% during the 2nd quarter. Global X Management Co. LLC now owns 891 shares of the aerospace company’s stock worth $177,000 after buying an additional 132 shares during the last quarter. LMR Partners LLP purchased a new position in General Dynamics in the 2nd quarter valued at about $4,077,000. Morningstar Investment Services LLC boosted its position in General Dynamics by 24.1% in the 2nd quarter. Morningstar Investment Services LLC now owns 180,680 shares of the aerospace company’s stock valued at $35,793,000 after buying an additional 35,034 shares during the last quarter. Jones Collombin Investment Counsel Inc purchased a new position in General Dynamics in the 2nd quarter valued at about $3,337,000. Finally, ETRADE Capital Management LLC boosted its position in General Dynamics by 38.0% in the 3rd quarter. ETRADE Capital Management LLC now owns 2,337 shares of the aerospace company’s stock valued at $481,000 after buying an additional 643 shares during the last quarter. 86.87% of the stock is owned by hedge funds and other institutional investors.
A number of brokerages have recently issued reports on GD. J P Morgan Chase & Co lowered shares of General Dynamics from a “neutral” rating to an “underweight” rating and cut their target price for the company from $225.00 to $215.00 in a research note on Tuesday, December 12th. ValuEngine lowered shares of General Dynamics from a “buy” rating to a “hold” rating in a research note on Thursday, November 30th. Royal Bank of Canada set a $239.00 target price on shares of General Dynamics and gave the company a “buy” rating in a research note on Wednesday, November 15th. Zacks Investment Research lowered shares of General Dynamics from a “buy” rating to a “hold” rating in a research note on Friday, October 27th. Finally, Cowen reiterated a “buy” rating and set a $230.00 price objective on shares of General Dynamics in a research note on Thursday, October 26th. Three analysts have rated the stock with a sell rating, five have issued a hold rating and nine have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $218.24.
Shares of General Dynamics Corporation (GD) opened at $198.84 on Friday. General Dynamics Corporation has a 12 month low of $171.65 and a 12 month high of $214.81. The company has a market cap of $59,377.41, a P/E ratio of 19.75, a price-to-earnings-growth ratio of 2.38 and a beta of 0.72. The company has a quick ratio of 0.93, a current ratio of 1.37 and a debt-to-equity ratio of 0.34.
General Dynamics (NYSE:GD) last announced its quarterly earnings results on Wednesday, October 25th. The aerospace company reported $2.52 EPS for the quarter, beating the consensus estimate of $2.43 by $0.09. General Dynamics had a net margin of 9.94% and a return on equity of 27.98%. The company had revenue of $7.58 billion for the quarter, compared to analyst estimates of $7.94 billion. During the same quarter last year, the business earned $2.36 earnings per share. General Dynamics’s revenue was down 1.0% compared to the same quarter last year. equities research analysts forecast that General Dynamics Corporation will post 9.81 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 9th. Stockholders of record on Friday, January 19th will be issued a $0.84 dividend. This represents a $3.36 annualized dividend and a dividend yield of 1.69%. The ex-dividend date of this dividend is Thursday, January 18th. General Dynamics’s dividend payout ratio (DPR) is presently 33.50%.
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General Dynamics Company Profile
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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