Louisiana State Employees Retirement System lowered its stake in shares of General Dynamics Co. (NYSE:GD) by 3.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 16,800 shares of the aerospace company’s stock after selling 600 shares during the quarter. Louisiana State Employees Retirement System’s holdings in General Dynamics were worth $3,418,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors also recently made changes to their positions in GD. Principal Financial Group Inc. increased its position in shares of General Dynamics by 3.7% during the second quarter. Principal Financial Group Inc. now owns 429,619 shares of the aerospace company’s stock valued at $85,107,000 after buying an additional 15,311 shares during the period. Gratus Capital LLC bought a new stake in General Dynamics during the second quarter worth about $226,000. Good Life Advisors LLC boosted its stake in General Dynamics by 3.6% during the second quarter. Good Life Advisors LLC now owns 1,444 shares of the aerospace company’s stock worth $291,000 after acquiring an additional 50 shares in the last quarter. NBT Bank N A NY boosted its stake in General Dynamics by 9.0% during the second quarter. NBT Bank N A NY now owns 4,535 shares of the aerospace company’s stock worth $898,000 after acquiring an additional 375 shares in the last quarter. Finally, Atwood & Palmer Inc. bought a new stake in General Dynamics during the second quarter worth about $198,000. Institutional investors own 86.76% of the company’s stock.
Several equities research analysts recently commented on GD shares. Royal Bank of Canada set a $239.00 price objective on shares of General Dynamics and gave the stock a “buy” rating in a research note on Wednesday, November 15th. Cowen reissued a “buy” rating and set a $230.00 price objective on shares of General Dynamics in a research note on Thursday, October 19th. Deutsche Bank reissued a “hold” rating and set a $210.00 price objective (up previously from $200.00) on shares of General Dynamics in a research note on Monday, October 2nd. ValuEngine lowered shares of General Dynamics from a “buy” rating to a “hold” rating in a research note on Thursday, November 30th. Finally, Stifel Nicolaus boosted their price objective on shares of General Dynamics from $200.00 to $210.00 and gave the stock a “hold” rating in a research note on Thursday, October 26th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and nine have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $218.92.
Shares of General Dynamics Co. (NYSE GD) traded up $5.08 during mid-day trading on Tuesday, reaching $210.59. 1,892,600 shares of the company’s stock were exchanged, compared to its average volume of 1,434,133. General Dynamics Co. has a twelve month low of $172.43 and a twelve month high of $214.81. The stock has a market capitalization of $63,050.00, a PE ratio of 20.91, a P/E/G ratio of 2.27 and a beta of 0.72. The company has a current ratio of 1.37, a quick ratio of 0.93 and a debt-to-equity ratio of 0.34.
General Dynamics (NYSE:GD) last announced its earnings results on Wednesday, October 25th. The aerospace company reported $2.52 EPS for the quarter, beating the Zacks’ 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 business had revenue of $7.58 billion during the quarter, compared to analysts’ expectations of $7.94 billion. During the same period in the prior year, the company earned $2.36 earnings per share. The firm’s revenue was down 1.0% on a year-over-year basis. sell-side analysts predict that General Dynamics Co. will post 9.8 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, February 9th. Shareholders of record on Friday, January 19th will be issued a dividend of $0.84 per share. The ex-dividend date is 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 33.37%.
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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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