Virtue Capital Management LLC purchased a new stake in General Dynamics Co. (NYSE:GD) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 1,661 shares of the aerospace company’s stock, valued at approximately $338,000.
A number of other institutional investors and hedge funds have also modified their holdings of the business. Stonebridge Capital Management Inc. lifted its stake in General Dynamics by 0.7% in the fourth quarter. Stonebridge Capital Management Inc. now owns 32,173 shares of the aerospace company’s stock valued at $6,776,000 after buying an additional 223 shares during the period. Advisor Partners LLC lifted its stake in General Dynamics by 4.4% in the fourth quarter. Advisor Partners LLC now owns 5,412 shares of the aerospace company’s stock valued at $1,132,000 after buying an additional 229 shares during the period. Royce & Associates LP lifted its stake in General Dynamics by 1.0% in the third quarter. Royce & Associates LP now owns 24,750 shares of the aerospace company’s stock valued at $5,088,000 after buying an additional 250 shares during the period. Clear Perspective Advisors LLC lifted its stake in General Dynamics by 8.1% in the fourth quarter. Clear Perspective Advisors LLC now owns 3,355 shares of the aerospace company’s stock valued at $683,000 after buying an additional 252 shares during the period. Finally, FTB Advisors Inc. lifted its stake in General Dynamics by 4.1% in the fourth quarter. FTB Advisors Inc. now owns 6,481 shares of the aerospace company’s stock valued at $1,318,000 after buying an additional 258 shares during the period. 93.40% of the stock is currently owned by hedge funds and other institutional investors.
Several equities analysts have issued reports on GD shares. Jefferies Group reissued a “buy” rating and issued a $237.00 price target on shares of General Dynamics in a research note on Monday, January 8th. Royal Bank of Canada set a $239.00 target price on General Dynamics and gave the stock a “buy” rating in a research report on Wednesday, November 15th. Bank of America upped their target price on General Dynamics from $245.00 to $260.00 and gave the stock a “buy” rating in a research report on Thursday, January 25th. Zacks Investment Research raised General Dynamics from a “hold” rating to a “buy” rating and set a $234.00 target price on the stock in a research report on Friday, January 19th. Finally, Buckingham Research reaffirmed a “buy” rating and set a $260.00 target price (up from $230.00) on shares of General Dynamics in a research report on Tuesday, January 30th. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and fourteen have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $235.88.
General Dynamics (NYSE:GD) last released its quarterly earnings results on Wednesday, January 24th. The aerospace company reported $2.50 EPS for the quarter, beating analysts’ consensus estimates of $2.37 by $0.13. The business had revenue of $8.28 billion during the quarter, compared to analyst estimates of $8.40 billion. General Dynamics had a return on equity of 27.22% and a net margin of 9.40%. General Dynamics’s quarterly revenue was up 8.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.89 EPS. equities analysts anticipate that General Dynamics Co. will post 11.09 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, May 11th. Investors of record on Friday, April 13th will be given a $0.93 dividend. This is a positive change from General Dynamics’s previous quarterly dividend of $0.84. This represents a $3.72 dividend on an annualized basis and a yield of 1.62%. The ex-dividend date is Thursday, April 12th. General Dynamics’s dividend payout ratio is presently 35.18%.
In other General Dynamics news, Director Lester L. Lyles sold 5,210 shares of the company’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $220.73, for a total value of $1,150,003.30. Following the completion of the transaction, the director now owns 12,537 shares in the company, valued at approximately $2,767,292.01. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Gary L. Whited sold 5,977 shares of the company’s stock in a transaction on Tuesday, March 6th. The shares were sold at an average price of $224.52, for a total value of $1,341,956.04. The disclosure for this sale can be found here. Insiders sold a total of 22,291 shares of company stock valued at $4,884,592 over the last three months. 6.70% of the stock is currently owned by insiders.
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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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