Bartlett & Co. LLC lifted its holdings in shares of General Dynamics Co. (NYSE:GD) by 23,850.0% in the third quarter, according to its most recent filing with the SEC. The firm owned 38,320 shares of the aerospace company’s stock after acquiring an additional 38,160 shares during the period. Bartlett & Co. LLC’s holdings in General Dynamics were worth $7,845,000 as of its most recent filing with the SEC.
Several other large investors have also added to or reduced their stakes in the company. Newport Trust Co lifted its holdings in General Dynamics by 0.3% during the 2nd quarter. Newport Trust Co now owns 21,068,046 shares of the aerospace company’s stock valued at $3,927,294,000 after purchasing an additional 66,593 shares during the last quarter. BlackRock Inc. lifted its holdings in General Dynamics by 1.1% during the 2nd quarter. BlackRock Inc. now owns 17,024,342 shares of the aerospace company’s stock valued at $3,173,507,000 after purchasing an additional 191,353 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec lifted its holdings in General Dynamics by 29.0% during the 2nd quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,243,297 shares of the aerospace company’s stock valued at $418,173,000 after purchasing an additional 504,326 shares during the last quarter. Bank of Montreal Can lifted its holdings in General Dynamics by 5.0% during the 3rd quarter. Bank of Montreal Can now owns 1,457,366 shares of the aerospace company’s stock valued at $298,353,000 after purchasing an additional 68,784 shares during the last quarter. Finally, Iridian Asset Management LLC CT lifted its holdings in General Dynamics by 1.6% during the 2nd quarter. Iridian Asset Management LLC CT now owns 1,324,996 shares of the aerospace company’s stock valued at $246,993,000 after purchasing an additional 20,314 shares during the last quarter. 85.41% of the stock is owned by institutional investors.
In other news, insider S. Daniel Johnson sold 77,810 shares of General Dynamics stock in a transaction that occurred on Friday, September 14th. The shares were sold at an average price of $199.85, for a total transaction of $15,550,328.50. Following the completion of the sale, the insider now owns 99,333 shares in the company, valued at approximately $19,851,700.05. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 6.90% of the stock is owned by insiders.
General Dynamics (NYSE:GD) last issued its quarterly earnings results on Wednesday, July 25th. The aerospace company reported $2.82 EPS for the quarter, topping the consensus estimate of $2.49 by $0.33. General Dynamics had a net margin of 9.16% and a return on equity of 27.06%. The company had revenue of $9.19 billion during the quarter, compared to analysts’ expectations of $9.09 billion. During the same quarter in the previous year, the company earned $2.45 EPS. General Dynamics’s revenue was up 19.7% on a year-over-year basis. On average, equities research analysts anticipate that General Dynamics Co. will post 11.22 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, November 9th. Stockholders of record on Friday, October 5th will be given a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a dividend yield of 1.93%. The ex-dividend date is Thursday, October 4th. General Dynamics’s dividend payout ratio is 37.39%.
GD has been the subject of a number of research analyst reports. ValuEngine raised shares of General Dynamics from a “sell” rating to a “hold” rating in a research note on Saturday, July 28th. Cowen reaffirmed a “buy” rating and issued a $253.00 target price on shares of General Dynamics in a research note on Monday. Bank of America set a $275.00 target price on shares of General Dynamics and gave the stock a “buy” rating in a research note on Tuesday, July 31st. UBS Group initiated coverage on shares of General Dynamics in a research note on Wednesday, August 15th. They issued a “neutral” rating and a $210.00 target price for the company. Finally, Drexel Hamilton reaffirmed a “buy” rating and issued a $230.00 target price on shares of General Dynamics in a research note on Thursday, August 16th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and ten have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $241.12.
General Dynamics Company Profile
General Dynamics Corporation operates as an aerospace and defense company worldwide. It operates through four business groups: Aerospace; Combat Systems; Information Systems and Technology; and Marine Systems. The Aerospace group designs, develops, manufactures, service and supports business-jet aircraft; and provides aircraft services, such as maintenance, aircraft management, charter, fixed-base operational, and staffing services.
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