Cim Investment Mangement Inc. lowered its stake in shares of General Dynamics Co. (NYSE:GD) by 3.8% during the fourth quarter, Holdings Channel reports. The fund owned 5,010 shares of the aerospace company’s stock after selling 198 shares during the quarter. Cim Investment Mangement Inc.’s holdings in General Dynamics were worth $788,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently bought and sold shares of GD. Cambridge Investment Research Advisors Inc. lifted its position in General Dynamics by 2.2% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 25,679 shares of the aerospace company’s stock worth $4,037,000 after buying an additional 564 shares during the period. Grandview Asset Management LLC purchased a new position in General Dynamics during the fourth quarter worth about $464,000. One Capital Management LLC lifted its position in General Dynamics by 1.9% during the fourth quarter. One Capital Management LLC now owns 13,240 shares of the aerospace company’s stock worth $2,082,000 after buying an additional 253 shares during the period. Capital Investment Advisory Services LLC purchased a new position in General Dynamics during the fourth quarter worth about $94,000. Finally, Empire Life Investments Inc. lifted its position in General Dynamics by 0.5% during the fourth quarter. Empire Life Investments Inc. now owns 80,193 shares of the aerospace company’s stock worth $12,607,000 after buying an additional 426 shares during the period. 89.04% of the stock is currently owned by institutional investors and hedge funds.
In other General Dynamics news, Director Catherine B. Reynolds bought 600 shares of the business’s stock in a transaction on Friday, December 7th. The shares were purchased at an average price of $167.64 per share, with a total value of $100,584.00. Following the purchase, the director now directly owns 1,153 shares of the company’s stock, valued at $193,288.92. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Christopher J. Brady sold 2,327 shares of General Dynamics stock in a transaction on Monday, February 4th. The shares were sold at an average price of $171.23, for a total value of $398,452.21. Following the sale, the vice president now directly owns 5,134 shares in the company, valued at approximately $879,094.82. The disclosure for this sale can be found here. Company insiders own 6.90% of the company’s stock.
General Dynamics (NYSE:GD) last issued its earnings results on Wednesday, January 30th. The aerospace company reported $3.07 EPS for the quarter, topping the consensus estimate of $2.98 by $0.09. The company had revenue of $10.38 billion during the quarter, compared to analyst estimates of $10.34 billion. General Dynamics had a return on equity of 28.33% and a net margin of 9.24%. The business’s revenue was up 25.4% on a year-over-year basis. During the same quarter last year, the firm earned $2.50 EPS. Equities analysts expect that General Dynamics Co. will post 11.73 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, February 8th. Investors of record on Friday, January 18th were issued a $0.93 dividend. This represents a $3.72 annualized dividend and a dividend yield of 2.16%. The ex-dividend date was Thursday, January 17th. General Dynamics’s dividend payout ratio (DPR) is 32.57%.
GD has been the topic of a number of research reports. Cowen restated a “buy” rating and issued a $253.00 price objective on shares of General Dynamics in a report on Monday, October 15th. Credit Suisse Group restated a “buy” rating and issued a $190.00 price objective on shares of General Dynamics in a report on Monday, January 14th. FIG Partners upgraded General Dynamics to an “add” rating in a report on Tuesday, January 8th. Wells Fargo & Co cut their price objective on General Dynamics from $250.00 to $210.00 and set an “outperform” rating on the stock in a report on Thursday, October 25th. Finally, Barclays cut their price objective on General Dynamics from $256.00 to $210.00 and set an “overweight” rating on the stock in a report on Tuesday, December 4th. Four research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the company. General Dynamics has an average rating of “Hold” and a consensus price target of $208.23.
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About General Dynamics
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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