Prime Capital Investment Advisors LLC acquired a new position in General Dynamics Co. (NYSE:GD) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 660 shares of the aerospace company’s stock, valued at approximately $112,000.
Other hedge funds have also recently bought and sold shares of the company. Financial Gravity Companies Inc. acquired a new stake in General Dynamics in the 4th quarter worth about $25,000. We Are One Seven LLC acquired a new stake in General Dynamics in the 4th quarter worth about $27,000. Aspire Private Capital LLC acquired a new stake in General Dynamics in the 4th quarter worth about $29,000. CX Institutional acquired a new stake in General Dynamics in the 1st quarter worth about $45,000. Finally, Athena Capital Advisors LLC acquired a new stake in General Dynamics in the 4th quarter worth about $46,000. Institutional investors own 87.27% of the company’s stock.
Several equities research analysts recently issued reports on GD shares. Jefferies Financial Group cut General Dynamics from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $197.00 to $164.00 in a report on Tuesday, January 8th. Zacks Investment Research upgraded General Dynamics from a “sell” rating to a “hold” rating in a report on Tuesday, February 12th. Citigroup lowered their price objective on General Dynamics from $195.00 to $175.00 and set a “neutral” rating on the stock in a report on Monday, January 14th. Credit Suisse Group reiterated a “buy” rating and issued a $190.00 price objective on shares of General Dynamics in a report on Monday, January 14th. Finally, Drexel Hamilton reiterated a “buy” rating and issued a $230.00 price objective on shares of General Dynamics in a report on Monday, February 4th. Four investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $204.43.
General Dynamics (NYSE:GD) last released its earnings results on Wednesday, January 30th. The aerospace company reported $3.07 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.98 by $0.09. General Dynamics had a net margin of 9.24% and a return on equity of 28.33%. The business had revenue of $10.38 billion for the quarter, compared to analyst estimates of $10.34 billion. During the same period last year, the company posted $2.50 EPS. The business’s revenue was up 25.4% on a year-over-year basis. Sell-side analysts forecast that General Dynamics Co. will post 11.72 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, May 10th. Shareholders of record on Friday, April 12th will be paid a $1.02 dividend. This represents a $4.08 dividend on an annualized basis and a yield of 2.35%. This is a positive change from General Dynamics’s previous quarterly dividend of $0.93. The ex-dividend date of this dividend is Thursday, April 11th. General Dynamics’s dividend payout ratio (DPR) is 35.73%.
In other news, VP Gary L. Whited sold 14,640 shares of General Dynamics stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $165.38, for a total transaction of $2,421,163.20. Following the sale, the vice president now owns 30,462 shares of the company’s stock, valued at approximately $5,037,805.56. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Lester L. Lyles sold 4,580 shares of General Dynamics stock in a transaction that occurred on Friday, February 22nd. The shares were sold at an average price of $172.42, for a total transaction of $789,683.60. Following the sale, the director now directly owns 12,314 shares in the company, valued at approximately $2,123,179.88. The disclosure for this sale can be found here. Insiders sold a total of 21,547 shares of company stock worth $3,609,299 over the last three months. Corporate insiders own 7.10% of the company’s stock.
General Dynamics Profile
General Dynamics Corporation operates as an aerospace and defense company worldwide. It operates in five segments: Aerospace, Combat Systems, Information Technology, Mission Systems, and Marine Systems. The Aerospace segment designs, manufactures, and supports business-jet aircraft; and offers business-aviation services, including maintenance, fixed-base operation, government fleet, aircraft management, charter, and staffing services, as well as integrated aviation solutions.
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