One Capital Management LLC boosted its holdings in shares of General Dynamics Co. (NYSE:GD) by 2.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 12,987 shares of the aerospace company’s stock after buying an additional 338 shares during the quarter. One Capital Management LLC’s holdings in General Dynamics were worth $2,659,000 at the end of the most recent quarter.
Other institutional investors have also bought and sold shares of the company. Newport Trust Co boosted its holdings in General Dynamics by 0.3% during the second quarter. Newport Trust Co now owns 21,068,046 shares of the aerospace company’s stock valued at $3,927,294,000 after acquiring an additional 66,593 shares during the period. BlackRock Inc. boosted its holdings in General Dynamics by 1.1% during the second quarter. BlackRock Inc. now owns 17,024,342 shares of the aerospace company’s stock valued at $3,173,507,000 after acquiring an additional 191,353 shares during the period. Caisse DE Depot ET Placement DU Quebec boosted its holdings in General Dynamics by 29.0% during the second 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 acquiring an additional 504,326 shares during the period. Aristotle Capital Management LLC boosted its holdings in General Dynamics by 3.8% during the first quarter. Aristotle Capital Management LLC now owns 1,577,319 shares of the aerospace company’s stock valued at $348,430,000 after acquiring an additional 57,762 shares during the period. Finally, Bank of Montreal Can bought a new stake in General Dynamics during the second quarter valued at about $258,844,000. 85.41% of the stock is currently owned by hedge funds and other institutional investors.
GD has been the subject of a number of recent analyst reports. Barclays restated an “overweight” rating and set a $256.00 price target on shares of General Dynamics in a report on Thursday, June 14th. JPMorgan Chase & Co. reiterated an “underweight” rating and issued a $225.00 target price on shares of General Dynamics in a research note on Thursday, June 14th. ValuEngine cut shares of General Dynamics from a “hold” rating to a “sell” rating in a research note on Monday, June 18th. Morgan Stanley reduced their target price on shares of General Dynamics from $215.00 to $207.00 and set an “underweight” rating for the company in a research note on Friday, June 22nd. Finally, Zacks Investment Research cut shares of General Dynamics from a “hold” rating to a “sell” rating in a research note on Tuesday, June 26th. Three analysts have rated the stock with a sell rating, five have given a hold rating and ten have issued a buy rating to the stock. General Dynamics has an average rating of “Hold” and a consensus price target of $241.12.
General Dynamics (NYSE:GD) last released its earnings results on Wednesday, July 25th. The aerospace company reported $2.82 earnings per share for the quarter, beating the Thomson Reuters’ 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 business had revenue of $9.19 billion during the quarter, compared to analysts’ expectations of $9.09 billion. During the same quarter last year, the company earned $2.45 earnings per share. The firm’s revenue was up 19.7% on a year-over-year basis. As a group, sell-side 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. Shareholders of record on Friday, October 5th will be paid a dividend of $0.93 per share. This represents a $3.72 dividend on an annualized basis and a yield of 1.80%. The ex-dividend date is Thursday, October 4th. General Dynamics’s dividend payout ratio is 37.39%.
In other General Dynamics news, insider John Patrick Casey sold 22,500 shares of the firm’s stock in a transaction dated Monday, July 16th. The shares were sold at an average price of $191.99, for a total transaction of $4,319,775.00. Following the completion of the transaction, the insider now owns 118,555 shares in the company, valued at $22,761,374.45. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider S. Daniel Johnson sold 77,810 shares of the firm’s stock in a transaction dated Friday, September 14th. The stock was sold at an average price of $199.85, for a total transaction of $15,550,328.50. Following the transaction, the insider now owns 99,333 shares of the company’s stock, valued at approximately $19,851,700.05. The disclosure for this sale can be found here. 6.90% of the stock is owned by company insiders.
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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