Wedbush Securities Inc. increased its position in General Dynamics Co. (NYSE:GD) by 1.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,091 shares of the aerospace company’s stock after acquiring an additional 222 shares during the quarter. Wedbush Securities Inc.’s holdings in General Dynamics were worth $2,575,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently made changes to their positions in GD. Nuveen Asset Management LLC raised its holdings in General Dynamics by 852.6% in the 2nd quarter. Nuveen Asset Management LLC now owns 1,044,973 shares of the aerospace company’s stock worth $189,997,000 after acquiring an additional 935,275 shares during the period. Thoroughbred Financial Services LLC raised its holdings in General Dynamics by 18,507.6% in the 2nd quarter. Thoroughbred Financial Services LLC now owns 926,285 shares of the aerospace company’s stock worth $92,628,000 after acquiring an additional 921,307 shares during the period. Impala Asset Management LLC bought a new position in General Dynamics in the 2nd quarter worth $94,759,000. Caisse DE Depot ET Placement DU Quebec raised its holdings in General Dynamics by 11.4% in the 2nd quarter. Caisse DE Depot ET Placement DU Quebec now owns 3,748,497 shares of the aerospace company’s stock worth $681,552,000 after acquiring an additional 383,200 shares during the period. Finally, Farallon Capital Management LLC raised its holdings in General Dynamics by 23.5% in the 2nd quarter. Farallon Capital Management LLC now owns 1,335,214 shares of the aerospace company’s stock worth $242,769,000 after acquiring an additional 253,726 shares during the period. Hedge funds and other institutional investors own 86.26% of the company’s stock.
NYSE GD traded down $2.22 during midday trading on Friday, hitting $174.54. The company had a trading volume of 520,130 shares, compared to its average volume of 1,486,880. The company has a quick ratio of 0.73, a current ratio of 1.09 and a debt-to-equity ratio of 0.70. The stock has a market cap of $51.54 billion, a price-to-earnings ratio of 15.28, a P/E/G ratio of 1.72 and a beta of 1.20. The firm has a fifty day simple moving average of $184.80 and a two-hundred day simple moving average of $178.80. General Dynamics Co. has a fifty-two week low of $143.87 and a fifty-two week high of $193.76.
The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 11th will be given a dividend of $1.02 per share. The ex-dividend date of this dividend is Thursday, October 10th. This represents a $4.08 annualized dividend and a dividend yield of 2.34%. General Dynamics’s dividend payout ratio (DPR) is currently 35.73%.
In other General Dynamics news, VP Mark Lagrand Burns bought 159 shares of the firm’s stock in a transaction dated Friday, August 9th. The shares were acquired at an average cost of $179.56 per share, for a total transaction of $28,550.04. Following the transaction, the vice president now owns 39,643 shares in the company, valued at $7,118,297.08. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Gary L. Whited sold 14,029 shares of General Dynamics stock in a transaction dated Tuesday, July 30th. The shares were sold at an average price of $188.38, for a total transaction of $2,642,783.02. Following the sale, the vice president now owns 37,542 shares in the company, valued at $7,072,161.96. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 48,459 shares of company stock worth $9,079,802. 7.10% of the stock is owned by company insiders.
Several brokerages recently commented on GD. Zacks Investment Research upgraded shares of General Dynamics from a “hold” rating to a “buy” rating and set a $203.00 target price on the stock in a report on Monday, September 2nd. Robert W. Baird lifted their target price on shares of General Dynamics from $188.00 to $218.00 and gave the stock an “outperform” rating in a report on Wednesday, July 10th. Barclays set a $215.00 price target on shares of General Dynamics and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Morgan Stanley decreased their price target on shares of General Dynamics from $173.00 to $172.00 and set an “underweight” rating on the stock in a research report on Thursday, October 10th. Finally, Cowen set a $202.00 price target on shares of General Dynamics and gave the stock a “buy” rating in a research report on Friday, August 30th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and seven have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $193.58.
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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