General Dynamics Co. (NYSE:GD) Shares Bought by Norden Group LLC

Norden Group LLC grew its stake in shares of General Dynamics Co. (NYSE:GD) by 21.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,158 shares of the aerospace company’s stock after acquiring an additional 1,105 shares during the period. Norden Group LLC’s holdings in General Dynamics were worth $1,599,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Wellington Management Group LLP increased its stake in shares of General Dynamics by 12.0% during the 3rd quarter. Wellington Management Group LLP now owns 16,360,526 shares of the aerospace company’s stock worth $3,615,185,000 after purchasing an additional 1,755,276 shares in the last quarter. International Assets Investment Management LLC boosted its stake in shares of General Dynamics by 10,763.2% during the 4th quarter. International Assets Investment Management LLC now owns 923,593 shares of the aerospace company’s stock worth $239,829,000 after purchasing an additional 915,091 shares during the last quarter. California Public Employees Retirement System raised its position in shares of General Dynamics by 55.2% in the third quarter. California Public Employees Retirement System now owns 806,917 shares of the aerospace company’s stock valued at $178,304,000 after buying an additional 286,928 shares during the last quarter. FMR LLC grew its stake in General Dynamics by 13.7% in the 3rd quarter. FMR LLC now owns 2,293,269 shares of the aerospace company’s stock worth $506,744,000 after acquiring an additional 275,947 shares during the period. Finally, Boston Partners raised its holdings in General Dynamics by 12.7% in the 3rd quarter. Boston Partners now owns 1,763,878 shares of the aerospace company’s stock valued at $392,110,000 after acquiring an additional 198,185 shares during the last quarter. 86.14% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently commented on GD. Susquehanna upped their target price on General Dynamics from $301.00 to $333.00 and gave the company a “positive” rating in a research note on Friday, April 12th. Citigroup increased their price objective on shares of General Dynamics from $300.00 to $320.00 and gave the stock a “buy” rating in a report on Thursday, April 25th. The Goldman Sachs Group boosted their target price on shares of General Dynamics from $253.00 to $284.00 and gave the company a “neutral” rating in a report on Tuesday, April 16th. Royal Bank of Canada cut their price target on shares of General Dynamics from $325.00 to $320.00 and set an “outperform” rating on the stock in a research note on Thursday, April 25th. Finally, Wells Fargo & Company boosted their price objective on shares of General Dynamics from $291.00 to $322.00 and gave the company an “overweight” rating in a research note on Thursday, April 4th. Four investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, General Dynamics currently has an average rating of “Moderate Buy” and an average price target of $297.06.

General Dynamics Stock Up 0.4 %

NYSE GD traded up $1.18 during trading hours on Tuesday, reaching $288.97. 505,108 shares of the company traded hands, compared to its average volume of 1,108,822. The company has a 50 day moving average of $281.23 and a two-hundred day moving average of $262.41. The stock has a market capitalization of $79.28 billion, a PE ratio of 23.47, a PEG ratio of 1.77 and a beta of 0.68. General Dynamics Co. has a 12 month low of $202.35 and a 12 month high of $296.50. The company has a current ratio of 1.44, a quick ratio of 0.87 and a debt-to-equity ratio of 0.41.

General Dynamics (NYSE:GD) last announced its quarterly earnings data on Wednesday, April 24th. The aerospace company reported $2.88 earnings per share for the quarter, missing the consensus estimate of $2.89 by ($0.01). General Dynamics had a net margin of 7.85% and a return on equity of 16.48%. The firm had revenue of $10.73 billion during the quarter, compared to the consensus estimate of $10.26 billion. During the same period in the prior year, the firm earned $2.64 earnings per share. The firm’s quarterly revenue was up 8.6% compared to the same quarter last year. As a group, equities analysts expect that General Dynamics Co. will post 14.57 earnings per share for the current year.

General Dynamics Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 10th. Investors of record on Friday, April 12th will be paid a dividend of $1.42 per share. The ex-dividend date is Thursday, April 11th. This is a boost from General Dynamics’s previous quarterly dividend of $1.32. This represents a $5.68 annualized dividend and a yield of 1.97%. General Dynamics’s dividend payout ratio (DPR) is 46.33%.

About General Dynamics

General Dynamics Corporation operates as an aerospace and defense company worldwide. It operates through four segments: Aerospace, Marine Systems, Combat Systems, and Technologies. The Aerospace segment produces and sells business jets; and offers aircraft maintenance and repair, management, aircraft-on-ground support and completion, charter, staffing, and fixed-base operator services.