Agran Libbie increased its position in shares of General Dynamics Co. (NYSE:GD) by 7.4% during the first quarter, Holdings Channel reports. The fund owned 1,450 shares of the aerospace company’s stock after buying an additional 100 shares during the period. Agran Libbie’s holdings in General Dynamics were worth $271,000 at the end of the most recent reporting period.
Other institutional investors also recently added to or reduced their stakes in the company. Quadrant Capital Group LLC raised its position in shares of General Dynamics by 0.7% in the first quarter. Quadrant Capital Group LLC now owns 608 shares of the aerospace company’s stock valued at $108,000 after buying an additional 4 shares in the last quarter. First Command Bank acquired a new position in shares of General Dynamics during the fourth quarter valued at $125,000. Pinnacle Bank acquired a new position in shares of General Dynamics during the first quarter valued at $126,000. Archford Capital Strategies LLC raised its position in shares of General Dynamics by 74.2% in the fourth quarter. Archford Capital Strategies LLC now owns 810 shares of the aerospace company’s stock valued at $139,000 after buying an additional 345 shares in the last quarter. Finally, Norway Savings Bank acquired a new position in shares of General Dynamics during the fourth quarter valued at $157,000. Institutional investors and hedge funds own 87.35% of the company’s stock.
General Dynamics Co. (NYSE:GD) opened at 194.90 on Friday. The stock’s 50 day moving average price is $190.25 and its 200 day moving average price is $179.87. General Dynamics Co. has a one year low of $132.68 and a one year high of $197.00. The firm has a market capitalization of $58.81 billion, a PE ratio of 19.55 and a beta of 0.75.
General Dynamics (NYSE:GD) last announced its earnings results on Wednesday, April 26th. The aerospace company reported $2.48 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.32 by $0.16. General Dynamics had a net margin of 9.42% and a return on equity of 27.92%. The firm had revenue of $7.44 billion for the quarter, compared to analyst estimates of $7.70 billion. During the same quarter last year, the business earned $2.08 earnings per share. General Dynamics’s revenue was down .5% compared to the same quarter last year. Analysts expect that General Dynamics Co. will post $9.81 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, May 5th. Investors of record on Friday, April 7th were given a dividend of $0.84 per share. The ex-dividend date was Wednesday, April 5th. This represents a $3.36 dividend on an annualized basis and a yield of 1.72%. This is a positive change from General Dynamics’s previous quarterly dividend of $0.76. General Dynamics’s dividend payout ratio (DPR) is 31.90%.
Several brokerages recently weighed in on GD. Sanford C. Bernstein restated a “mkt perform” rating on shares of General Dynamics in a research note on Wednesday. Barclays PLC restated an “overweight” rating and issued a $210.00 price target (up previously from $200.00) on shares of General Dynamics in a research note on Monday, May 1st. Jefferies Group LLC restated a “buy” rating and issued a $220.00 price target (up previously from $200.00) on shares of General Dynamics in a research note on Friday, April 28th. Stifel Nicolaus lifted their price target on General Dynamics from $173.00 to $200.00 and gave the company a “hold” rating in a research note on Thursday, April 27th. Finally, Royal Bank of Canada lifted their price target on General Dynamics from $211.00 to $220.00 and gave the company an “outperform” rating in a research note on Thursday, April 27th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the company. General Dynamics presently has a consensus rating of “Buy” and a consensus price target of $198.98.
In related news, insider S. Daniel Johnson sold 5,219 shares of the firm’s stock in a transaction that occurred on Tuesday, February 21st. The shares were sold at an average price of $189.31, for a total transaction of $988,008.89. Following the sale, the insider now owns 65,243 shares in the company, valued at $12,351,152.33. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Mark Lagrand Burns sold 19,075 shares of the firm’s stock in a transaction that occurred on Wednesday, March 29th. The stock was sold at an average price of $187.89, for a total transaction of $3,584,001.75. Following the sale, the vice president now owns 48,453 shares in the company, valued at approximately $9,103,834.17. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 44,300 shares of company stock worth $8,366,195. 6.80% of the stock is owned by company insiders.
About General Dynamics
General Dynamics Corporation is a global aerospace and defense company. The Company offers a portfolio of products and services in business aviation; combat vehicles, weapons systems and munitions; information technology (IT) services and C4ISR (command, control, communications, computers, intelligence, surveillance and reconnaissance) solutions, and shipbuilding and ship repair.
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