DUPONT CAPITAL MANAGEMENT Corp lowered its position in General Dynamics Co. (NYSE:GD) by 14.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 69,770 shares of the aerospace company’s stock after selling 11,870 shares during the period. DUPONT CAPITAL MANAGEMENT Corp’s holdings in General Dynamics were worth $13,061,000 at the end of the most recent quarter.
A number of other large investors also recently modified their holdings of GD. Quadrant Capital Group LLC raised its stake 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 worth $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 about $125,000. Pinnacle Bank acquired a new position in shares of General Dynamics during the first quarter valued at about $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 during the period. Finally, Norway Savings Bank acquired a new position in shares of General Dynamics during the fourth quarter valued at about $157,000. 87.35% of the stock is currently owned by hedge funds and other institutional investors.
Shares of General Dynamics Co. (NYSE:GD) opened at 194.594 on Friday. The stock has a 50 day moving average of $190.25 and a 200-day moving average of $179.87. General Dynamics Co. has a 12-month low of $132.68 and a 12-month high of $197.00. The firm has a market capitalization of $58.72 billion, a P/E ratio of 19.516 and a beta of 0.75.
General Dynamics (NYSE:GD) last released its quarterly earnings results on Wednesday, April 26th. The aerospace company reported $2.48 EPS for the quarter, beating analysts’ consensus estimates of $2.32 by $0.16. The business had revenue of $7.44 billion during the quarter, compared to analyst estimates of $7.70 billion. General Dynamics had a return on equity of 27.92% and a net margin of 9.42%. General Dynamics’s quarterly revenue was down .5% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.08 EPS. On average, equities research analysts predict that General Dynamics Co. will post $9.81 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, May 5th. Stockholders of record on Friday, April 7th were given a dividend of $0.84 per share. The ex-dividend date was Wednesday, April 5th. This is a positive change from General Dynamics’s previous quarterly dividend of $0.76. This represents a $3.36 annualized dividend and a dividend yield of 1.72%. General Dynamics’s dividend payout ratio (DPR) is currently 31.90%.
GD has been the topic of several recent research reports. Royal Bank of Canada initiated coverage on shares of General Dynamics in a research note on Thursday, January 12th. They issued an “outperform” rating and a $206.00 target price on the stock. Zacks Investment Research lowered shares of General Dynamics from a “buy” rating to a “hold” rating in a research note on Thursday, January 12th. Robert W. Baird reaffirmed an “outperform” rating and issued a $215.00 target price on shares of General Dynamics in a research note on Friday, January 20th. Vetr raised shares of General Dynamics from a “buy” rating to a “strong-buy” rating and set a $196.87 target price on the stock in a research note on Wednesday, January 25th. Finally, Stifel Nicolaus raised their target price on shares of General Dynamics from $166.00 to $173.00 and gave the company a “hold” rating in a research note on Monday, January 30th. One research analyst has rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the company’s stock. General Dynamics currently has a consensus rating of “Buy” and a consensus target price of $198.98.
In other news, insider S. Daniel Johnson sold 5,219 shares of the firm’s stock in a transaction on Tuesday, February 21st. The stock was sold at an average price of $189.31, for a total transaction of $988,008.89. Following the completion of the sale, the insider now directly owns 65,243 shares of the company’s stock, valued at approximately $12,351,152.33. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Mark Lagrand Burns sold 19,075 shares of the firm’s stock in a transaction on Wednesday, March 29th. The shares were sold at an average price of $187.89, for a total value of $3,584,001.75. Following the sale, the vice president now directly owns 48,453 shares of the company’s stock, valued at $9,103,834.17. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 44,300 shares of company stock valued at $8,366,195. Insiders own 6.80% of the company’s stock.
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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