Wetherby Asset Management Inc. reduced its position in shares of General Dynamics Co. (NYSE:GD) by 3.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,883 shares of the aerospace company’s stock after selling 122 shares during the period. Wetherby Asset Management Inc.’s holdings in General Dynamics were worth $727,000 at the end of the most recent quarter.
A number of other large investors also recently added to or reduced their stakes in the stock. Quadrant Capital Group LLC raised its stake in 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 during the last quarter. First Command Bank bought a new stake in General Dynamics during the fourth quarter worth approximately $125,000. Pinnacle Bank bought a new stake in General Dynamics during the first quarter worth approximately $126,000. Archford Capital Strategies LLC raised its stake in General Dynamics by 74.2% in the fourth quarter. Archford Capital Strategies LLC now owns 810 shares of the aerospace company’s stock worth $139,000 after buying an additional 345 shares during the last quarter. Finally, Norway Savings Bank bought a new stake in General Dynamics during the fourth quarter worth approximately $157,000. 87.35% of the stock is owned by institutional investors and hedge funds.
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 1-year low of $132.68 and a 1-year high of $197.00. The company has a market cap of $58.81 billion, a P/E ratio of 19.55 and a beta of 0.75.
General Dynamics (NYSE:GD) last posted its quarterly earnings data 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 company had revenue of $7.44 billion during the quarter, compared to analysts’ expectations of $7.70 billion. General Dynamics had a return on equity of 27.92% and a net margin of 9.42%. General Dynamics’s revenue for the quarter was down .5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.08 earnings per share. On average, equities analysts anticipate that General Dynamics Co. will post $9.81 earnings per share for the current fiscal year.
The company also recently disclosed 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. This represents a $3.36 dividend on an annualized basis and a yield of 1.72%. The ex-dividend date was Wednesday, April 5th. This is a boost from General Dynamics’s previous quarterly dividend of $0.76. General Dynamics’s dividend payout ratio is 31.90%.
GD has been the subject of a number of analyst reports. Zacks Investment Research raised General Dynamics from a “hold” rating to a “buy” rating and set a $198.00 target price for the company in a research report on Friday, January 13th. Jefferies Group LLC reaffirmed a “buy” rating and set a $200.00 target price on shares of General Dynamics in a research report on Tuesday, April 18th. Vetr raised General Dynamics from a “sell” rating to a “hold” rating and set a $183.78 target price for the company in a research report on Monday, March 27th. Finally, Stifel Nicolaus raised their target price on General Dynamics from $166.00 to $173.00 and gave the company a “hold” rating in a research report on Monday, January 30th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have given a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $198.98.
In other General Dynamics news, Director William P. Fricks sold 10,146 shares of the company’s stock in a transaction dated Thursday, March 2nd. The stock was sold at an average price of $191.19, for a total value of $1,939,813.74. Following the completion of the sale, the director now owns 43,856 shares in the company, valued at $8,384,828.64. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Mark Lagrand Burns sold 19,075 shares of the company’s stock in a transaction dated Wednesday, March 29th. The stock was sold at an average price of $187.89, for a total value of $3,584,001.75. Following the completion of the sale, the vice president now owns 48,453 shares of the company’s stock, valued at approximately $9,103,834.17. The disclosure for this sale can be found here. In the last quarter, insiders have sold 44,300 shares of company stock valued at $8,366,195. 6.80% of the stock is owned by company insiders.
General Dynamics Company Profile
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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