California Public Employees Retirement System lifted its stake in General Dynamics Co. (NYSE:GD) by 0.3% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 725,058 shares of the aerospace company’s stock after acquiring an additional 2,147 shares during the quarter. California Public Employees Retirement System owned 0.24% of General Dynamics worth $149,057,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Virtu Financial LLC bought a new position in shares of General Dynamics in the third quarter worth approximately $233,000. Janney Montgomery Scott LLC lifted its holdings in shares of General Dynamics by 45.1% in the third quarter. Janney Montgomery Scott LLC now owns 60,605 shares of the aerospace company’s stock worth $12,459,000 after buying an additional 18,843 shares in the last quarter. Valeo Financial Advisors LLC purchased a new position in shares of General Dynamics in the third quarter worth $527,000. Cambria Investment Management L.P. lifted its holdings in shares of General Dynamics by 103.9% in the third quarter. Cambria Investment Management L.P. now owns 30,267 shares of the aerospace company’s stock worth $6,222,000 after buying an additional 15,424 shares in the last quarter. Finally, Ladenburg Thalmann Financial Services Inc. lifted its holdings in shares of General Dynamics by 10.7% in the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 27,629 shares of the aerospace company’s stock worth $5,684,000 after buying an additional 2,671 shares in the last quarter. Institutional investors own 86.76% of the company’s stock.
In related news, VP Gregory S. Gallopoulos sold 78,370 shares of General Dynamics stock in a transaction on Monday, November 6th. The shares were sold at an average price of $202.93, for a total value of $15,903,624.10. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider John Patrick Casey sold 34,945 shares of General Dynamics stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $201.38, for a total transaction of $7,037,224.10. Following the sale, the insider now directly owns 144,378 shares in the company, valued at approximately $29,074,841.64. The disclosure for this sale can be found here. 6.70% of the stock is currently owned by company insiders.
Shares of General Dynamics Co. (GD) traded down $2.96 during midday trading on Tuesday, hitting $200.49. 1,578,000 shares of the stock were exchanged, compared to its average volume of 1,150,000. The firm has a market cap of $59,860.00, a PE ratio of 19.91, a price-to-earnings-growth ratio of 2.44 and a beta of 0.72. General Dynamics Co. has a twelve month low of $171.65 and a twelve month high of $214.81. The company has a quick ratio of 0.93, a current ratio of 1.37 and a debt-to-equity ratio of 0.34.
General Dynamics (NYSE:GD) last issued its quarterly earnings data on Wednesday, October 25th. The aerospace company reported $2.52 EPS for the quarter, topping analysts’ consensus estimates of $2.43 by $0.09. The business had revenue of $7.58 billion for the quarter, compared to analysts’ expectations of $7.94 billion. General Dynamics had a net margin of 9.94% and a return on equity of 27.98%. The business’s revenue was down 1.0% on a year-over-year basis. During the same quarter last year, the company earned $2.36 EPS. equities analysts forecast that General Dynamics Co. will post 9.8 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, February 9th. Investors of record on Friday, January 19th will be paid a $0.84 dividend. The ex-dividend date of this dividend is Thursday, January 18th. This represents a $3.36 dividend on an annualized basis and a yield of 1.68%. General Dynamics’s dividend payout ratio is currently 33.37%.
Several research firms have recently commented on GD. Jefferies Group reissued a “buy” rating and issued a $236.00 target price on shares of General Dynamics in a report on Thursday, October 26th. Zacks Investment Research downgraded shares of General Dynamics from a “buy” rating to a “hold” rating in a research note on Friday, October 27th. Cowen reaffirmed a “buy” rating and set a $230.00 price target on shares of General Dynamics in a research note on Thursday, October 26th. ValuEngine downgraded shares of General Dynamics from a “buy” rating to a “hold” rating in a research note on Thursday, November 30th. Finally, JPMorgan Chase & Co. downgraded shares of General Dynamics from a “neutral” rating to an “underweight” rating and decreased their price target for the company from $225.00 to $215.00 in a research note on Tuesday, December 12th. Four investment analysts have rated the stock with a sell rating, four have given a hold rating and nine have given a buy rating to the company. General Dynamics presently has a consensus rating of “Hold” and an average price target of $218.24.
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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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