Moloney Securities Asset Management LLC purchased a new position in General Dynamics Co. (NYSE:GD) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 3,798 shares of the aerospace company’s stock, valued at approximately $670,000.
A number of other institutional investors have also modified their holdings of GD. Patriot Investment Management Inc. increased its stake in General Dynamics by 3.0% in the 3rd quarter. Patriot Investment Management Inc. now owns 1,948 shares of the aerospace company’s stock worth $340,000 after purchasing an additional 57 shares in the last quarter. G&S Capital LLC increased its stake in General Dynamics by 10.5% in the 3rd quarter. G&S Capital LLC now owns 642 shares of the aerospace company’s stock worth $117,000 after purchasing an additional 61 shares in the last quarter. Wealthcare Advisory Partners LLC increased its stake in General Dynamics by 30.2% in the 4th quarter. Wealthcare Advisory Partners LLC now owns 263 shares of the aerospace company’s stock worth $46,000 after purchasing an additional 61 shares in the last quarter. Wetherby Asset Management Inc. increased its stake in General Dynamics by 1.5% in the 3rd quarter. Wetherby Asset Management Inc. now owns 4,160 shares of the aerospace company’s stock worth $760,000 after purchasing an additional 62 shares in the last quarter. Finally, Hills Bank & Trust Co. increased its stake in General Dynamics by 1.7% in the 4th quarter. Hills Bank & Trust Co. now owns 3,984 shares of the aerospace company’s stock worth $703,000 after purchasing an additional 65 shares in the last quarter. Hedge funds and other institutional investors own 86.18% of the company’s stock.
In other news, EVP Mark C. Roualet sold 50,195 shares of General Dynamics stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $181.78, for a total transaction of $9,124,447.10. Following the completion of the sale, the executive vice president now directly owns 169,443 shares in the company, valued at approximately $30,801,348.54. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 7.10% of the stock is owned by insiders.
Shares of General Dynamics stock opened at $188.06 on Friday. The firm has a market cap of $54.86 billion, a price-to-earnings ratio of 15.81, a P/E/G ratio of 1.81 and a beta of 1.14. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.18 and a quick ratio of 0.80. General Dynamics Co. has a 52-week low of $160.21 and a 52-week high of $193.76. The stock has a 50-day simple moving average of $181.52 and a 200-day simple moving average of $182.44.
General Dynamics (NYSE:GD) last announced its quarterly earnings results on Wednesday, January 29th. The aerospace company reported $3.51 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $3.44 by $0.07. The business had revenue of $10.77 billion during the quarter, compared to analyst estimates of $10.64 billion. General Dynamics had a return on equity of 26.70% and a net margin of 8.85%. The firm’s revenue was up 3.8% on a year-over-year basis. During the same period in the previous year, the company earned $3.07 EPS. As a group, equities research analysts predict that General Dynamics Co. will post 12.65 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, February 7th. Stockholders of record on Friday, January 17th were issued a dividend of $1.02 per share. The ex-dividend date of this dividend was Thursday, January 16th. This represents a $4.08 annualized dividend and a dividend yield of 2.17%. General Dynamics’s dividend payout ratio is 34.06%.
Several equities analysts have weighed in on the company. Barclays reaffirmed a “buy” rating and set a $220.00 target price on shares of General Dynamics in a research note on Thursday, January 23rd. ValuEngine cut General Dynamics from a “hold” rating to a “sell” rating in a research note on Thursday, February 6th. Morgan Stanley lifted their target price on General Dynamics from $172.00 to $175.00 and gave the company an “underweight” rating in a research note on Thursday, December 12th. Cfra raised General Dynamics from a “hold” rating to a “buy” rating and lifted their target price for the company from $195.00 to $211.00 in a research note on Wednesday. Finally, Cowen reaffirmed a “buy” rating and set a $215.00 target price on shares of General Dynamics in a research note on Tuesday, December 17th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and eight have issued a buy rating to the company’s stock. General Dynamics presently has an average rating of “Buy” and a consensus target price of $203.64.
About General Dynamics
General Dynamics Corporation operates as an aerospace and defense company worldwide. It operates in five segments: Aerospace, Combat Systems, Information Technology, Mission Systems, and Marine Systems. The Aerospace segment designs, manufactures, and supports business-jet aircraft; and offers business-aviation services, including maintenance, fixed-base operation, government fleet, aircraft management, charter, and staffing services, as well as integrated aviation solutions.
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