Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its position in General Dynamics Co. (NYSE:GD) by 12.2% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 85,849 shares of the aerospace company’s stock after purchasing an additional 9,308 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in General Dynamics were worth $11,359,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Bank of Hawaii grew its position in shares of General Dynamics by 0.9% during the 4th quarter. Bank of Hawaii now owns 6,054 shares of the aerospace company’s stock worth $1,068,000 after buying an additional 54 shares during the period. Wealthcare Advisory Partners LLC boosted its stake in General Dynamics by 30.2% during the 4th quarter. Wealthcare Advisory Partners LLC now owns 263 shares of the aerospace company’s stock worth $46,000 after acquiring an additional 61 shares during the last quarter. Patriot Investment Management Inc. boosted its stake in General Dynamics by 3.1% during the 4th quarter. Patriot Investment Management Inc. now owns 2,009 shares of the aerospace company’s stock worth $354,000 after acquiring an additional 61 shares during the last quarter. Hills Bank & Trust Co. grew its holdings in General Dynamics by 1.7% during the fourth quarter. Hills Bank & Trust Co. now owns 3,984 shares of the aerospace company’s stock valued at $703,000 after purchasing an additional 65 shares during the period. Finally, Girard Partners LTD. increased its stake in General Dynamics by 3.4% in the fourth quarter. Girard Partners LTD. now owns 2,108 shares of the aerospace company’s stock valued at $371,000 after purchasing an additional 69 shares in the last quarter. 86.17% of the stock is currently owned by institutional investors and hedge funds.
Several equities analysts have recently issued reports on the stock. JPMorgan Chase & Co. raised shares of General Dynamics from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $210.00 to $225.00 in a report on Thursday, February 6th. TheStreet lowered General Dynamics from a “b” rating to a “c+” rating in a research report on Friday, March 13th. Susquehanna Bancshares cut their price objective on General Dynamics from $179.00 to $167.00 and set a “positive” rating on the stock in a report on Thursday, April 30th. Morgan Stanley raised their target price on shares of General Dynamics from $146.00 to $151.00 and gave the stock an “underweight” rating in a report on Tuesday, April 14th. Finally, Citigroup upgraded shares of General Dynamics from a “neutral” rating to a “buy” rating and reduced their price target for the company from $185.00 to $170.00 in a report on Monday, April 20th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and eleven have given a buy rating to the company. General Dynamics has a consensus rating of “Buy” and a consensus price target of $187.15.
Shares of NYSE GD traded down $0.10 during midday trading on Friday, reaching $138.57. The company’s stock had a trading volume of 884,108 shares, compared to its average volume of 2,504,818. The stock has a 50 day simple moving average of $133.05 and a 200-day simple moving average of $162.93. The company has a current ratio of 1.34, a quick ratio of 0.97 and a debt-to-equity ratio of 0.98. The stock has a market capitalization of $39.78 billion, a price-to-earnings ratio of 11.69, a PEG ratio of 2.31 and a beta of 1.01. General Dynamics Co. has a fifty-two week low of $100.55 and a fifty-two week high of $193.76.
General Dynamics (NYSE:GD) last released its earnings results on Wednesday, April 29th. The aerospace company reported $2.43 earnings per share for the quarter, missing analysts’ consensus estimates of $2.46 by ($0.03). General Dynamics had a net margin of 8.87% and a return on equity of 25.92%. The business had revenue of $8.75 billion during the quarter, compared to the consensus estimate of $9.25 billion. During the same period last year, the business posted $2.56 EPS. The firm’s revenue for the quarter was down 5.5% on a year-over-year basis. As a group, equities analysts anticipate that General Dynamics Co. will post 11.17 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, May 8th. Investors of record on Friday, April 10th were given a $1.10 dividend. The ex-dividend date of this dividend was Wednesday, April 8th. This represents a $4.40 dividend on an annualized basis and a dividend yield of 3.18%. This is an increase from General Dynamics’s previous quarterly dividend of $1.02. General Dynamics’s payout ratio is currently 36.73%.
General Dynamics declared that its board has authorized a stock buyback program on Wednesday, March 4th that authorizes the company to buyback 10,000,000 outstanding shares. This buyback authorization authorizes the aerospace company to reacquire shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company’s leadership believes its shares are undervalued.
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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