Royal Fund Management LLC bought a new stake in shares of General Dynamics Co. (NYSE:GD) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 566 shares of the aerospace company’s stock, valued at approximately $74,000.
Several other hedge funds and other institutional investors have also made changes to their positions in GD. Princeton Global Asset Management LLC purchased a new stake in General Dynamics in the 4th quarter worth about $25,000. Anderson Fisher LLC purchased a new stake in General Dynamics in the 4th quarter worth about $31,000. Solstein Capital LLC purchased a new stake in General Dynamics in the 4th quarter worth about $31,000. Key Financial Inc purchased a new stake in General Dynamics in the 1st quarter worth about $31,000. Finally, Wealthcare Advisory Partners LLC raised its position 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 during the period. Hedge funds and other institutional investors own 86.17% of the company’s stock.
GD has been the topic of a number of recent analyst reports. Cfra raised shares of General Dynamics from a “hold” rating to a “buy” rating and increased their price objective for the stock from $195.00 to $211.00 in a research report on Wednesday, February 12th. 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 research report on Tuesday, April 14th. ValuEngine lowered shares of General Dynamics from a “hold” rating to a “sell” rating in a research report on Wednesday, April 29th. Seaport Global Securities initiated coverage on shares of General Dynamics in a research report on Tuesday. They set a “buy” rating and a $188.00 target price on the stock. Finally, Credit Suisse Group reduced their target price on shares of General Dynamics from $191.00 to $153.00 and set a “neutral” rating on the stock in a research report on Thursday, April 30th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and eleven have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $187.15.
NYSE GD opened at $138.57 on Friday. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.97 and a current ratio of 1.34. The firm’s 50 day moving average price is $133.05 and its 200-day moving average price is $162.93. General Dynamics Co. has a 52-week low of $100.55 and a 52-week high of $193.76. The company has a market cap of $39.78 billion, a PE ratio of 11.69, a P/E/G ratio of 2.31 and a beta of 1.01.
General Dynamics (NYSE:GD) last released its quarterly earnings data on Wednesday, April 29th. The aerospace company reported $2.43 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate 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 for the quarter, compared to the consensus estimate of $9.25 billion. During the same quarter in the prior year, the business posted $2.56 earnings per share. General Dynamics’s revenue for the quarter was down 5.5% on a year-over-year basis. On average, analysts forecast that General Dynamics Co. will post 11.17 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 8th. Stockholders of record on Friday, April 10th were paid a dividend of $1.10 per share. The ex-dividend date was Wednesday, April 8th. This is an increase from General Dynamics’s previous quarterly dividend of $1.02. This represents a $4.40 dividend on an annualized basis and a dividend yield of 3.18%. General Dynamics’s dividend payout ratio (DPR) is currently 36.73%.
General Dynamics announced that its Board of Directors has authorized a stock buyback plan on Wednesday, March 4th that permits the company to repurchase 10,000,000 shares. This repurchase authorization permits the aerospace company to repurchase shares of its stock through open market purchases. Stock repurchase plans are typically an indication 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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