Tredje AP fonden decreased its holdings in shares of General Dynamics Co. (NYSE:GD) by 11.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,905 shares of the aerospace company’s stock after selling 2,317 shares during the quarter. Tredje AP fonden’s holdings in General Dynamics were worth $2,792,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also bought and sold shares of the company. Princeton Global Asset Management LLC acquired a new stake in shares of General Dynamics during the fourth quarter worth $25,000. Anderson Fisher LLC bought a new position in General Dynamics during the fourth quarter worth about $31,000. Solstein Capital LLC acquired a new position in shares of General Dynamics during the 4th quarter worth about $31,000. Key Financial Inc bought a new position in General Dynamics during the 1st quarter worth approximately $31,000. Finally, Wealthcare Advisory Partners LLC increased its stake in General Dynamics by 30.2% in the fourth quarter. Wealthcare Advisory Partners LLC now owns 263 shares of the aerospace company’s stock valued at $46,000 after purchasing an additional 61 shares in the last quarter. 86.17% of the stock is owned by institutional investors and hedge funds.
Several brokerages recently commented on GD. TheStreet downgraded General Dynamics from a “b” rating to a “c+” rating in a research note on Friday, March 13th. Morgan Stanley increased their target price on General Dynamics from $146.00 to $151.00 and gave the stock an “underweight” rating in a research note on Tuesday, April 14th. Credit Suisse Group decreased their price objective on General Dynamics from $191.00 to $153.00 and set a “neutral” rating on the stock in a report on Thursday, April 30th. Royal Bank of Canada initiated coverage on General Dynamics in a report on Wednesday. They set an “outperform” rating and a $157.00 target price for the company. Finally, ValuEngine downgraded shares of General Dynamics from a “hold” rating to a “sell” rating in a research note on Wednesday, April 29th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and eleven have issued a buy rating to the company. General Dynamics has an average rating of “Buy” and a consensus target price of $187.15.
Shares of General Dynamics stock traded down $0.10 during trading on Friday, reaching $138.57. 884,108 shares of the company’s stock were exchanged, compared to its average volume of 2,504,818. The firm’s 50-day moving average price is $133.05 and its 200 day moving average price is $162.93. The company has a market cap of $39.78 billion, a P/E ratio of 11.69, a PEG ratio of 2.31 and a beta of 1.01. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.97 and a current ratio of 1.34. General Dynamics Co. has a 1-year low of $100.55 and a 1-year high of $193.76.
General Dynamics (NYSE:GD) last posted its earnings results on Wednesday, April 29th. The aerospace company reported $2.43 EPS for the quarter, missing analysts’ consensus estimates of $2.46 by ($0.03). The company had revenue of $8.75 billion during the quarter, compared to the consensus estimate of $9.25 billion. General Dynamics had a return on equity of 25.92% and a net margin of 8.87%. The firm’s revenue was down 5.5% compared to the same quarter last year. During the same period last year, the company posted $2.56 EPS. As a group, equities research analysts predict that General Dynamics Co. will post 11.17 EPS for the current year.
General Dynamics declared that its Board of Directors has initiated a stock repurchase program on Wednesday, March 4th that authorizes the company to buyback 10,000,000 shares. This buyback authorization authorizes the aerospace company to purchase shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its shares are undervalued.
The business also recently announced a quarterly dividend, which was paid on Friday, May 8th. Shareholders of record on Friday, April 10th were given a $1.10 dividend. The ex-dividend date was Wednesday, April 8th. This represents a $4.40 dividend on an annualized basis and a yield of 3.18%. This is a positive change from General Dynamics’s previous quarterly dividend of $1.02. General Dynamics’s dividend payout ratio (DPR) is currently 36.73%.
General Dynamics Company Profile
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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