Chemung Canal Trust Co. lessened its position in General Dynamics Co. (NYSE:GD) by 35.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,297 shares of the aerospace company’s stock after selling 1,821 shares during the period. Chemung Canal Trust Co.’s holdings in General Dynamics were worth $490,000 as of its most recent SEC filing.
Several other large investors have also recently bought and sold shares of GD. Advisory Alpha LLC acquired a new position in General Dynamics during the third quarter worth approximately $26,000. Horan Capital Advisors LLC. acquired a new position in General Dynamics during the third quarter worth approximately $28,000. Rockbridge Investment Management LCC acquired a new position in General Dynamics during the second quarter worth approximately $43,000. FinTrust Capital Advisors LLC increased its position in General Dynamics by 97.2% during the third quarter. FinTrust Capital Advisors LLC now owns 351 shares of the aerospace company’s stock worth $49,000 after purchasing an additional 173 shares during the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. acquired a new position in General Dynamics during the third quarter worth approximately $63,000. 77.11% of the stock is owned by institutional investors and hedge funds.
GD has been the subject of several research analyst reports. The Goldman Sachs Group lowered shares of General Dynamics from a “buy” rating to a “sell” rating and dropped their price target for the stock from $205.00 to $138.00 in a research report on Thursday, September 17th. Credit Suisse Group dropped their price objective on shares of General Dynamics from $156.00 to $140.00 and set a “neutral” rating for the company in a research report on Thursday, October 29th. They noted that the move was a valuation call. BidaskClub downgraded shares of General Dynamics from a “sell” rating to a “strong sell” rating in a research note on Wednesday, December 23rd. Robert W. Baird downgraded shares of General Dynamics from an “outperform” rating to a “neutral” rating and decreased their target price for the company from $167.00 to $149.00 in a research note on Friday, October 2nd. Finally, TheStreet upgraded shares of General Dynamics from a “c+” rating to a “b-” rating in a research note on Thursday, December 17th. Four research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the stock. General Dynamics has a consensus rating of “Hold” and an average target price of $169.53.
NYSE:GD traded down $0.87 during trading hours on Wednesday, hitting $152.63. The company’s stock had a trading volume of 1,115,399 shares, compared to its average volume of 1,521,039. The stock has a fifty day simple moving average of $151.11 and a 200-day simple moving average of $147.17. The company has a market capitalization of $43.80 billion, a P/E ratio of 13.85, a PEG ratio of 2.43 and a beta of 1.05. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.29 and a quick ratio of 0.90. General Dynamics Co. has a twelve month low of $100.55 and a twelve month high of $190.08.
General Dynamics (NYSE:GD) last released its quarterly earnings data on Wednesday, October 28th. The aerospace company reported $2.90 earnings per share for the quarter, beating the consensus estimate of $2.85 by $0.05. The business had revenue of $9.43 billion for the quarter, compared to analyst estimates of $9.60 billion. General Dynamics had a return on equity of 23.00% and a net margin of 8.33%. On average, equities analysts predict that General Dynamics Co. will post 11.06 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, February 5th. Shareholders of record on Friday, January 15th will be issued a $1.10 dividend. The ex-dividend date of this dividend is Thursday, January 14th. This represents a $4.40 dividend on an annualized basis and a yield of 2.88%. General Dynamics’s payout ratio is currently 36.73%.
General Dynamics Company Profile
General Dynamics Corp. is an aerospace and defense company, which engages in the provision of tanks, rockets, missiles, submarines, warships, fighters and electronics to all of the military services. It operates through the following segments: Aerospace, Combat Systems, Information Technology, Mission Systems and Marine Systems.
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