JPMorgan Chase & Co. grew its holdings in shares of General Dynamics Co. (NYSE:GD) by 6.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,601,588 shares of the aerospace company’s stock after acquiring an additional 421,493 shares during the quarter. JPMorgan Chase & Co.’s holdings in General Dynamics were worth $1,198,584,000 at the end of the most recent quarter.
A number of other institutional investors also recently made changes to their positions in the business. DB Wealth Management Group LLC bought a new position in shares of General Dynamics in the 4th quarter worth $28,000. Alpha DNA Investment Management LLC bought a new position in shares of General Dynamics during the 4th quarter valued at about $28,000. Phoenix Wealth Advisors purchased a new position in shares of General Dynamics during the fourth quarter worth approximately $30,000. Bank Julius Baer & Co. Ltd Zurich bought a new stake in shares of General Dynamics in the 4th quarter worth approximately $30,000. Finally, Lazard Asset Management LLC purchased a new stake in shares of General Dynamics in the 4th quarter valued at $30,000. Institutional investors and hedge funds own 85.67% of the company’s stock.
GD has been the topic of a number of recent research reports. Citigroup raised their price objective on General Dynamics from $160.00 to $200.00 in a research note on Thursday, March 25th. Susquehanna Bancshares lifted their price target on General Dynamics from $205.00 to $215.00 and gave the stock a “positive” rating in a research note on Thursday, April 29th. Susquehanna increased their price objective on General Dynamics from $205.00 to $215.00 and gave the company a “positive” rating in a research note on Thursday, April 29th. Wells Fargo & Company initiated coverage on shares of General Dynamics in a research note on Tuesday, May 18th. They issued an “overweight” rating and a $216.00 target price on the stock. Finally, Wolfe Research reissued an “underperform” rating on shares of General Dynamics in a report on Wednesday, April 14th. Four analysts have rated the stock with a sell rating, four have issued a hold rating and eight have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $188.94.
General Dynamics (NYSE:GD) last issued its quarterly earnings results on Wednesday, April 28th. The aerospace company reported $2.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.31 by $0.17. The company had revenue of $9.39 billion during the quarter, compared to analysts’ expectations of $8.95 billion. General Dynamics had a net margin of 8.22% and a return on equity of 21.27%. General Dynamics’s revenue was up 7.3% on a year-over-year basis. During the same period last year, the company posted $2.43 EPS. On average, sell-side analysts expect that General Dynamics Co. will post 11.18 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, August 6th. Investors of record on Friday, July 2nd will be paid a $1.19 dividend. The ex-dividend date of this dividend is Thursday, July 1st. This represents a $4.76 annualized dividend and a dividend yield of 2.49%. General Dynamics’s payout ratio is currently 43.27%.
About General Dynamics
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, and Marine Systems.
Read More: Penny Stocks, Risk and Reward Factors
Want to see what other hedge funds are holding GD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for General Dynamics Co. (NYSE:GD).
Receive News & Ratings for General Dynamics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for General Dynamics and related companies with MarketBeat.com's FREE daily email newsletter.