Point72 Hong Kong Ltd Has $294,000 Position in General Dynamics Co. (NYSE:GD)

Point72 Hong Kong Ltd raised its stake in shares of General Dynamics Co. (NYSE:GD) by 58.3% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,665 shares of the aerospace company’s stock after buying an additional 613 shares during the period. Point72 Hong Kong Ltd’s holdings in General Dynamics were worth $294,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Princeton Global Asset Management LLC bought a new position in shares of General Dynamics in the fourth quarter worth about $25,000. Simon Quick Advisors LLC bought a new position in General Dynamics during the fourth quarter worth about $29,000. Anderson Fisher LLC bought a new position in General Dynamics during the fourth quarter worth about $31,000. Solstein Capital LLC bought a new position in General Dynamics during the fourth quarter worth about $31,000. Finally, Wealthcare Advisory Partners LLC increased its position in General Dynamics by 30.2% during the fourth 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 period. 86.39% of the stock is owned by institutional investors.

GD traded up $7.79 during mid-day trading on Wednesday, reaching $122.00. 3,268,762 shares of the stock were exchanged, compared to its average volume of 2,093,093. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.80 and a current ratio of 1.18. The stock has a market capitalization of $30.87 billion, a PE ratio of 10.18, a price-to-earnings-growth ratio of 1.08 and a beta of 1.15. The company has a 50 day moving average price of $162.48 and a two-hundred day moving average price of $176.66. General Dynamics Co. has a 1 year low of $100.55 and a 1 year high of $193.76.

General Dynamics (NYSE:GD) last issued its quarterly earnings results on Wednesday, January 29th. The aerospace company reported $3.51 earnings per share for the quarter, topping the Zacks’ consensus estimate of $3.44 by $0.07. The company had revenue of $10.77 billion for the quarter, compared to the consensus estimate of $10.64 billion. General Dynamics had a net margin of 8.85% and a return on equity of 26.70%. The firm’s quarterly revenue was up 3.8% on a year-over-year basis. During the same period in the previous year, the firm earned $3.07 EPS. Sell-side analysts expect that General Dynamics Co. will post 12.51 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, May 8th. Investors of record on Friday, April 10th will be issued a $1.10 dividend. 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 3.61%. The ex-dividend date of this dividend is Wednesday, April 8th. General Dynamics’s payout ratio is 34.06%.

General Dynamics declared that its Board of Directors has authorized a share buyback program on Wednesday, March 4th that authorizes the company to repurchase 10,000,000 outstanding shares. This repurchase authorization authorizes the aerospace company to purchase shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are undervalued.

A number of research firms recently commented on GD. Argus raised shares of General Dynamics from a “hold” rating to a “buy” rating and set a $195.00 price target on the stock in a research report on Monday, February 3rd. ValuEngine upgraded shares of General Dynamics from a “sell” rating to a “hold” rating in a research note on Friday, March 6th. Cowen reaffirmed a “buy” rating and set a $215.00 price objective on shares of General Dynamics in a report on Tuesday, December 17th. Morgan Stanley cut their price objective on shares of General Dynamics from $175.00 to $146.00 and set an “underweight” rating on the stock in a report on Tuesday. Finally, JPMorgan Chase & Co. raised shares of General Dynamics from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $210.00 to $225.00 in a report on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and nine have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $203.36.

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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Institutional Ownership by Quarter for General Dynamics (NYSE:GD)

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