Denali Advisors LLC purchased a new position in shares of General Dynamics Co. (NYSE:GD) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 36,600 shares of the aerospace company’s stock, valued at approximately $5,067,000.
Several other institutional investors and hedge funds also recently made changes to their positions in GD. Surevest LLC lifted its position in shares of General Dynamics by 8.5% during the 3rd quarter. Surevest LLC now owns 22,965 shares of the aerospace company’s stock valued at $3,179,000 after acquiring an additional 1,808 shares during the period. Fluent Financial LLC increased its stake in General Dynamics by 17.2% in the 3rd quarter. Fluent Financial LLC now owns 9,694 shares of the aerospace company’s stock valued at $1,342,000 after purchasing an additional 1,425 shares in the last quarter. Sanders Morris Harris LLC acquired a new position in General Dynamics during the third quarter worth $429,000. Asio Capital LLC boosted its position in General Dynamics by 22.3% during the third quarter. Asio Capital LLC now owns 13,667 shares of the aerospace company’s stock worth $1,892,000 after purchasing an additional 2,493 shares in the last quarter. Finally, Arden Trust Co grew its holdings in General Dynamics by 13.9% in the third quarter. Arden Trust Co now owns 3,890 shares of the aerospace company’s stock valued at $539,000 after purchasing an additional 474 shares during the last quarter. Institutional investors and hedge funds own 84.98% of the company’s stock.
Several equities research analysts recently commented on the stock. Goldman Sachs Group lowered shares of General Dynamics from a “buy” rating to a “sell” rating and decreased their price objective for the stock from $205.00 to $138.00 in a research report on Thursday, September 17th. ValuEngine downgraded shares of General Dynamics from a “hold” rating to a “sell” rating in a report on Monday, August 3rd. Robert W. Baird cut shares of General Dynamics from an “outperform” rating to a “neutral” rating and dropped their price objective for the stock from $167.00 to $149.00 in a research note on Friday, October 2nd. Morgan Stanley began coverage on General Dynamics in a research report on Tuesday, September 8th. They set an “underweight” rating and a $163.00 price objective for the company. Finally, TheStreet cut General Dynamics from a “b-” rating to a “c+” rating in a report on Thursday, July 9th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and eight have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $173.19.
General Dynamics (NYSE:GD) last posted its quarterly earnings data on Wednesday, July 29th. The aerospace company reported $2.18 EPS for the quarter, beating the Zacks’ consensus estimate of $2.15 by $0.03. The company had revenue of $9.26 billion during the quarter, compared to the consensus estimate of $9.03 billion. General Dynamics had a net margin of 8.47% and a return on equity of 24.10%. The company’s quarterly revenue was down 3.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.77 EPS. On average, research analysts anticipate that General Dynamics Co. will post 11.04 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, November 13th. Shareholders of record on Friday, October 9th will be paid a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a yield of 3.09%. The ex-dividend date is Thursday, October 8th. General Dynamics’s dividend payout ratio is currently 36.73%.
In other news, VP William A. Moss sold 4,778 shares of the business’s stock in a transaction on Thursday, September 24th. The shares were sold at an average price of $136.68, for a total transaction of $653,057.04. Following the completion of the sale, the vice president now directly owns 12,241 shares of the company’s stock, valued at approximately $1,673,099.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 6.60% of the stock is owned by company insiders.
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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