Pallas Capital Advisors LLC bought a new position in shares of General Dynamics Co. (NYSE:GD - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 979 shares of the aerospace company's stock, valued at approximately $267,000.
Several other institutional investors have also recently made changes to their positions in the business. Empowered Funds LLC increased its stake in General Dynamics by 15.3% in the 4th quarter. Empowered Funds LLC now owns 9,689 shares of the aerospace company's stock worth $2,553,000 after acquiring an additional 1,283 shares during the last quarter. Hickory Point Bank & Trust bought a new stake in General Dynamics in the 4th quarter worth approximately $692,000. Atlas Legacy Advisors LLC bought a new stake in General Dynamics in the 4th quarter worth approximately $550,000. Jones Financial Companies Lllp increased its stake in General Dynamics by 45.4% in the 4th quarter. Jones Financial Companies Lllp now owns 80,565 shares of the aerospace company's stock worth $21,228,000 after acquiring an additional 25,144 shares during the last quarter. Finally, U S Global Investors Inc. boosted its holdings in shares of General Dynamics by 18.6% in the 4th quarter. U S Global Investors Inc. now owns 79,450 shares of the aerospace company's stock worth $20,934,000 after purchasing an additional 12,453 shares during the period. Hedge funds and other institutional investors own 86.14% of the company's stock.
Wall Street Analyst Weigh In
A number of equities analysts have recently commented on the company. TD Securities lifted their target price on General Dynamics from $275.00 to $290.00 and gave the stock a "buy" rating in a report on Thursday, April 24th. UBS Group lifted their target price on General Dynamics from $268.00 to $279.00 and gave the stock a "neutral" rating in a report on Thursday, April 24th. Susquehanna lifted their target price on General Dynamics from $300.00 to $315.00 and gave the stock a "positive" rating in a report on Wednesday, April 2nd. Cowen reiterated a "buy" rating on shares of General Dynamics in a report on Thursday, April 24th. Finally, Citigroup dropped their target price on General Dynamics from $335.00 to $330.00 and set a "buy" rating for the company in a report on Thursday, April 10th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, General Dynamics currently has an average rating of "Hold" and a consensus target price of $293.00.
View Our Latest Report on General Dynamics
General Dynamics Trading Up 1.1%
Shares of NYSE GD opened at $282.95 on Friday. The company has a quick ratio of 0.82, a current ratio of 1.37 and a debt-to-equity ratio of 0.33. The business has a fifty day simple moving average of $274.62 and a two-hundred day simple moving average of $266.63. The firm has a market cap of $75.94 billion, a PE ratio of 20.74, a price-to-earnings-growth ratio of 1.69 and a beta of 0.46. General Dynamics Co. has a twelve month low of $239.20 and a twelve month high of $316.90.
General Dynamics (NYSE:GD - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The aerospace company reported $3.66 earnings per share for the quarter, beating analysts' consensus estimates of $3.43 by $0.23. The business had revenue of $12.22 billion during the quarter, compared to analyst estimates of $11.92 billion. General Dynamics had a return on equity of 17.10% and a net margin of 7.93%. General Dynamics's revenue was up 13.9% on a year-over-year basis. During the same period in the previous year, the company posted $2.88 EPS. Analysts expect that General Dynamics Co. will post 14.83 earnings per share for the current fiscal year.
General Dynamics Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Friday, August 8th. Stockholders of record on Thursday, July 3rd will be given a $1.50 dividend. This represents a $6.00 annualized dividend and a dividend yield of 2.12%. The ex-dividend date is Thursday, July 3rd. General Dynamics's payout ratio is 41.61%.
General Dynamics Company Profile
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Free Report)
General Dynamics Corporation operates as an aerospace and defense company worldwide. It operates through four segments: Aerospace, Marine Systems, Combat Systems, and Technologies. The Aerospace segment produces and sells business jets; and offers aircraft maintenance and repair, management, aircraft-on-ground support and completion, charter, staffing, and fixed-base operator services.
Further Reading
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