General Dynamics Co. (GD) Holdings Lessened by Kessler Investment Group LLC
Kessler Investment Group LLC trimmed its holdings in General Dynamics Co. (NYSE:GD) by 42.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 224 shares of the aerospace company’s stock after selling 168 shares during the period. Kessler Investment Group LLC’s holdings in General Dynamics were worth $35,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also made changes to their positions in GD. Matthew Goff Investment Advisor LLC raised its position in shares of General Dynamics by 18,540.8% during the 3rd quarter. Matthew Goff Investment Advisor LLC now owns 4,959,204 shares of the aerospace company’s stock valued at $26,604,000 after acquiring an additional 4,932,600 shares in the last quarter. Capital World Investors acquired a new stake in shares of General Dynamics during the 3rd quarter valued at approximately $492,331,000. Capital International Investors raised its position in shares of General Dynamics by 79.5% during the 3rd quarter. Capital International Investors now owns 2,642,678 shares of the aerospace company’s stock valued at $541,009,000 after acquiring an additional 1,170,662 shares in the last quarter. Cornerstone Wealth Management LLC raised its position in shares of General Dynamics by 1,393.1% during the 3rd quarter. Cornerstone Wealth Management LLC now owns 658,951 shares of the aerospace company’s stock valued at $3,086,000 after acquiring an additional 614,817 shares in the last quarter. Finally, BlackRock Inc. raised its position in shares of General Dynamics by 2.5% during the 3rd quarter. BlackRock Inc. now owns 17,451,297 shares of the aerospace company’s stock valued at $3,572,628,000 after acquiring an additional 426,955 shares in the last quarter. 86.36% of the stock is currently owned by institutional investors.
Shares of NYSE:GD traded up $0.17 on Friday, hitting $162.60. The company’s stock had a trading volume of 42,098 shares, compared to its average volume of 1,714,320. General Dynamics Co. has a 12 month low of $143.87 and a 12 month high of $230.00. The stock has a market cap of $47.65 billion, a price-to-earnings ratio of 16.35, a PEG ratio of 1.29 and a beta of 1.09. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.87 and a current ratio of 1.27.
The firm also recently declared a quarterly dividend, which will be paid on Friday, February 8th. Stockholders of record on Friday, January 18th will be paid a $0.93 dividend. The ex-dividend date is Thursday, January 17th. This represents a $3.72 annualized dividend and a dividend yield of 2.29%. General Dynamics’s payout ratio is 37.39%.
A number of research analysts recently commented on the company. Jefferies Financial Group downgraded General Dynamics from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $197.00 to $164.00 in a research note on Tuesday. Robert W. Baird lowered their price objective on General Dynamics from $243.00 to $222.00 and set an “outperform” rating for the company in a research note on Thursday, October 25th. Susquehanna Bancshares assumed coverage on General Dynamics in a research note on Thursday. They set a “neutral” rating and a $175.00 price objective for the company. Stifel Nicolaus lowered their price objective on General Dynamics from $210.00 to $200.00 and set a “hold” rating for the company in a research note on Friday, October 26th. Finally, Argus lowered their price objective on General Dynamics from $250.00 to $200.00 and set a “buy” rating for the company in a research note on Friday, October 26th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $220.32.
In other news, Director Catherine B. Reynolds acquired 600 shares of the business’s stock in a transaction dated Friday, December 7th. The stock was acquired at an average price of $167.64 per share, for a total transaction of $100,584.00. Following the completion of the acquisition, the director now directly owns 1,153 shares in the company, valued at approximately $193,288.92. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider John Patrick Casey sold 22,500 shares of the company’s stock in a transaction on Monday, October 15th. The shares were sold at an average price of $193.28, for a total value of $4,348,800.00. Following the completion of the sale, the insider now owns 118,555 shares of the company’s stock, valued at approximately $22,914,310.40. The disclosure for this sale can be found here. Corporate insiders own 6.90% of the company’s stock.
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General Dynamics Profile
General Dynamics Corporation operates as an aerospace and defense company worldwide. It operates through four business groups: Aerospace; Combat Systems; Information Systems and Technology; and Marine Systems. The Aerospace group designs, develops, manufactures, service and supports business-jet aircraft; and provides aircraft services, such as maintenance, aircraft management, charter, fixed-base operational, and staffing services.
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