General Dynamics Corporation (GD) Holdings Cut by Cohen & Steers Inc.
Cohen & Steers Inc. cut its position in General Dynamics Corporation (NYSE:GD) by 29.6% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 29,286 shares of the aerospace company’s stock after selling 12,337 shares during the period. Cohen & Steers Inc.’s holdings in General Dynamics were worth $6,021,000 as of its most recent SEC filing.
Other institutional investors have also recently modified their holdings of the company. Quadrant Capital Group LLC raised its holdings in General Dynamics by 6.1% in the second quarter. Quadrant Capital Group LLC now owns 645 shares of the aerospace company’s stock worth $110,000 after buying an additional 37 shares during the last quarter. Vantage Investment Advisors LLC raised its holdings in General Dynamics by 9.3% in the second quarter. Vantage Investment Advisors LLC now owns 585 shares of the aerospace company’s stock worth $116,000 after buying an additional 50 shares during the last quarter. Captrust Financial Advisors purchased a new position in General Dynamics in the second quarter worth about $129,000. WFG Advisors LP raised its holdings in General Dynamics by 0.3% in the second quarter. WFG Advisors LP now owns 668 shares of the aerospace company’s stock worth $132,000 after buying an additional 2 shares during the last quarter. Finally, Edmond DE Rothschild Holding S.A. raised its holdings in General Dynamics by 65.3% in the second quarter. Edmond DE Rothschild Holding S.A. now owns 780 shares of the aerospace company’s stock worth $155,000 after buying an additional 308 shares during the last quarter. 86.87% of the stock is owned by institutional investors and hedge funds.
Several research analysts have recently weighed in on the stock. Cowen reissued a “buy” rating and set a $230.00 price objective on shares of General Dynamics in a report on Thursday, October 26th. ValuEngine cut shares of General Dynamics from a “buy” rating to a “hold” rating in a report on Tuesday, October 3rd. Zacks Investment Research raised shares of General Dynamics from a “hold” rating to a “buy” rating and set a $238.00 price objective for the company in a report on Thursday, October 26th. Credit Suisse Group reissued an “outperform” rating and set a $238.00 price objective (up from $216.00) on shares of General Dynamics in a report on Thursday, October 26th. Finally, Citigroup reissued a “neutral” rating and set a $215.00 price objective (up from $210.00) on shares of General Dynamics in a report on Monday, October 9th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and nine have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $218.24.
In other General Dynamics news, insider John Patrick Casey sold 34,945 shares of the company’s stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $201.38, for a total value of $7,037,224.10. Following the completion of the transaction, the insider now directly owns 144,378 shares in the company, valued at $29,074,841.64. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Gregory S. Gallopoulos sold 78,370 shares of the company’s stock in a transaction that occurred on Monday, November 6th. The stock was sold at an average price of $202.93, for a total transaction of $15,903,624.10. The disclosure for this sale can be found here. Insiders own 6.70% of the company’s stock.
Shares of General Dynamics Corporation (GD) traded down $1.43 during midday trading on Tuesday, reaching $199.64. 804,100 shares of the company traded hands, compared to its average volume of 1,149,249. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.37 and a quick ratio of 0.93. The company has a market capitalization of $60,036.07, a price-to-earnings ratio of 19.97, a price-to-earnings-growth ratio of 2.41 and a beta of 0.72. General Dynamics Corporation has a 12 month low of $168.00 and a 12 month high of $214.81.
General Dynamics (NYSE:GD) last announced its earnings results on Wednesday, October 25th. The aerospace company reported $2.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.43 by $0.09. The company had revenue of $7.58 billion during the quarter, compared to analyst estimates of $7.94 billion. General Dynamics had a net margin of 9.94% and a return on equity of 27.98%. The firm’s quarterly revenue was down 1.0% compared to the same quarter last year. During the same period in the previous year, the business posted $2.36 earnings per share. analysts predict that General Dynamics Corporation will post 9.81 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, February 9th. Investors of record on Friday, January 19th will be given a dividend of $0.84 per share. The ex-dividend date is Thursday, January 18th. This represents a $3.36 annualized dividend and a yield of 1.68%. General Dynamics’s dividend payout ratio (DPR) is 33.50%.
General Dynamics Company Profile
General Dynamics Corporation is a global aerospace and defense company. The Company offers a portfolio of products and services in business aviation; combat vehicles, weapons systems and munitions; information technology (IT) services and C4ISR (command, control, communications, computers, intelligence, surveillance and reconnaissance) solutions, and shipbuilding and ship repair.
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