General Dynamics Corporation (GD) Shares Bought by Zions Bancorporation
Zions Bancorporation increased its stake in General Dynamics Corporation (NYSE:GD) by 230.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,384 shares of the aerospace company’s stock after purchasing an additional 1,663 shares during the period. Zions Bancorporation’s holdings in General Dynamics were worth $491,000 as of its most recent SEC filing.
A number of other hedge funds also recently bought and sold shares of the stock. Capital International Investors raised its position in General Dynamics by 9.5% in the 3rd quarter. Capital International Investors now owns 1,472,000 shares of the aerospace company’s stock worth $302,614,000 after purchasing an additional 128,000 shares during the last quarter. Capital Guardian Trust Co. bought a new stake in shares of General Dynamics during the 3rd quarter valued at $2,796,000. Janus Henderson Group PLC raised its position in shares of General Dynamics by 6.1% during the 3rd quarter. Janus Henderson Group PLC now owns 5,302,868 shares of the aerospace company’s stock valued at $1,090,164,000 after acquiring an additional 304,175 shares during the last quarter. Vident Investment Advisory LLC raised its position in shares of General Dynamics by 135.6% during the 3rd quarter. Vident Investment Advisory LLC now owns 3,716 shares of the aerospace company’s stock valued at $764,000 after acquiring an additional 2,139 shares during the last quarter. Finally, Capital International Inc. CA bought a new stake in shares of General Dynamics during the 3rd quarter valued at $699,000. Hedge funds and other institutional investors own 86.87% of the company’s stock.
Several analysts have commented on the stock. Jefferies Group reiterated a “buy” rating and set a $236.00 target price on shares of General Dynamics in a research report on Thursday, October 26th. Zacks Investment Research cut shares of General Dynamics from a “buy” rating to a “hold” rating in a research report on Friday, October 27th. Cowen reiterated a “buy” rating and set a $230.00 target price on shares of General Dynamics in a research report on Thursday, October 26th. ValuEngine cut shares of General Dynamics from a “buy” rating to a “hold” rating in a research report on Thursday, November 30th. Finally, Credit Suisse Group reiterated an “outperform” rating and set a $238.00 target price (up previously from $216.00) on shares of General Dynamics in a research report on Thursday, October 26th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and nine have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $218.45.
General Dynamics (NYSE:GD) last announced its quarterly 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. General Dynamics had a net margin of 9.94% and a return on equity of 27.98%. The company had revenue of $7.58 billion during the quarter, compared to analyst estimates of $7.94 billion. During the same quarter in the previous year, the business earned $2.36 EPS. The firm’s revenue was down 1.0% on a year-over-year basis. sell-side analysts expect that General Dynamics Corporation will post 9.81 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, February 9th. Stockholders of record on Friday, January 19th will be issued a $0.84 dividend. This represents a $3.36 annualized dividend and a dividend yield of 1.67%. The ex-dividend date is Thursday, January 18th. General Dynamics’s dividend payout ratio (DPR) is 33.50%.
In other news, insider John Patrick Casey sold 34,945 shares of the business’s stock in a transaction 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 owns 144,378 shares of the company’s stock, valued at approximately $29,074,841.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Gregory S. Gallopoulos sold 78,370 shares of the business’s stock in a transaction on Monday, November 6th. The shares were 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. 6.70% of the stock is owned by insiders.
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General Dynamics 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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