Ladenburg Thalmann Financial Services Inc. Has $9.01 Million Holdings in General Dynamics Co. (NYSE:GD)
Ladenburg Thalmann Financial Services Inc. lifted its stake in shares of General Dynamics Co. (NYSE:GD) by 26.5% in the 4th quarter, Holdings Channel reports. The fund owned 60,032 shares of the aerospace company’s stock after acquiring an additional 12,574 shares during the quarter. Ladenburg Thalmann Financial Services Inc.’s holdings in General Dynamics were worth $9,013,000 as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. Bank of Hawaii grew its position in General Dynamics by 0.9% during the fourth quarter. Bank of Hawaii now owns 6,054 shares of the aerospace company’s stock worth $1,068,000 after buying an additional 54 shares in the last quarter. Wealthcare Advisory Partners LLC lifted its holdings in shares of General Dynamics by 30.2% in the fourth quarter. Wealthcare Advisory Partners LLC now owns 263 shares of the aerospace company’s stock worth $46,000 after acquiring an additional 61 shares during the last quarter. Patriot Investment Management Inc. boosted its stake in shares of General Dynamics by 3.1% in the 4th quarter. Patriot Investment Management Inc. now owns 2,009 shares of the aerospace company’s stock valued at $354,000 after purchasing an additional 61 shares in the last quarter. Hills Bank & Trust Co. grew its holdings in shares of General Dynamics by 1.7% during the 4th quarter. Hills Bank & Trust Co. now owns 3,984 shares of the aerospace company’s stock valued at $703,000 after purchasing an additional 65 shares during the last quarter. Finally, Girard Partners LTD. grew its holdings in shares of General Dynamics by 3.4% during the 4th quarter. Girard Partners LTD. now owns 2,108 shares of the aerospace company’s stock valued at $371,000 after purchasing an additional 69 shares during the last quarter. Institutional investors and hedge funds own 86.39% of the company’s stock.
A number of brokerages have recently commented on GD. Argus upgraded General Dynamics from a “hold” rating to a “buy” rating and set a $195.00 price target for the company in a research note on Monday, February 3rd. TheStreet downgraded shares of General Dynamics from a “b” rating to a “c+” rating in a research report on Friday, March 13th. Morgan Stanley reduced their target price on shares of General Dynamics from $175.00 to $146.00 and set an “underweight” rating on the stock in a report on Tuesday. ValuEngine upgraded shares of General Dynamics from a “sell” rating to a “hold” rating in a research report on Friday, March 6th. Finally, Cfra raised shares of General Dynamics from a “hold” rating to a “buy” rating and raised their price target for the company from $195.00 to $211.00 in a research note on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and nine have assigned a buy rating to the stock. General Dynamics presently has a consensus rating of “Buy” and an average price target of $203.36.
General Dynamics (NYSE:GD) last released its earnings results on Wednesday, January 29th. The aerospace company reported $3.51 earnings per share for the quarter, beating analysts’ consensus estimates of $3.44 by $0.07. General Dynamics had a net margin of 8.85% and a return on equity of 26.70%. The business had revenue of $10.77 billion during the quarter, compared to the consensus estimate of $10.64 billion. During the same quarter in the prior year, the firm posted $3.07 EPS. The company’s revenue for the quarter was up 3.8% compared to the same quarter last year. Equities analysts anticipate that General Dynamics Co. will post 12.56 earnings per share for the current fiscal year.
General Dynamics announced that its board has approved a stock repurchase program on Wednesday, March 4th that allows the company to buyback 10,000,000 shares. This buyback authorization allows the aerospace company to reacquire shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.
The company also recently announced a quarterly dividend, which will be paid on Friday, May 8th. Investors of record on Friday, April 10th will be paid a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a yield of 3.61%. The ex-dividend date is Wednesday, April 8th. This is an increase from General Dynamics’s previous quarterly dividend of $1.02. General Dynamics’s dividend payout ratio (DPR) is currently 34.06%.
About General Dynamics
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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