Acropolis Investment Management LLC cut its position in General Dynamics Co. (NYSE:GD – Get Rating) by 2.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,081 shares of the aerospace company’s stock after selling 70 shares during the quarter. Acropolis Investment Management LLC’s holdings in General Dynamics were worth $764,000 as of its most recent SEC filing.
Other hedge funds also recently made changes to their positions in the company. GoalVest Advisory LLC bought a new position in shares of General Dynamics during the fourth quarter worth about $25,000. MADDEN SECURITIES Corp acquired a new stake in shares of General Dynamics during the fourth quarter worth $25,000. Certified Advisory Corp acquired a new stake in shares of General Dynamics during the first quarter worth $25,000. Wagner Wealth Management LLC acquired a new position in General Dynamics in the second quarter valued at $32,000. Finally, Coston McIsaac & Partners bought a new stake in General Dynamics during the second quarter valued at $32,000. 84.83% of the stock is currently owned by institutional investors.
Insider Transactions at General Dynamics
In other news, VP Mark Lagrand Burns sold 27,600 shares of the business’s stock in a transaction dated Friday, January 27th. The shares were sold at an average price of $226.93, for a total transaction of $6,263,268.00. Following the completion of the sale, the vice president now directly owns 56,909 shares of the company’s stock, valued at $12,914,359.37. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.50% of the stock is currently owned by insiders.
General Dynamics Stock Performance
General Dynamics (NYSE:GD – Get Rating) last posted its earnings results on Wednesday, January 25th. The aerospace company reported $3.58 EPS for the quarter, topping the consensus estimate of $3.53 by $0.05. The company had revenue of $10.85 billion during the quarter, compared to the consensus estimate of $10.66 billion. General Dynamics had a net margin of 8.60% and a return on equity of 18.93%. The firm’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same period in the previous year, the firm posted $3.39 earnings per share. Analysts forecast that General Dynamics Co. will post 12.74 EPS for the current fiscal year.
General Dynamics Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, May 12th. Stockholders of record on Friday, April 14th will be given a dividend of $1.32 per share. The ex-dividend date of this dividend is Thursday, April 13th. This is an increase from General Dynamics’s previous quarterly dividend of $1.26. This represents a $5.28 annualized dividend and a dividend yield of 2.42%. General Dynamics’s payout ratio is presently 41.31%.
Analyst Upgrades and Downgrades
GD has been the subject of several research analyst reports. Citigroup lowered their price objective on General Dynamics from $298.00 to $283.00 and set a “buy” rating for the company in a research report on Thursday, January 26th. Cowen boosted their price target on General Dynamics from $260.00 to $285.00 in a research note on Tuesday, January 3rd. Susquehanna reduced their price objective on shares of General Dynamics from $285.00 to $263.00 in a research report on Thursday, January 26th. Robert W. Baird dropped their target price on shares of General Dynamics from $290.00 to $268.00 in a research report on Thursday, January 26th. Finally, Morgan Stanley raised their price target on shares of General Dynamics from $243.00 to $248.00 in a report on Thursday, January 26th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $267.15.
General Dynamics Profile
General Dynamics Corp. is a global aerospace and defense company, which engages in design, engineering, and manufacturing to deliver state-of-the-art solutions. It operates through the following business segments: Aerospace, Marine Systems, Combat Systems, and Technologies. The Aerospace segment designs, manufactures, and sells business jets.
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