Pzena Investment Management LLC bought a new position in General Dynamics Corporation (NYSE:GD – Free Report) during the 2nd quarter, Holdings Channel.com reports. The fund bought 108,574 shares of the aerospace company’s stock, valued at approximately $38,461,000.
A number of other large investors have also made changes to their positions in GD. Whipplewood Advisors LLC increased its position in shares of General Dynamics by 1,725.0% during the 1st quarter. Whipplewood Advisors LLC now owns 73 shares of the aerospace company’s stock valued at $25,000 after purchasing an additional 69 shares during the last quarter. Paladin Partners LLC purchased a new position in shares of General Dynamics in the second quarter worth approximately $30,000. Scarborough Advisors LLC bought a new stake in General Dynamics during the first quarter valued at approximately $29,000. Wilkerson Advisory Group LLC increased its holdings in General Dynamics by 79.6% during the first quarter. Wilkerson Advisory Group LLC now owns 88 shares of the aerospace company’s stock valued at $30,000 after buying an additional 39 shares during the last quarter. Finally, Motiv8 Investments LLC purchased a new stake in General Dynamics during the fourth quarter valued at approximately $31,000. 86.14% of the stock is currently owned by institutional investors.
General Dynamics Price Performance
Shares of NYSE:GD opened at $390.67 on Tuesday. The company has a market capitalization of $105.70 billion, a P/E ratio of 23.84, a P/E/G ratio of 2.29 and a beta of 0.33. General Dynamics Corporation has a 1-year low of $306.77 and a 1-year high of $400.00. The firm’s 50 day simple moving average is $371.16 and its two-hundred day simple moving average is $354.81. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.44 and a quick ratio of 0.96.
General Dynamics Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, November 13th. Shareholders of record on Friday, October 9th will be issued a dividend of $1.59 per share. The ex-dividend date of this dividend is Friday, October 9th. This represents a $6.36 dividend on an annualized basis and a yield of 1.6%. General Dynamics’s dividend payout ratio (DPR) is currently 38.80%.
Insider Activity
In related news, CEO Phebe N. Novakovic sold 51,568 shares of the stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $382.58, for a total transaction of $19,728,885.44. Following the completion of the sale, the chief executive officer owned 766,457 shares in the company, valued at approximately $293,231,119.06. This trade represents a 6.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Mark Malcolm sold 5,480 shares of the business’s stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $365.00, for a total value of $2,000,200.00. Following the completion of the transaction, the director directly owned 10,643 shares in the company, valued at approximately $3,884,695. This represents a 33.99% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 100,228 shares of company stock worth $38,052,853 over the last ninety days. Corporate insiders own 1.40% of the company’s stock.
Analysts Set New Price Targets
Several research analysts have recently weighed in on GD shares. Susquehanna lifted their price target on shares of General Dynamics from $420.00 to $455.00 and gave the stock a “positive” rating in a research note on Thursday, July 30th. JPMorgan Chase & Co. upped their price objective on General Dynamics from $385.00 to $400.00 and gave the stock an “overweight” rating in a research note on Thursday, April 30th. Royal Bank Of Canada raised their target price on General Dynamics from $385.00 to $410.00 and gave the stock a “sector perform” rating in a report on Thursday, July 30th. Morgan Stanley boosted their price target on General Dynamics from $435.00 to $465.00 and gave the company an “overweight” rating in a report on Thursday, July 30th. Finally, TD Cowen upped their price target on General Dynamics from $390.00 to $420.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $410.89.
Check Out Our Latest Analysis on General Dynamics
General Dynamics Profile
General Dynamics is a major American aerospace and defense contractor that designs, manufactures and supports a broad range of products and services for government and commercial customers worldwide. Headquartered in the United States (Reston, Virginia), the company supplies platforms and systems used by armed forces, civil authorities and private operators across multiple domains including air, land, sea and cyber.
Its principal activities span several operating businesses: a business aviation unit that develops and supports Gulfstream business jets; land systems that produce armored combat vehicles and related logistics and sustainment services; marine systems that design and construct submarines and surface ships for navies; and mission systems and information technology operations that provide command-and-control, communications, cybersecurity and systems-integration services.
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