Rakuten Investment Management Inc. lifted its position in shares of General Dynamics Corporation (NYSE:GD – Free Report) by 259.4% in the fourth quarter, Holdings Channel reports. The institutional investor owned 32,298 shares of the aerospace company’s stock after acquiring an additional 23,312 shares during the period. Rakuten Investment Management Inc.’s holdings in General Dynamics were worth $10,997,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Dunhill Financial LLC lifted its holdings in shares of General Dynamics by 620.0% during the third quarter. Dunhill Financial LLC now owns 72 shares of the aerospace company’s stock worth $25,000 after buying an additional 62 shares in the last quarter. KERR FINANCIAL PLANNING Corp acquired a new stake in shares of General Dynamics during the third quarter worth $25,000. Dagco Inc. acquired a new stake in shares of General Dynamics during the fourth quarter worth $25,000. Burkett Financial Services LLC lifted its holdings in shares of General Dynamics by 650.0% during the third quarter. Burkett Financial Services LLC now owns 75 shares of the aerospace company’s stock worth $26,000 after buying an additional 65 shares in the last quarter. Finally, Steph & Co. lifted its holdings in shares of General Dynamics by 65.2% during the fourth quarter. Steph & Co. now owns 76 shares of the aerospace company’s stock worth $26,000 after buying an additional 30 shares in the last quarter. Institutional investors and hedge funds own 86.14% of the company’s stock.
Insider Buying and Selling
In related news, EVP Mark Lagrand Burns sold 36,480 shares of the business’s stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $345.29, for a total value of $12,596,179.20. Following the completion of the transaction, the executive vice president owned 38,975 shares of the company’s stock, valued at $13,457,677.75. The trade was a 48.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.40% of the stock is currently owned by company insiders.
General Dynamics Stock Up 1.4%
General Dynamics (NYSE:GD – Get Free Report) last posted its quarterly earnings results on Wednesday, April 29th. The aerospace company reported $4.10 EPS for the quarter, beating analysts’ consensus estimates of $3.67 by $0.43. The business had revenue of $13.48 billion during the quarter, compared to the consensus estimate of $12.70 billion. General Dynamics had a return on equity of 17.41% and a net margin of 8.07%.General Dynamics’s revenue for the quarter was up 10.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.66 earnings per share. Sell-side analysts anticipate that General Dynamics Corporation will post 16.62 EPS for the current fiscal year.
General Dynamics Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, August 7th. Investors of record on Thursday, July 2nd will be paid a $1.59 dividend. This represents a $6.36 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend is Thursday, July 2nd. General Dynamics’s payout ratio is 40.03%.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently weighed in on GD shares. Deutsche Bank Aktiengesellschaft dropped their target price on General Dynamics from $387.00 to $377.00 and set a “hold” rating for the company in a report on Wednesday, May 6th. Wells Fargo & Company started coverage on General Dynamics in a report on Wednesday, April 1st. They set an “overweight” rating and a $400.00 target price for the company. JPMorgan Chase & Co. lifted their target price on General Dynamics from $385.00 to $400.00 and gave the stock an “overweight” rating in a report on Thursday, April 30th. Morgan Stanley lifted their target price on General Dynamics from $410.00 to $435.00 and gave the stock an “overweight” rating in a report on Thursday, April 30th. Finally, Jefferies Financial Group raised General Dynamics from a “hold” rating to a “buy” rating and lifted their target price for the stock from $380.00 to $400.00 in a report on Thursday, June 11th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, General Dynamics presently has a consensus rating of “Moderate Buy” and an average price target of $388.40.
Get Our Latest Research Report on General Dynamics
General Dynamics Company 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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