Rockefeller Capital Management L.P. boosted its stake in General Dynamics Corporation (NYSE:GD – Free Report) by 12.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 106,218 shares of the aerospace company’s stock after acquiring an additional 11,806 shares during the period. Rockefeller Capital Management L.P.’s holdings in General Dynamics were worth $35,760,000 at the end of the most recent reporting period.
Several other institutional investors have also added to or reduced their stakes in the stock. Brighton Jones LLC raised its stake in General Dynamics by 16.9% in the fourth quarter. Brighton Jones LLC now owns 2,885 shares of the aerospace company’s stock worth $760,000 after buying an additional 417 shares in the last quarter. Acadian Asset Management LLC boosted its position in General Dynamics by 140.2% during the 1st quarter. Acadian Asset Management LLC now owns 3,445 shares of the aerospace company’s stock valued at $938,000 after acquiring an additional 2,011 shares in the last quarter. Sivia Capital Partners LLC bought a new position in shares of General Dynamics in the 2nd quarter worth approximately $240,000. Flow Traders U.S. LLC purchased a new position in shares of General Dynamics in the 2nd quarter valued at approximately $352,000. Finally, Jump Financial LLC bought a new stake in shares of General Dynamics during the second quarter valued at approximately $1,284,000. 86.14% of the stock is currently owned by institutional investors.
General Dynamics Trading Up 0.1%
NYSE GD opened at $350.39 on Monday. General Dynamics Corporation has a 12 month low of $275.49 and a 12 month high of $369.70. The company has a current ratio of 1.38, a quick ratio of 0.90 and a debt-to-equity ratio of 0.24. The stock’s fifty day moving average price is $341.10 and its 200-day moving average price is $347.30. The stock has a market cap of $94.76 billion, a P/E ratio of 22.05, a P/E/G ratio of 2.17 and a beta of 0.34.
General Dynamics Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Friday, August 7th. Investors of record on Thursday, July 2nd will be given a dividend of $1.59 per share. The ex-dividend date of this dividend is Thursday, July 2nd. This represents a $6.36 annualized dividend and a dividend yield of 1.8%. General Dynamics’s dividend payout ratio (DPR) is 40.03%.
Insiders Place Their Bets
In related news, EVP Mark Lagrand Burns sold 36,480 shares of the business’s stock in a transaction that occurred on Tuesday, May 12th. The shares were 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 directly owned 38,975 shares in the company, valued at $13,457,677.75. The trade was a 48.35% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.40% of the stock is currently owned by insiders.
Analyst Upgrades and Downgrades
A number of equities analysts have issued reports on GD shares. Wells Fargo & Company initiated coverage on General Dynamics in a report on Wednesday, April 1st. They issued an “overweight” rating and a $400.00 price objective for the company. Weiss Ratings lowered shares of General Dynamics from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, May 19th. Royal Bank Of Canada reissued a “sector perform” rating and set a $385.00 price target on shares of General Dynamics in a research report on Thursday, April 30th. Jefferies Financial Group upgraded shares of General Dynamics from a “hold” rating to a “buy” rating and upped their price objective for the stock from $380.00 to $400.00 in a report on Thursday, June 11th. Finally, BNP Paribas Exane decreased their target price on shares of General Dynamics from $430.00 to $390.00 and set an “outperform” rating for the company in a research note on Thursday, April 30th. Two analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, General Dynamics currently has a consensus rating of “Moderate Buy” and a consensus price target of $388.40.
View Our Latest Stock Report on GD
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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