O Domhnaill Enterprises Inc. bought a new stake in shares of General Dynamics Corporation (NYSE:GD – Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 3,676 shares of the aerospace company’s stock, valued at approximately $1,262,000.
Other hedge funds have also added to or reduced their stakes in the company. KERR FINANCIAL PLANNING Corp purchased a new stake in shares of General Dynamics in the 3rd quarter worth $25,000. Dagco Inc. purchased a new position in General Dynamics in the fourth quarter valued at about $25,000. Burkett Financial Services LLC lifted its position 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 valued at $26,000 after buying an additional 65 shares during the last quarter. Steph & Co. lifted its holdings in shares of General Dynamics by 65.2% during the 4th quarter. Steph & Co. now owns 76 shares of the aerospace company’s stock valued at $26,000 after purchasing an additional 30 shares during the last quarter. Finally, Center for Financial Planning Inc. boosted its position in shares of General Dynamics by 220.7% in the 4th quarter. Center for Financial Planning Inc. now owns 93 shares of the aerospace company’s stock worth $31,000 after purchasing an additional 64 shares in the last quarter. 86.14% of the stock is currently owned by institutional investors.
Insiders Place Their Bets
In other General Dynamics news, Director Mark Malcolm sold 5,480 shares of General Dynamics 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 sale, the director owned 10,643 shares of the company’s stock, valued at approximately $3,884,695. The trade was a 33.99% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Mark Lagrand Burns sold 36,480 shares of the business’s stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $345.29, for a total transaction of $12,596,179.20. Following the sale, the executive vice president owned 38,975 shares in the company, valued at $13,457,677.75. The trade was a 48.35% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 78,190 shares of company stock worth $27,041,022. 1.40% of the stock is currently owned by insiders.
General Dynamics Stock Down 0.0%
General Dynamics (NYSE:GD – Get Free Report) last announced its quarterly earnings results on Wednesday, April 29th. The aerospace company reported $4.10 EPS for the quarter, beating the consensus estimate of $3.67 by $0.43. The company had revenue of $13.48 billion for the quarter, compared to analyst estimates of $12.70 billion. General Dynamics had a net margin of 8.07% and a return on equity of 17.41%. The firm’s revenue was up 10.3% on a year-over-year basis. During the same period in the prior year, the firm posted $3.66 earnings per share. Analysts forecast that General Dynamics Corporation will post 16.63 earnings per share for the current fiscal year.
General Dynamics Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Friday, August 7th. Shareholders of record on Thursday, July 2nd will be paid a $1.59 dividend. This represents a $6.36 annualized dividend and a dividend yield of 1.7%. The ex-dividend date is Thursday, July 2nd. General Dynamics’s dividend payout ratio (DPR) is 40.03%.
Analyst Ratings Changes
Several research analysts have recently issued reports on the company. Wells Fargo & Company initiated coverage on General Dynamics in a research note on Wednesday, April 1st. They issued an “overweight” rating and a $400.00 price objective for the company. Morgan Stanley raised their price objective on General Dynamics from $410.00 to $435.00 and gave the company an “overweight” rating in a report on Thursday, April 30th. Bank of America upped their price target on shares of General Dynamics from $400.00 to $415.00 and gave the stock a “buy” rating in a research report on Monday. Weiss Ratings raised shares of General Dynamics from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, July 1st. Finally, Jefferies Financial Group raised shares of 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 research note on Thursday, June 11th. Two research 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 issued a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $389.15.
View Our Latest Stock 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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