Cibc Bank USA reduced its position in shares of General Dynamics Co. (NYSE:GD) by 24.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 49,625 shares of the aerospace company’s stock after selling 16,101 shares during the period. General Dynamics comprises 1.3% of Cibc Bank USA’s portfolio, making the stock its 13th largest position. Cibc Bank USA’s holdings in General Dynamics were worth $10,097,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. WFG Advisors LP increased its stake in shares of General Dynamics by 0.3% in the second quarter. WFG Advisors LP now owns 668 shares of the aerospace company’s stock worth $132,000 after buying an additional 2 shares during the last quarter. YorkBridge Wealth Partners LLC increased its stake in shares of General Dynamics by 0.5% in the second quarter. YorkBridge Wealth Partners LLC now owns 992 shares of the aerospace company’s stock worth $198,000 after buying an additional 5 shares during the last quarter. Pathstone Family Office LLC increased its stake in shares of General Dynamics by 100.0% in the second quarter. Pathstone Family Office LLC now owns 24 shares of the aerospace company’s stock worth $4,754,000 after buying an additional 12 shares during the last quarter. Comerica Securities Inc. increased its stake in shares of General Dynamics by 0.6% in the second quarter. Comerica Securities Inc. now owns 2,350 shares of the aerospace company’s stock worth $465,000 after buying an additional 15 shares during the last quarter. Finally, Bahl & Gaynor Inc. increased its stake in shares of General Dynamics by 0.4% in the second quarter. Bahl & Gaynor Inc. now owns 4,413 shares of the aerospace company’s stock worth $762,000 after buying an additional 17 shares during the last quarter. 86.76% of the stock is currently owned by institutional investors and hedge funds.
GD has been the subject of a number of research analyst reports. Royal Bank of Canada set a $239.00 price target on shares of General Dynamics and gave the stock a “buy” rating in a research note on Wednesday, November 15th. Cowen reiterated a “buy” rating and set a $230.00 target price on shares of General Dynamics in a research note on Thursday, October 19th. Deutsche Bank reiterated a “hold” rating and set a $210.00 target price (up previously from $200.00) on shares of General Dynamics in a research note on Monday, October 2nd. ValuEngine lowered shares of General Dynamics from a “buy” rating to a “hold” rating in a research note on Thursday, November 30th. Finally, Stifel Nicolaus boosted their target price on shares of General Dynamics from $200.00 to $210.00 and gave the company a “hold” rating in a research note on Thursday, October 26th. Three analysts have rated the stock with a sell rating, four have given a hold rating and ten have issued a buy rating to the company. The company has an average rating of “Hold” and an average target price of $218.67.
General Dynamics Co. (GD) traded up $1.30 during trading on Friday, hitting $209.10. 1,407,603 shares of the stock traded hands, compared to its average volume of 1,441,346. The company has a market capitalization of $62,430.00, a price-to-earnings ratio of 20.76, a P/E/G ratio of 2.25 and a beta of 0.72. The company has a quick ratio of 0.93, a current ratio of 1.37 and a debt-to-equity ratio of 0.34. General Dynamics Co. has a fifty-two week low of $172.43 and a fifty-two week high of $214.81.
General Dynamics (NYSE:GD) last released its quarterly earnings results on Wednesday, October 25th. The aerospace company reported $2.52 EPS for the quarter, topping the consensus estimate of $2.43 by $0.09. The business had revenue of $7.58 billion during the quarter, compared to analyst estimates of $7.94 billion. General Dynamics had a net margin of 9.94% and a return on equity of 27.98%. The company’s quarterly revenue was down 1.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.36 earnings per share. research analysts expect that General Dynamics Co. will post 9.81 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, February 9th. Stockholders of record on Friday, January 19th will be given a dividend of $0.84 per share. The ex-dividend date of this dividend is Thursday, January 18th. This represents a $3.36 annualized dividend and a dividend yield of 1.61%. General Dynamics’s dividend payout ratio is currently 33.37%.
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General Dynamics Profile
General Dynamics Corporation is a global aerospace and defense company. The Company offers a portfolio of products and services in business aviation; combat vehicles, weapons systems and munitions; information technology (IT) services and C4ISR (command, control, communications, computers, intelligence, surveillance and reconnaissance) solutions, and shipbuilding and ship repair.
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