X Square Capital LLC bought a new position in shares of General Dynamics Co. (NYSE:GD) during the 4th quarter, HoldingsChannel reports. The firm bought 6,483 shares of the aerospace company’s stock, valued at approximately $1,319,000. General Dynamics comprises approximately 1.4% of X Square Capital LLC’s holdings, making the stock its 26th largest position.
A number of other institutional investors have also modified their holdings of GD. Resources Investment Advisors Inc. grew its holdings in General Dynamics by 92.3% during the 4th quarter. Resources Investment Advisors Inc. now owns 625 shares of the aerospace company’s stock worth $127,000 after acquiring an additional 300 shares in the last quarter. NuWave Investment Management LLC bought a new position in General Dynamics during the 4th quarter worth about $130,000. Fieldpoint Private Securities LLC bought a new position in General Dynamics during the 3rd quarter worth about $148,000. Independence Bank of Kentucky bought a new position in General Dynamics during the 4th quarter worth about $157,000. Finally, Sit Investment Associates Inc. grew its holdings in General Dynamics by 170.0% during the 4th quarter. Sit Investment Associates Inc. now owns 953 shares of the aerospace company’s stock worth $194,000 after acquiring an additional 600 shares in the last quarter. Institutional investors own 86.88% of the company’s stock.
General Dynamics Co. (GD) opened at $226.78 on Tuesday. General Dynamics Co. has a 1 year low of $183.72 and a 1 year high of $229.54. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.99 and a current ratio of 1.40. The stock has a market cap of $65,622.33, a P/E ratio of 23.75, a price-to-earnings-growth ratio of 2.34 and a beta of 0.85.
The firm also recently declared a quarterly dividend, which was paid on Friday, February 9th. Shareholders of record on Friday, January 19th were given a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a yield of 1.48%. The ex-dividend date was Thursday, January 18th. General Dynamics’s dividend payout ratio is presently 35.18%.
Several research analysts have issued reports on GD shares. JPMorgan Chase & Co. cut shares of General Dynamics from a “neutral” rating to an “underweight” rating and dropped their target price for the stock from $225.00 to $215.00 in a report on Tuesday, December 12th. Zacks Investment Research cut shares of General Dynamics from a “hold” rating to a “sell” rating in a report on Tuesday, December 26th. Royal Bank of Canada set a $239.00 price target on shares of General Dynamics and gave the company a “buy” rating in a report on Wednesday, November 15th. Argus upgraded shares of General Dynamics to a “buy” rating and raised their price target for the company from $230.00 to $250.00 in a report on Tuesday, January 30th. Finally, ValuEngine cut shares of General Dynamics from a “buy” rating to a “hold” rating in a report on Thursday, November 30th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and thirteen have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $235.88.
In other news, Director John M. Keane sold 1,800 shares of General Dynamics stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $216.43, for a total transaction of $389,574.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John Patrick Casey sold 9,304 shares of General Dynamics stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $215.29, for a total transaction of $2,003,058.16. The disclosure for this sale can be found here. Company insiders own 6.70% of the company’s stock.
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General Dynamics Company 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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