Boston Partners cut its position in shares of General Dynamics Co. (NYSE:GD) by 6.1% during the 4th quarter, HoldingsChannel reports. The firm owned 199,834 shares of the aerospace company’s stock after selling 12,956 shares during the period. Boston Partners’ holdings in General Dynamics were worth $35,247,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in GD. Stifel Financial Corp boosted its position in shares of General Dynamics by 171.4% during the third quarter. Stifel Financial Corp now owns 486,396 shares of the aerospace company’s stock valued at $88,547,000 after purchasing an additional 307,149 shares in the last quarter. Vaughan Nelson Investment Management L.P. boosted its position in shares of General Dynamics by 49.4% during the third quarter. Vaughan Nelson Investment Management L.P. now owns 499,722 shares of the aerospace company’s stock valued at $91,314,000 after purchasing an additional 165,335 shares in the last quarter. Squarepoint Ops LLC boosted its position in shares of General Dynamics by 162.2% during the third quarter. Squarepoint Ops LLC now owns 246,724 shares of the aerospace company’s stock valued at $45,084,000 after purchasing an additional 152,641 shares in the last quarter. California Public Employees Retirement System raised its stake in General Dynamics by 30.7% during the third quarter. California Public Employees Retirement System now owns 586,483 shares of the aerospace company’s stock valued at $107,168,000 after buying an additional 137,707 shares during the last quarter. Finally, Cornerstone Investment Partners LLC raised its stake in General Dynamics by 2,938.7% during the fourth quarter. Cornerstone Investment Partners LLC now owns 139,934 shares of the aerospace company’s stock valued at $24,677,000 after buying an additional 135,329 shares during the last quarter. Institutional investors own 86.18% of the company’s stock.
In other news, EVP Mark C. Roualet sold 50,195 shares of the business’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $181.78, for a total value of $9,124,447.10. Following the completion of the transaction, the executive vice president now owns 169,443 shares in the company, valued at $30,801,348.54. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 7.10% of the stock is owned by insiders.
General Dynamics (NYSE:GD) last announced its quarterly earnings data on Wednesday, January 29th. The aerospace company reported $3.51 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $3.44 by $0.07. General Dynamics had a return on equity of 26.70% and a net margin of 8.85%. The business had revenue of $10.77 billion during the quarter, compared to analysts’ expectations of $10.64 billion. During the same quarter in the previous year, the business earned $3.07 earnings per share. The firm’s quarterly revenue was up 3.8% compared to the same quarter last year. As a group, equities research analysts predict that General Dynamics Co. will post 12.65 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, February 7th. Stockholders of record on Friday, January 17th were paid a $1.02 dividend. This represents a $4.08 annualized dividend and a dividend yield of 2.17%. The ex-dividend date was Thursday, January 16th. General Dynamics’s dividend payout ratio is currently 34.06%.
GD has been the subject of a number of recent research reports. Cowen reiterated a “buy” rating and set a $215.00 price objective on shares of General Dynamics in a research note on Tuesday, December 17th. JPMorgan Chase & Co. upgraded General Dynamics from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $210.00 to $225.00 in a research note on Thursday, February 6th. ValuEngine cut General Dynamics from a “hold” rating to a “sell” rating in a research note on Thursday, February 6th. Cfra upgraded General Dynamics from a “hold” rating to a “buy” rating and lifted their price objective for the company from $195.00 to $211.00 in a research note on Wednesday. Finally, Morgan Stanley lifted their price objective on General Dynamics from $172.00 to $175.00 and gave the company an “underweight” rating in a research note on Thursday, December 12th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and eight have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $203.64.
About General Dynamics
General Dynamics Corporation operates as an aerospace and defense company worldwide. It operates in five segments: Aerospace, Combat Systems, Information Technology, Mission Systems, and Marine Systems. The Aerospace segment designs, manufactures, and supports business-jet aircraft; and offers business-aviation services, including maintenance, fixed-base operation, government fleet, aircraft management, charter, and staffing services, as well as integrated aviation solutions.
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