FIL Ltd decreased its holdings in shares of General Dynamics Co. (NYSE:GD) by 64.7% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 30,479 shares of the aerospace company’s stock after selling 55,924 shares during the period. FIL Ltd’s holdings in General Dynamics were worth $4,536,000 at the end of the most recent quarter.
A number of other hedge funds also recently modified their holdings of GD. Sage Capital Advisors llc raised its stake in General Dynamics by 0.3% during the 4th quarter. Sage Capital Advisors llc now owns 19,530 shares of the aerospace company’s stock valued at $3,077,000 after acquiring an additional 67 shares in the last quarter. Manchester Financial Inc. raised its stake in shares of General Dynamics by 10.5% in the 4th quarter. Manchester Financial Inc. now owns 738 shares of the aerospace company’s stock worth $110,000 after buying an additional 70 shares in the last quarter. New England Professional Planning Group Inc. lifted its holdings in shares of General Dynamics by 2.8% in the fourth quarter. New England Professional Planning Group Inc. now owns 2,665 shares of the aerospace company’s stock valued at $395,000 after buying an additional 72 shares during the period. SRS Capital Advisors Inc. grew its holdings in General Dynamics by 9.2% during the fourth quarter. SRS Capital Advisors Inc. now owns 875 shares of the aerospace company’s stock worth $130,000 after acquiring an additional 74 shares during the period. Finally, Texas Yale Capital Corp. raised its position in General Dynamics by 0.8% in the third quarter. Texas Yale Capital Corp. now owns 8,993 shares of the aerospace company’s stock worth $1,245,000 after acquiring an additional 75 shares in the last quarter. Hedge funds and other institutional investors own 84.48% of the company’s stock.
Several brokerages have recently issued reports on GD. Susquehanna lifted their price objective on shares of General Dynamics from $162.00 to $180.00 and gave the stock a “positive” rating in a research note on Friday, January 29th. Morgan Stanley cut their price objective on General Dynamics from $161.00 to $149.00 and set an “underweight” rating for the company in a research report on Monday, February 8th. Susquehanna Bancshares lifted their target price on General Dynamics from $162.00 to $180.00 and gave the stock a “positive” rating in a report on Friday, January 29th. Credit Suisse Group reduced their target price on General Dynamics from $156.00 to $140.00 and set a “neutral” rating for the company in a report on Thursday, October 29th. They noted that the move was a valuation call. Finally, TheStreet upgraded General Dynamics from a “c+” rating to a “b-” rating in a research report on Thursday, December 17th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the company’s stock. General Dynamics presently has a consensus rating of “Hold” and an average price target of $162.07.
General Dynamics (NYSE:GD) last released its earnings results on Tuesday, January 26th. The aerospace company reported $3.49 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.54 by ($0.05). General Dynamics had a return on equity of 23.00% and a net margin of 8.33%. The company had revenue of $10.48 billion during the quarter, compared to analysts’ expectations of $10.76 billion. During the same quarter in the previous year, the company earned $3.51 EPS. The firm’s quarterly revenue was down 2.7% compared to the same quarter last year. On average, analysts predict that General Dynamics Co. will post 11.06 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, February 5th. Investors of record on Friday, January 15th were given a dividend of $1.10 per share. The ex-dividend date of this dividend was Thursday, January 14th. This represents a $4.40 dividend on an annualized basis and a yield of 2.64%. General Dynamics’s payout ratio is 36.73%.
General Dynamics Profile
General Dynamics Corp. is an aerospace and defense company, which engages in the provision of tanks, rockets, missiles, submarines, warships, fighters and electronics to all of the military services. It operates through the following segments: Aerospace, Combat Systems, Information Technology, Mission Systems and Marine Systems.
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