Bard Financial Services Inc. bought a new position in General Dynamics Co. (NYSE:GD) in the fourth quarter, Holdings Channel reports. The institutional investor bought 12,655 shares of the aerospace company’s stock, valued at approximately $1,883,000.
Other large investors have also recently added to or reduced their stakes in the company. Rehmann Capital Advisory Group bought a new stake in General Dynamics in the 3rd quarter worth approximately $229,000. 180 Wealth Advisors LLC increased its stake in General Dynamics by 15.9% in the 4th quarter. 180 Wealth Advisors LLC now owns 10,622 shares of the aerospace company’s stock worth $1,627,000 after purchasing an additional 1,460 shares during the period. Personal CFO Solutions LLC increased its stake in General Dynamics by 6.1% in the 4th quarter. Personal CFO Solutions LLC now owns 10,264 shares of the aerospace company’s stock worth $1,527,000 after purchasing an additional 594 shares during the period. Teacher Retirement System of Texas increased its stake in General Dynamics by 88.0% in the 4th quarter. Teacher Retirement System of Texas now owns 109,177 shares of the aerospace company’s stock worth $16,248,000 after purchasing an additional 51,106 shares during the period. Finally, Captrust Financial Advisors increased its stake in General Dynamics by 10.8% in the 4th quarter. Captrust Financial Advisors now owns 11,389 shares of the aerospace company’s stock worth $1,695,000 after purchasing an additional 1,113 shares during the period. Institutional investors own 84.48% of the company’s stock.
Shares of GD stock opened at $184.79 on Thursday. The company has a 50 day moving average price of $173.49 and a 200-day moving average price of $154.39. The company has a quick ratio of 0.90, a current ratio of 1.29 and a debt-to-equity ratio of 0.68. The firm has a market capitalization of $52.40 billion, a PE ratio of 16.77, a P/E/G ratio of 2.40 and a beta of 1.03. General Dynamics Co. has a 52 week low of $121.67 and a 52 week high of $186.00.
The firm also recently announced a quarterly dividend, which will be paid on Friday, May 7th. Investors of record on Friday, April 9th will be given a dividend of $1.19 per share. This represents a $4.76 annualized dividend and a yield of 2.58%. This is a positive change from General Dynamics’s previous quarterly dividend of $1.10. The ex-dividend date is Thursday, April 8th. General Dynamics’s payout ratio is 36.73%.
GD has been the topic of a number of analyst reports. TheStreet raised General Dynamics from a “c+” rating to a “b-” rating in a research note on Thursday, December 17th. Morgan Stanley reduced their target price on General Dynamics from $161.00 to $149.00 and set an “underweight” rating on the stock in a research note on Monday, February 8th. Susquehanna boosted their target price on General Dynamics from $162.00 to $180.00 and gave the company a “positive” rating in a research note on Friday, January 29th. Barclays reissued a “buy” rating on shares of General Dynamics in a research note on Friday, April 2nd. Finally, Zacks Investment Research cut General Dynamics from a “hold” rating to a “sell” rating and set a $196.00 target price on the stock. in a research note on Wednesday. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $169.06.
About General Dynamics
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, and Marine Systems.
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