Capital Investment Advisors LLC increased its stake in General Dynamics Co. (NYSE: GD – Get a rating) by 2.9% in the 1st quarter, HoldingsChannel.com reports. The company held 7,780 shares of the aerospace company after purchasing an additional 220 shares during the quarter. Capital Investment Advisors LLC’s holdings in General Dynamics were worth $1,876,000 at the end of last quarter.
A number of other institutional investors also increased or reduced their holdings in the stock. Costello Asset Management INC acquired a new stake in General Dynamics during the fourth quarter worth approximately $26,000. Future Financial Wealth Managment LLC acquired a new stake in General Dynamics during the fourth quarter worth approximately $29,000. Dixon Hughes Goodman Wealth Advisors LLC acquired a new stake in General Dynamics during the fourth quarter worth approximately $29,000. Wagner Wealth Management LLC increased its stake in General Dynamics by 71.6% during the fourth quarter. Wagner Wealth Management LLC now owns 139 shares of the aerospace company worth $29,000 after acquiring 58 additional shares in the last quarter. Finally, Tyler Stone Wealth Management acquired a new stake in General Dynamics during the fourth quarter worth approximately $31,000. Hedge funds and other institutional investors hold 85.84% of the company’s shares.
Shares of GD opened at $222.33 on Friday. The company has a market capitalization of $61.74 billion, a P/E ratio of 19.04, a P/E/G ratio of 1.81 and a beta of 0.95. General Dynamics Co. has a one-year minimum of $182.66 and a one-year maximum of $254.99. The company has a debt ratio of 0.58, a quick ratio of 1.09 and a current ratio of 1.48. The stock has a 50-day moving average price of $227.95 and a 200-day moving average price of $223.43.
General dynamics (NYSE: GD – Get a rating) last released its quarterly results on Wednesday, April 27. The aerospace company reported EPS of $2.61 for the quarter, beating consensus analyst estimates of $2.49 by $0.12. The company posted revenue of $9.39 billion in the quarter, versus a consensus estimate of $9.02 billion. General Dynamics had a return on equity of 19.67% and a net margin of 8.52%. General Dynamics revenue for the quarter increased 0.0% year over year. In the same quarter a year earlier, the company posted earnings per share of $2.48. As a group, equity research analysts expect General Dynamics Co. to post earnings per share of 12.16 for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, August 5. Investors of record on Friday, July 1 will receive a dividend of $1.26. This represents a dividend of $5.04 on an annualized basis and a yield of 2.27%. The ex-dividend date is Thursday, June 30. General Dynamics’ dividend payout ratio is currently 43.15%.
In related news, VP Gregory S. Gallopoulos sold 10,644 shares in a trade dated Friday, April 29. The stock was sold at an average price of $237.93, for a total value of $2,532,526.92. Following the completion of the transaction, the vice president now owns 124,605 shares of the company, valued at $29,647,267.65. The sale was disclosed in a document filed with the Securities & Exchange Commission, available at the SEC website. Company insiders own 1.50% of the company’s shares.
Several equity research analysts have commented on the company. Morgan Stanley raised its price target on General Dynamics from $215.00 to $243.00 and gave the stock an “equal weight” rating in a Wednesday, March 2 research note. Susquehanna Bancshares raised its target price on General Dynamics from $280.00 to $285.00 in a Thursday, April 28 research note. Susquehanna raised its target price on General Dynamics from $280.00 to $285.00 in a Thursday, April 28 research note. Wells Fargo & Company raised its target price on General Dynamics from $235.00 to $282.00 and gave the company an “overweight” rating in a Monday, March 7 research note. To finish, StockNews.com launched coverage on General Dynamics in a research note on Thursday, March 31. They issued a “buy” rating for the company. Four research analysts gave the stock a hold rating and six gave the company a buy rating. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $243.00.
General Dynamics Company Profile (Get a rating)
General Dynamics Corporation operates as an aerospace and defense company worldwide. It operates through four segments: Aerospace, Marine Systems, Combat Systems and Technologies. The Aerospace segment designs, manufactures and sells business jets; and offers aircraft maintenance and repair, management, charter, aircraft ground support and completion, staffing and fixed-base operator services.
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