General Dynamics Corporation $GD Shares Purchased by Gotham Asset Management LLC
by Sarita Garza · The Markets DailyGotham Asset Management LLC boosted its position in General Dynamics Corporation (NYSE:GD – Free Report) by 8.3% during the 4th quarter, Holdings Channel reports. The fund owned 146,322 shares of the aerospace company’s stock after acquiring an additional 11,273 shares during the quarter. Gotham Asset Management LLC’s holdings in General Dynamics were worth $49,261,000 as of its most recent SEC filing.
Several other hedge funds have also recently added to or reduced their stakes in the company. Evolve Private Wealth LLC acquired a new stake in General Dynamics in the fourth quarter valued at approximately $1,928,000. Engineers Gate Manager LP acquired a new stake in shares of General Dynamics during the 4th quarter worth about $3,372,000. First Manhattan CO. LLC. raised its position in shares of General Dynamics by 3.3% during the 4th quarter. First Manhattan CO. LLC. now owns 1,928 shares of the aerospace company’s stock worth $649,000 after acquiring an additional 62 shares in the last quarter. Cinctive Capital Management LP acquired a new stake in shares of General Dynamics during the 4th quarter worth about $3,927,000. Finally, Claro Advisors Inc. raised its position in shares of General Dynamics by 29.4% during the 4th quarter. Claro Advisors Inc. now owns 2,053 shares of the aerospace company’s stock worth $691,000 after acquiring an additional 467 shares in the last quarter. Institutional investors and hedge funds own 86.14% of the company’s stock.
Analysts Set New Price Targets
Several brokerages have recently weighed in on GD. Wall Street Zen raised General Dynamics from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 13th. The Goldman Sachs Group cut their target price on General Dynamics from $327.00 to $313.00 and set a “sell” rating on the stock in a research report on Monday, May 4th. JPMorgan Chase & Co. raised their target price on General Dynamics from $385.00 to $400.00 and gave the stock an “overweight” rating in a research report on Thursday, April 30th. BNP Paribas Exane cut their target price on General Dynamics from $430.00 to $390.00 and set an “outperform” rating on the stock in a research report on Thursday, April 30th. Finally, Argus raised their target price on General Dynamics from $380.00 to $395.00 and gave the stock a “buy” rating in a research report on Thursday, February 19th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $388.40.
Get Our Latest Stock Report on General Dynamics
Insider Buying and Selling
In other General Dynamics news, EVP Mark Lagrand Burns sold 36,480 shares of General Dynamics stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $345.29, for a total transaction of $12,596,179.20. Following the transaction, the executive vice president owned 38,975 shares of the company’s stock, valued at $13,457,677.75. The trade was a 48.35% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 1.40% of the stock is currently owned by company insiders.
General Dynamics Trading Down 0.4%
GD opened at $362.79 on Thursday. The firm has a market cap of $98.11 billion, a price-to-earnings ratio of 22.83, a price-to-earnings-growth ratio of 2.26 and a beta of 0.34. General Dynamics Corporation has a 52 week low of $275.49 and a 52 week high of $369.70. The business’s 50 day moving average is $341.05 and its two-hundred day moving average is $347.11. The company has a quick ratio of 0.90, a current ratio of 1.38 and a debt-to-equity ratio of 0.24.
General Dynamics (NYSE:GD – Get Free Report) last released its quarterly earnings results on Wednesday, April 29th. The aerospace company reported $4.10 EPS for the quarter, topping the consensus estimate of $3.67 by $0.43. The company had revenue of $13.48 billion for the quarter, compared to analyst estimates of $12.70 billion. General Dynamics had a return on equity of 17.41% and a net margin of 8.07%.The firm’s revenue was up 10.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.66 earnings per share. On average, research analysts predict that General Dynamics Corporation will post 16.62 EPS for the current year.
General Dynamics Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Friday, August 7th. Shareholders of record on Thursday, July 2nd will be given a dividend of $1.59 per share. The ex-dividend date of this dividend is Thursday, July 2nd. This represents a $6.36 annualized dividend and a yield of 1.8%. General Dynamics’s payout ratio is 40.03%.
About General Dynamics
General Dynamics is a major American aerospace and defense contractor that designs, manufactures and supports a broad range of products and services for government and commercial customers worldwide. Headquartered in the United States (Reston, Virginia), the company supplies platforms and systems used by armed forces, civil authorities and private operators across multiple domains including air, land, sea and cyber.
Its principal activities span several operating businesses: a business aviation unit that develops and supports Gulfstream business jets; land systems that produce armored combat vehicles and related logistics and sustainment services; marine systems that design and construct submarines and surface ships for navies; and mission systems and information technology operations that provide command-and-control, communications, cybersecurity and systems-integration services.
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