Royce & Associates LP reduced its holdings in General Dynamics Co. (NYSE:GD – Get Rating) by 23.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 16,000 shares of the aerospace company’s stock after selling 5,000 shares during the period. Royce & Associates LP’s holdings in General Dynamics were worth $3,859,000 as of its most recent SEC filing.
Several other large investors have also bought and sold shares of the business. Geode Capital Management LLC lifted its holdings in General Dynamics by 1.8% in the fourth quarter. Geode Capital Management LLC now owns 3,642,456 shares of the aerospace company’s stock valued at $757,162,000 after buying an additional 64,638 shares during the period. Boston Partners increased its stake in General Dynamics by 2.9% in the fourth quarter. Boston Partners now owns 2,998,035 shares of the aerospace company’s stock valued at $625,169,000 after purchasing an additional 85,186 shares in the last quarter. Northern Trust Corp increased its stake in General Dynamics by 4.0% in the fourth quarter. Northern Trust Corp now owns 2,383,086 shares of the aerospace company’s stock valued at $496,801,000 after purchasing an additional 92,334 shares in the last quarter. Norges Bank bought a new stake in General Dynamics in the fourth quarter valued at approximately $484,878,000. Finally, First Trust Advisors LP increased its stake in General Dynamics by 1.3% in the fourth quarter. First Trust Advisors LP now owns 1,499,045 shares of the aerospace company’s stock valued at $312,506,000 after purchasing an additional 19,044 shares in the last quarter. 85.84% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several equities research analysts have commented on the stock. Cowen set a $260.00 target price on shares of General Dynamics in a research note on Tuesday, July 19th. Seaport Res Ptn reaffirmed a “buy” rating on shares of General Dynamics in a research note on Wednesday, July 27th. Susquehanna Bancshares upped their target price on shares of General Dynamics from $280.00 to $285.00 in a research note on Thursday, April 28th. Finally, Susquehanna increased their price objective on shares of General Dynamics from $280.00 to $285.00 in a research report on Thursday, April 28th. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $253.71.
General Dynamics Stock Down 0.7 %
General Dynamics (NYSE:GD – Get Rating) last issued its quarterly earnings data on Wednesday, July 27th. The aerospace company reported $2.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.72 by $0.03. The company had revenue of $9.19 billion during the quarter, compared to the consensus estimate of $9.42 billion. General Dynamics had a net margin of 8.61% and a return on equity of 19.25%. The firm’s revenue was down .3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.61 earnings per share. As a group, equities research analysts predict that General Dynamics Co. will post 12.15 earnings per share for the current fiscal year.
General Dynamics Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 10th. Investors of record on Friday, October 7th will be given a $1.26 dividend. This represents a $5.04 dividend on an annualized basis and a yield of 2.20%. The ex-dividend date is Thursday, October 6th. General Dynamics’s dividend payout ratio (DPR) is currently 42.64%.
About General Dynamics
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-on-ground support and completion, staffing, and fixed-base operator services.
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