Abner Herrman & Brock LLC Increases Stake in General Dynamics Co. (GD)

Abner Herrman & Brock LLC grew its position in shares of General Dynamics Co. (NYSE:GD) by 4.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 19,826 shares of the aerospace company’s stock after buying an additional 906 shares during the quarter. Abner Herrman & Brock LLC’s holdings in General Dynamics were worth $4,034,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of General Dynamics by 1.9% in the 2nd quarter. Vanguard Group Inc. now owns 20,176,505 shares of the aerospace company’s stock valued at $3,996,966,000 after acquiring an additional 376,688 shares in the last quarter. Capital Research Global Investors raised its stake in shares of General Dynamics by 4.5% in the 2nd quarter. Capital Research Global Investors now owns 16,792,408 shares of the aerospace company’s stock valued at $3,326,576,000 after acquiring an additional 725,896 shares in the last quarter. BlackRock Inc. raised its stake in shares of General Dynamics by 5.3% in the 2nd quarter. BlackRock Inc. now owns 16,338,831 shares of the aerospace company’s stock valued at $3,236,720,000 after acquiring an additional 829,487 shares in the last quarter. Janus Henderson Group PLC raised its stake in shares of General Dynamics by 6.1% in the 3rd quarter. Janus Henderson Group PLC now owns 5,302,868 shares of the aerospace company’s stock valued at $1,090,164,000 after acquiring an additional 304,175 shares in the last quarter. Finally, Franklin Resources Inc. raised its stake in shares of General Dynamics by 1.9% in the 2nd quarter. Franklin Resources Inc. now owns 3,786,244 shares of the aerospace company’s stock valued at $750,055,000 after acquiring an additional 71,287 shares in the last quarter. Institutional investors and hedge funds own 86.76% of the company’s stock.

Shares of General Dynamics Co. (GD) traded down $1.04 during midday trading on Friday, reaching $204.17. The company’s stock had a trading volume of 390,718 shares, compared to its average volume of 1,200,000. The company has a current ratio of 1.37, a quick ratio of 0.93 and a debt-to-equity ratio of 0.34. The company has a market cap of $60,940.00, a P/E ratio of 20.28, a P/E/G ratio of 2.25 and a beta of 0.72. General Dynamics Co. has a 52 week low of $172.43 and a 52 week high of $214.81.

General Dynamics (NYSE:GD) last released its quarterly earnings data on Wednesday, October 25th. The aerospace company reported $2.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.43 by $0.09. The business had revenue of $7.58 billion for the quarter, compared to analysts’ expectations of $7.94 billion. General Dynamics had a return on equity of 27.98% and a net margin of 9.94%. General Dynamics’s quarterly revenue was down 1.0% on a year-over-year basis. During the same period in the previous year, the business posted $2.36 earnings per share. sell-side analysts expect that General Dynamics Co. will post 9.8 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 9th. Stockholders of record on Friday, January 19th will be given a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a dividend yield of 1.65%. The ex-dividend date is Thursday, January 18th. General Dynamics’s dividend payout ratio is presently 33.37%.

A number of research analysts recently weighed in on GD shares. Royal Bank of Canada set a $239.00 price objective on General Dynamics and gave the company a “buy” rating in a research note on Wednesday, November 15th. Cowen reaffirmed a “buy” rating and issued a $230.00 price target on shares of General Dynamics in a research report on Thursday, October 19th. Deutsche Bank reaffirmed a “hold” rating and issued a $210.00 price target (up from $200.00) on shares of General Dynamics in a research report on Monday, October 2nd. ValuEngine downgraded General Dynamics from a “buy” rating to a “hold” rating in a research report on Thursday, November 30th. Finally, Stifel Nicolaus lifted their price target on General Dynamics from $200.00 to $210.00 and gave the stock a “hold” rating in a research report on Thursday, October 26th. Four investment analysts have rated the stock with a sell rating, four have assigned a hold rating and nine have given a buy rating to the company’s stock. General Dynamics has a consensus rating of “Hold” and an average price target of $218.24.

In other news, VP Gregory S. Gallopoulos sold 78,370 shares of the business’s stock in a transaction that occurred on Monday, November 6th. The stock was sold at an average price of $202.93, for a total transaction of $15,903,624.10. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider John Patrick Casey sold 34,945 shares of the business’s stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $201.38, for a total value of $7,037,224.10. Following the sale, the insider now owns 144,378 shares in the company, valued at $29,074,841.64. The disclosure for this sale can be found here. Insiders own 6.70% of the company’s stock.

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General Dynamics Profile

General Dynamics Corporation is a global aerospace and defense company. The Company offers a portfolio of products and services in business aviation; combat vehicles, weapons systems and munitions; information technology (IT) services and C4ISR (command, control, communications, computers, intelligence, surveillance and reconnaissance) solutions, and shipbuilding and ship repair.

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Institutional Ownership by Quarter for General Dynamics (NYSE:GD)

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