Valeo Financial Advisors LLC lifted its stake in General Dynamics Co. (NYSE:GD) by 14.3% in the fourth quarter, HoldingsChannel.com reports. The fund owned 2,927 shares of the aerospace company’s stock after purchasing an additional 366 shares during the quarter. Valeo Financial Advisors LLC’s holdings in General Dynamics were worth $595,000 at the end of the most recent reporting period.
Other large investors also recently modified their holdings of the company. Resources Investment Advisors Inc. lifted its stake in shares of General Dynamics by 92.3% in the 4th quarter. Resources Investment Advisors Inc. now owns 625 shares of the aerospace company’s stock worth $127,000 after acquiring an additional 300 shares during the period. NuWave Investment Management LLC acquired a new stake in shares of General Dynamics in the 4th quarter worth approximately $130,000. Fieldpoint Private Securities LLC acquired a new stake in shares of General Dynamics in the 3rd quarter worth approximately $148,000. Independence Bank of Kentucky acquired a new stake in shares of General Dynamics in the 4th quarter worth approximately $157,000. Finally, Sit Investment Associates Inc. lifted its stake in shares of General Dynamics by 170.0% in the 4th quarter. Sit Investment Associates Inc. now owns 953 shares of the aerospace company’s stock worth $194,000 after acquiring an additional 600 shares during the period. 86.88% of the stock is owned by institutional investors.
In other news, Director John M. Keane sold 1,800 shares of the business’s stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $216.43, for a total transaction of $389,574.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider John Patrick Casey sold 9,304 shares of the business’s stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $215.29, for a total transaction of $2,003,058.16. The disclosure for this sale can be found here. 6.70% of the stock is owned by insiders.
General Dynamics (NYSE:GD) last released its quarterly earnings results on Wednesday, January 24th. The aerospace company reported $2.50 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.37 by $0.13. General Dynamics had a net margin of 9.40% and a return on equity of 27.22%. The business had revenue of $8.28 billion for the quarter, compared to analyst estimates of $8.40 billion. During the same quarter in the previous year, the business earned $1.89 earnings per share. The firm’s revenue was up 8.1% compared to the same quarter last year. analysts predict that General Dynamics Co. will post 11.1 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, February 9th. Stockholders of record on Friday, January 19th were issued a dividend of $0.84 per share. The ex-dividend date of this dividend was Thursday, January 18th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 1.50%. General Dynamics’s dividend payout ratio is currently 35.18%.
A number of analysts have recently weighed in on the stock. Royal Bank of Canada upped their price target on shares of General Dynamics to $267.00 and gave the stock an “outperform” rating in a research note on Tuesday. Credit Suisse Group upped their price target on shares of General Dynamics from $259.00 to $262.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 13th. Zacks Investment Research raised shares of General Dynamics from a “hold” rating to a “buy” rating and set a $252.00 price target for the company in a research note on Friday, February 2nd. Citigroup upped their price target on shares of General Dynamics from $215.00 to $235.00 and gave the stock a “neutral” rating in a research note on Thursday, January 25th. Finally, Wells Fargo & Co upped their price target on shares of General Dynamics from $225.00 to $240.00 and gave the stock an “outperform” rating in a research note on Thursday, January 25th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and thirteen have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $232.57.
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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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