M Holdings Securities Inc. bought a new position in shares of General Dynamics Co. (NYSE:GD – Get Rating) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 2,962 shares of the aerospace company’s stock, valued at approximately $714,000.
A number of other large investors have also bought and sold shares of GD. Norges Bank acquired a new position in General Dynamics during the 4th quarter worth approximately $484,878,000. Massachusetts Financial Services Co. MA acquired a new position in General Dynamics during the 1st quarter worth approximately $538,503,000. BlackRock Inc. boosted its position in General Dynamics by 11.1% during the 1st quarter. BlackRock Inc. now owns 15,457,200 shares of the aerospace company’s stock worth $3,727,966,000 after acquiring an additional 1,547,786 shares during the last quarter. Aaron Wealth Advisors LLC boosted its position in General Dynamics by 24,468.7% during the 1st quarter. Aaron Wealth Advisors LLC now owns 407,594 shares of the aerospace company’s stock worth $1,690,000 after acquiring an additional 405,935 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its position in General Dynamics by 44.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,073,407 shares of the aerospace company’s stock worth $258,885,000 after acquiring an additional 329,299 shares during the last quarter. 86.16% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
Several equities research analysts have recently commented on GD shares. Seaport Res Ptn reissued a “buy” rating on shares of General Dynamics in a report on Wednesday, July 27th. Cowen set a $260.00 price objective on General Dynamics in a report on Tuesday, July 19th. Finally, Royal Bank of Canada started coverage on General Dynamics in a report on Monday, August 29th. They issued an “outperform” rating and a $275.00 price objective for the company. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, General Dynamics presently has a consensus rating of “Moderate Buy” and a consensus price target of $256.38.
General Dynamics Stock Down 1.0 %
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 analysts’ consensus estimates of $2.72 by $0.03. The business had revenue of $9.19 billion for the quarter, compared to analysts’ expectations of $9.42 billion. General Dynamics had a return on equity of 19.25% and a net margin of 8.61%. The firm’s quarterly revenue was down .3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.61 EPS. Analysts expect that General Dynamics Co. will post 12.16 EPS for the current year.
General Dynamics Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Thursday, November 10th. Investors of record on Friday, October 7th will be issued a dividend of $1.26 per share. This represents a $5.04 annualized dividend and a yield of 2.21%. The ex-dividend date is Thursday, October 6th. General Dynamics’s dividend payout ratio is presently 42.64%.
Insider Activity at General Dynamics
In other news, CEO Phebe N. Novakovic sold 71,461 shares of the firm’s stock in a transaction that occurred on Tuesday, August 9th. The stock was sold at an average price of $227.05, for a total value of $16,225,220.05. Following the completion of the transaction, the chief executive officer now owns 781,152 shares in the company, valued at approximately $177,360,561.60. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 1.50% of the stock is currently owned by company insiders.
General Dynamics Profile
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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