Robeco Institutional Asset Management B.V. boosted its stake in General Dynamics Co. (NYSE:GD – Get Rating) by 8.0% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 113,484 shares of the aerospace company’s stock after purchasing an additional 8,374 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in General Dynamics were worth $24,078,000 at the end of the most recent quarter.
Other large investors have also added to or reduced their stakes in the company. Greenleaf Trust boosted its holdings in shares of General Dynamics by 4.1% during the 3rd quarter. Greenleaf Trust now owns 4,913 shares of the aerospace company’s stock valued at $1,042,000 after buying an additional 193 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of General Dynamics by 31.5% during the 2nd quarter. Goldman Sachs Group Inc. now owns 1,411,406 shares of the aerospace company’s stock valued at $312,273,000 after buying an additional 337,999 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of General Dynamics by 11.3% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 55,896 shares of the aerospace company’s stock valued at $11,859,000 after buying an additional 5,675 shares in the last quarter. Royal London Asset Management Ltd. boosted its holdings in shares of General Dynamics by 8.1% during the 2nd quarter. Royal London Asset Management Ltd. now owns 103,739 shares of the aerospace company’s stock valued at $22,959,000 after buying an additional 7,795 shares in the last quarter. Finally, AMG National Trust Bank boosted its holdings in shares of General Dynamics by 81.3% during the 3rd quarter. AMG National Trust Bank now owns 4,370 shares of the aerospace company’s stock valued at $927,000 after buying an additional 1,960 shares in the last quarter. Institutional investors own 84.83% of the company’s stock.
Analyst Upgrades and Downgrades
A number of brokerages have recently commented on GD. Morgan Stanley boosted their target price on shares of General Dynamics from $243.00 to $248.00 in a report on Thursday, January 26th. Credit Suisse Group lowered their price target on General Dynamics from $240.00 to $222.00 and set a “neutral” rating for the company in a research report on Thursday, January 26th. Robert W. Baird lowered their price target on General Dynamics from $290.00 to $268.00 in a research report on Thursday, January 26th. Cowen lifted their price target on General Dynamics from $260.00 to $285.00 in a research report on Tuesday, January 3rd. Finally, StockNews.com lowered General Dynamics from a “strong-buy” rating to a “buy” rating in a research report on Monday. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, General Dynamics currently has an average rating of “Moderate Buy” and a consensus price target of $267.15.
General Dynamics Price Performance
General Dynamics (NYSE:GD – Get Rating) last released its quarterly earnings results on Wednesday, January 25th. The aerospace company reported $3.58 EPS for the quarter, beating the consensus estimate of $3.53 by $0.05. General Dynamics had a net margin of 8.60% and a return on equity of 18.93%. The firm had revenue of $10.85 billion during the quarter, compared to analyst estimates of $10.66 billion. During the same quarter in the prior year, the firm earned $3.39 EPS. The business’s revenue for the quarter was up 5.4% compared to the same quarter last year. On average, analysts expect that General Dynamics Co. will post 12.74 earnings per share for the current year.
General Dynamics Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, May 12th. Stockholders of record on Friday, April 14th will be given a dividend of $1.32 per share. The ex-dividend date of this dividend is Thursday, April 13th. This represents a $5.28 annualized dividend and a dividend yield of 2.40%. This is a positive change from General Dynamics’s previous quarterly dividend of $1.26. General Dynamics’s dividend payout ratio is presently 41.31%.
In other news, VP Mark Lagrand Burns sold 27,600 shares of the company’s stock in a transaction dated Friday, January 27th. The shares were sold at an average price of $226.93, for a total transaction of $6,263,268.00. Following the completion of the sale, the vice president now owns 56,909 shares of the company’s stock, valued at approximately $12,914,359.37. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.50% of the company’s stock.
About General Dynamics
General Dynamics Corp. is a global aerospace and defense company, which engages in design, engineering, and manufacturing to deliver state-of-the-art solutions. It operates through the following business segments: Aerospace, Marine Systems, Combat Systems, and Technologies. The Aerospace segment designs, manufactures, and sells business jets.
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