Van ECK Associates Corp Increases Position in General Dynamics Co. (NYSE:GD)

Van ECK Associates Corp raised its holdings in shares of General Dynamics Co. (NYSE:GDFree Report) by 2.3% during the 3rd quarter, HoldingsChannel reports. The fund owned 31,928 shares of the aerospace company’s stock after acquiring an additional 703 shares during the quarter. Van ECK Associates Corp’s holdings in General Dynamics were worth $7,055,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also modified their holdings of the company. Certified Advisory Corp purchased a new position in shares of General Dynamics during the 1st quarter valued at $25,000. Live Oak Investment Partners purchased a new position in shares of General Dynamics during the 4th quarter valued at $30,000. Briaud Financial Planning Inc purchased a new position in shares of General Dynamics during the 3rd quarter valued at $27,000. Impact Partnership Wealth LLC lifted its stake in shares of General Dynamics by 411.5% during the 3rd quarter. Impact Partnership Wealth LLC now owns 133 shares of the aerospace company’s stock valued at $29,000 after buying an additional 107 shares in the last quarter. Finally, NewSquare Capital LLC lifted its stake in shares of General Dynamics by 153.7% during the 2nd quarter. NewSquare Capital LLC now owns 137 shares of the aerospace company’s stock valued at $29,000 after buying an additional 83 shares in the last quarter. Hedge funds and other institutional investors own 86.08% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Bank Of America (Bofa) lifted their target price on shares of General Dynamics from $295.00 to $305.00 and gave the company a “buy” rating in a research note on Tuesday, October 24th. UBS Group lifted their target price on shares of General Dynamics from $286.00 to $296.00 and gave the company a “neutral” rating in a research note on Monday, January 29th. Citigroup lifted their price target on shares of General Dynamics from $283.00 to $300.00 and gave the company a “buy” rating in a report on Thursday, January 25th. Alembic Global Advisors downgraded shares of General Dynamics from an “overweight” rating to a “neutral” rating and set a $296.00 price target on the stock. in a report on Monday, January 29th. Finally, Wells Fargo & Company lifted their price target on shares of General Dynamics from $243.00 to $264.00 and gave the company an “overweight” rating in a report on Thursday, October 26th. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $271.69.

Read Our Latest Analysis on GD

General Dynamics Stock Performance

General Dynamics stock opened at $270.14 on Friday. The company’s 50-day moving average price is $256.76 and its 200-day moving average price is $240.19. General Dynamics Co. has a twelve month low of $202.35 and a twelve month high of $271.36. The company has a quick ratio of 0.92, a current ratio of 1.44 and a debt-to-equity ratio of 0.41. The company has a market cap of $73.72 billion, a PE ratio of 22.47, a price-to-earnings-growth ratio of 1.72 and a beta of 0.68.

General Dynamics (NYSE:GDGet Free Report) last posted its earnings results on Wednesday, January 24th. The aerospace company reported $3.64 earnings per share for the quarter, missing analysts’ consensus estimates of $3.68 by ($0.04). General Dynamics had a return on equity of 16.61% and a net margin of 7.84%. The business had revenue of $11.67 billion during the quarter, compared to the consensus estimate of $11.39 billion. During the same quarter last year, the firm earned $3.58 earnings per share. The business’s quarterly revenue was up 7.5% on a year-over-year basis. On average, equities research analysts forecast that General Dynamics Co. will post 14.58 EPS for the current fiscal year.

General Dynamics Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 9th. Stockholders of record on Friday, January 19th were issued a $1.32 dividend. The ex-dividend date of this dividend was Thursday, January 18th. This represents a $5.28 dividend on an annualized basis and a dividend yield of 1.95%. General Dynamics’s dividend payout ratio (DPR) is presently 43.93%.

Insider Transactions at General Dynamics

In related news, CEO Phebe N. Novakovic sold 32,355 shares of General Dynamics stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $264.31, for a total transaction of $8,551,750.05. Following the completion of the transaction, the chief executive officer now directly owns 773,977 shares of the company’s stock, valued at approximately $204,569,860.87. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, EVP Mark C. Roualet sold 73,330 shares of General Dynamics stock in a transaction dated Friday, January 26th. The shares were sold at an average price of $264.75, for a total transaction of $19,414,117.50. Following the completion of the transaction, the executive vice president now directly owns 149,205 shares of the company’s stock, valued at approximately $39,502,023.75. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Phebe N. Novakovic sold 32,355 shares of General Dynamics stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $264.31, for a total transaction of $8,551,750.05. Following the transaction, the chief executive officer now directly owns 773,977 shares of the company’s stock, valued at $204,569,860.87. The disclosure for this sale can be found here. Insiders own 1.52% of the company’s stock.

General Dynamics Company Profile

(Free Report)

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 produces and sells business jets; and offers aircraft maintenance and repair, management, aircraft-on-ground support and completion, charter, staffing, and fixed-base operator services.

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

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