Shell Asset Management Co. trimmed its holdings in General Dynamics Co. (NYSE:GD) by 29.3% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 30,877 shares of the aerospace company’s stock after selling 12,787 shares during the period. Shell Asset Management Co.’s holdings in General Dynamics were worth $6,282,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors have also modified their holdings of GD. Resources Investment Advisors Inc. boosted its stake in shares of General Dynamics by 92.3% in the fourth quarter. Resources Investment Advisors Inc. now owns 625 shares of the aerospace company’s stock valued at $127,000 after purchasing an additional 300 shares during the period. NuWave Investment Management LLC acquired a new stake in General Dynamics in the fourth quarter valued at approximately $130,000. Fieldpoint Private Securities LLC acquired a new stake in General Dynamics in the third quarter valued at approximately $148,000. Independence Bank of Kentucky acquired a new stake in General Dynamics during the fourth quarter worth approximately $157,000. Finally, Sit Investment Associates Inc. raised its holdings in General Dynamics by 170.0% during the fourth quarter. Sit Investment Associates Inc. now owns 953 shares of the aerospace company’s stock worth $194,000 after purchasing an additional 600 shares in the last quarter. Institutional investors and hedge funds own 93.41% of the company’s stock.
General Dynamics Co. (GD) opened at $223.35 on Wednesday. The company has a market capitalization of $66,703.16, a price-to-earnings ratio of 22.58, a PEG ratio of 2.38 and a beta of 0.83. The company has a current ratio of 1.40, a quick ratio of 0.99 and a debt-to-equity ratio of 0.35. General Dynamics Co. has a fifty-two week low of $183.72 and a fifty-two week high of $230.00.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 11th. Investors of record on Friday, April 13th will be paid a $0.93 dividend. This is an increase from General Dynamics’s previous quarterly dividend of $0.84. This represents a $3.72 annualized dividend and a yield of 1.67%. The ex-dividend date is Thursday, April 12th. General Dynamics’s dividend payout ratio is currently 35.18%.
In other news, Director John M. Keane sold 1,800 shares of General Dynamics stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $216.43, for a total transaction of $389,574.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider John Patrick Casey sold 9,304 shares of General Dynamics stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $215.29, for a total value of $2,003,058.16. The disclosure for this sale can be found here. Over the last three months, insiders sold 30,357 shares of company stock valued at $6,715,463. Company insiders own 6.70% of the company’s stock.
A number of brokerages have recently commented on GD. Royal Bank of Canada lifted their target price on shares of General Dynamics to $258.00 and gave the company an “outperform” rating in a report on Thursday, January 25th. Bank of America lifted their price objective on shares of General Dynamics from $245.00 to $260.00 and gave the company a “buy” rating in a research report on Thursday, January 25th. Argus upgraded shares of General Dynamics to a “buy” rating and boosted their target price for the stock from $230.00 to $250.00 in a research report on Tuesday, January 30th. Zacks Investment Research upgraded shares of General Dynamics from a “hold” rating to a “buy” rating and set a $252.00 target price on the stock in a research report on Friday, February 2nd. Finally, Jefferies Group boosted their price objective on shares of General Dynamics to $247.00 and gave the stock a “buy” rating in a research report on Thursday, January 25th. They noted that the move was a valuation call. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and thirteen have assigned a buy rating to the company’s stock. General Dynamics presently has a consensus rating of “Hold” and an average price target of $235.88.
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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