Oak Point Wealth Management acquired a new stake in shares of General Dynamics Co. (NYSE:GD) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 4,279 shares of the aerospace company’s stock, valued at approximately $865,000.
Several other institutional investors and hedge funds also recently bought and sold shares of GD. Quadrant Capital Group LLC boosted its position in General Dynamics by 6.1% in the second quarter. Quadrant Capital Group LLC now owns 645 shares of the aerospace company’s stock valued at $110,000 after buying an additional 37 shares during the last quarter. Vantage Investment Advisors LLC boosted its position in General Dynamics by 9.3% in the second quarter. Vantage Investment Advisors LLC now owns 585 shares of the aerospace company’s stock valued at $116,000 after buying an additional 50 shares during the last quarter. Captrust Financial Advisors purchased a new stake in General Dynamics in the second quarter valued at approximately $129,000. WFG Advisors LP boosted its position in General Dynamics by 0.3% in the second quarter. WFG Advisors LP now owns 668 shares of the aerospace company’s stock valued at $132,000 after buying an additional 2 shares during the last quarter. Finally, Fieldpoint Private Securities LLC purchased a new stake in General Dynamics in the third quarter valued at approximately $148,000. Hedge funds and other institutional investors own 86.76% of the company’s stock.
In related news, VP Gregory S. Gallopoulos sold 78,370 shares of the stock in a transaction on Monday, November 6th. The stock was sold at an average price of $202.93, for a total value of $15,903,624.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider John Patrick Casey sold 34,945 shares of the stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $201.38, for a total value of $7,037,224.10. Following the completion of the transaction, the insider now directly owns 144,378 shares of the company’s stock, valued at $29,074,841.64. The disclosure for this sale can be found here. Company insiders own 6.70% of the company’s stock.
General Dynamics (NYSE:GD) last announced its earnings results on Wednesday, October 25th. The aerospace company reported $2.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.43 by $0.09. General Dynamics had a return on equity of 27.98% and a net margin of 9.94%. The firm had revenue of $7.58 billion for the quarter, compared to analyst estimates of $7.94 billion. During the same quarter last year, the firm posted $2.36 EPS. The business’s revenue was down 1.0% on a year-over-year basis. analysts forecast that General Dynamics Co. will post 9.8 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, February 9th. Stockholders of record on Friday, January 19th will be given a dividend of $0.84 per share. The ex-dividend date of this dividend is Thursday, January 18th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 1.63%. General Dynamics’s dividend payout ratio (DPR) is 33.37%.
Several research firms have commented on GD. Zacks Investment Research lowered General Dynamics from a “buy” rating to a “hold” rating in a research report on Monday, October 16th. Citigroup restated a “neutral” rating and issued a $215.00 price objective (up previously from $210.00) on shares of General Dynamics in a research report on Monday, October 9th. ValuEngine lowered General Dynamics from a “buy” rating to a “hold” rating in a research report on Tuesday, October 3rd. Cowen restated a “buy” rating and issued a $230.00 price objective on shares of General Dynamics in a research report on Thursday, October 19th. Finally, Jefferies Group restated a “buy” rating and issued a $236.00 price objective on shares of General Dynamics in a research report on Thursday, October 26th. Four investment analysts have rated the stock with a sell rating, four have issued a hold rating and nine have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $218.92.
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General Dynamics Company 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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