Rosenbaum Jay D. increased its stake in General Dynamics Co. (NYSE:GD) by 2.7% during the second quarter, Holdings Channel reports. The firm owned 3,654 shares of the aerospace company’s stock after acquiring an additional 95 shares during the period. Rosenbaum Jay D.’s holdings in General Dynamics were worth $664,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Harvest Group Wealth Management LLC bought a new position in General Dynamics in the first quarter valued at about $28,000. TCG Advisors LP bought a new position in General Dynamics in the first quarter valued at about $38,000. Zions Bancorporation N.A. bought a new position in General Dynamics in the first quarter valued at about $40,000. Princeton Global Asset Management LLC bought a new position in General Dynamics in the first quarter valued at about $42,000. Finally, Horan Capital Advisors LLC. bought a new position in General Dynamics in the first quarter valued at about $47,000. Institutional investors own 86.84% of the company’s stock.
Shares of General Dynamics stock traded up $1.63 during midday trading on Thursday, reaching $182.46. The company had a trading volume of 27,251 shares, compared to its average volume of 1,100,424. The stock’s fifty day moving average is $183.62. The company has a current ratio of 1.09, a quick ratio of 0.73 and a debt-to-equity ratio of 0.70. The stock has a market capitalization of $52.37 billion, a price-to-earnings ratio of 15.99, a PEG ratio of 1.76 and a beta of 1.21. General Dynamics Co. has a fifty-two week low of $143.87 and a fifty-two week high of $207.72.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, October 11th will be paid a $1.02 dividend. This represents a $4.08 dividend on an annualized basis and a dividend yield of 2.24%. The ex-dividend date is Thursday, October 10th. General Dynamics’s dividend payout ratio is currently 35.73%.
Several analysts have recently weighed in on GD shares. Goldman Sachs Group upgraded General Dynamics from a “neutral” rating to a “buy” rating and set a $204.00 price target on the stock in a report on Sunday, May 19th. UBS Group boosted their price target on General Dynamics from $175.00 to $190.00 and gave the stock a “neutral” rating in a report on Thursday, April 25th. Morgan Stanley boosted their price target on General Dynamics from $171.00 to $173.00 and gave the stock an “underweight” rating in a report on Wednesday. JPMorgan Chase & Co. upgraded General Dynamics from an “underweight” rating to a “neutral” rating and boosted their price target for the stock from $188.00 to $200.00 in a report on Thursday, April 25th. They noted that the move was a valuation call. Finally, Zacks Investment Research upgraded General Dynamics from a “hold” rating to a “buy” rating and set a $171.00 price target on the stock in a report on Monday, June 3rd. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $191.47.
In related news, VP Gary L. Whited sold 14,029 shares of General Dynamics stock in a transaction that occurred on Tuesday, July 30th. The stock was sold at an average price of $188.38, for a total value of $2,642,783.02. Following the transaction, the vice president now directly owns 37,542 shares of the company’s stock, valued at $7,072,161.96. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Mark Lagrand Burns acquired 159 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The stock was bought at an average cost of $179.56 per share, for a total transaction of $28,550.04. Following the completion of the purchase, the vice president now owns 39,643 shares of the company’s stock, valued at $7,118,297.08. The disclosure for this purchase can be found here. 7.10% of the stock is owned by insiders.
About General Dynamics
General Dynamics Corporation operates as an aerospace and defense company worldwide. It operates in five segments: Aerospace, Combat Systems, Information Technology, Mission Systems, and Marine Systems. The Aerospace segment designs, manufactures, and supports business-jet aircraft; and offers business-aviation services, including maintenance, fixed-base operation, government fleet, aircraft management, charter, and staffing services, as well as integrated aviation solutions.
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