Atria Investments LLC boosted its holdings in shares of General Dynamics Co. (NYSE:GD) by 24.7% in the second quarter, HoldingsChannel reports. The firm owned 24,322 shares of the aerospace company’s stock after buying an additional 4,811 shares during the period. Atria Investments LLC’s holdings in General Dynamics were worth $4,579,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also bought and sold shares of GD. First PREMIER Bank purchased a new stake in shares of General Dynamics during the second quarter worth about $28,000. Bradley & Co. Private Wealth Management LLC purchased a new stake in General Dynamics during the 1st quarter valued at about $32,000. Solstein Capital LLC purchased a new stake in General Dynamics during the 1st quarter valued at about $32,000. Twin Lakes Capital Management LLC purchased a new stake in shares of General Dynamics in the 1st quarter valued at approximately $36,000. Finally, KB Financial Partners LLC purchased a new stake in shares of General Dynamics in the 1st quarter valued at approximately $38,000. Institutional investors own 85.22% of the company’s stock.
Shares of NYSE:GD opened at $196.66 on Wednesday. General Dynamics Co. has a 52 week low of $129.17 and a 52 week high of $206.46. The company’s 50 day moving average is $196.33 and its two-hundred day moving average is $189.04. The company has a current ratio of 1.44, a quick ratio of 1.05 and a debt-to-equity ratio of 0.75. The company has a market cap of $54.97 billion, a PE ratio of 17.13, a P/E/G ratio of 2.04 and a beta of 1.14.
The business also recently announced a quarterly dividend, which will be paid on Friday, November 12th. Investors of record on Friday, October 8th will be given a $1.19 dividend. This represents a $4.76 dividend on an annualized basis and a dividend yield of 2.42%. The ex-dividend date of this dividend is Thursday, October 7th. General Dynamics’s dividend payout ratio (DPR) is 43.27%.
General Dynamics declared that its board has approved a share buyback plan on Wednesday, June 2nd that authorizes the company to repurchase 10,000,000 outstanding shares. This repurchase authorization authorizes the aerospace company to purchase shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its stock is undervalued.
Several analysts have recently weighed in on the stock. Cowen reissued a “buy” rating on shares of General Dynamics in a research note on Monday, August 9th. Wells Fargo & Company increased their price target on shares of General Dynamics from $216.00 to $220.00 and gave the company an “overweight” rating in a research note on Friday, July 30th. Zacks Investment Research upgraded shares of General Dynamics from a “hold” rating to a “buy” rating and set a $208.00 price objective on the stock in a report on Thursday, August 5th. Finally, Credit Suisse Group upped their price objective on shares of General Dynamics from $182.00 to $198.00 and gave the stock a “neutral” rating in a report on Thursday, July 29th. Three research analysts have rated the stock with a sell rating, one has assigned a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $201.67.
General Dynamics Profile
General Dynamics Corp. is an aerospace and defense company, which engages in the provision of tanks, rockets, missiles, submarines, warships, fighters and electronics to all of the military services. It operates through the following segments: Aerospace, Combat Systems, Information Technology, and Marine Systems.
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