Belpointe Asset Management LLC raised its holdings in General Dynamics Co. (NYSE:GD) by 13.2% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,225 shares of the aerospace company’s stock after acquiring an additional 143 shares during the period. Belpointe Asset Management LLC’s holdings in General Dynamics were worth $207,000 at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in the business. Harvest Group Wealth Management LLC purchased a new position in shares of General Dynamics in the first quarter worth $28,000. Aspire Private Capital LLC bought a new stake in shares of General Dynamics in the fourth quarter worth $29,000. TCG Advisors LP bought a new stake in shares of General Dynamics in the first quarter worth $38,000. Zions Bancorporation N.A. bought a new stake in shares of General Dynamics in the first quarter worth $40,000. Finally, CX Institutional bought a new stake in shares of General Dynamics in the first quarter worth $45,000. 86.45% of the stock is currently owned by hedge funds and other institutional investors.
In other General Dynamics news, EVP John Patrick Casey sold 45,470 shares of the stock in a transaction on Monday, April 15th. The stock was sold at an average price of $172.46, for a total transaction of $7,841,756.20. Following the sale, the executive vice president now owns 148,133 shares of the company’s stock, valued at approximately $25,547,017.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 7.10% of the stock is currently owned by company insiders.
General Dynamics (NYSE:GD) last announced its quarterly earnings data on Wednesday, April 24th. The aerospace company reported $2.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.38 by $0.18. The company had revenue of $9.26 billion for the quarter, compared to analysts’ expectations of $8.90 billion. General Dynamics had a return on equity of 27.62% and a net margin of 8.68%. General Dynamics’s revenue was up 22.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.65 earnings per share. As a group, equities research analysts forecast that General Dynamics Co. will post 11.76 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, August 9th. Shareholders of record on Friday, July 5th will be given a dividend of $1.02 per share. The ex-dividend date of this dividend is Wednesday, July 3rd. This represents a $4.08 annualized dividend and a yield of 2.22%. General Dynamics’s dividend payout ratio (DPR) is presently 35.73%.
GD has been the subject of several research analyst reports. Robert W. Baird lifted their price objective on Northrop Grumman from $300.00 to $364.00 and gave the stock an “outperform” rating in a report on Wednesday. Goldman Sachs Group raised General Dynamics from a “neutral” rating to a “buy” rating and set a $204.00 price target for the company in a report on Sunday, May 19th. Zacks Investment Research raised Global Ship Lease from a “hold” rating to a “strong-buy” rating and set a $7.75 price target for the company in a report on Monday, June 3rd. Morgan Stanley set a $18.00 price target on PG&E and gave the company a “hold” rating in a report on Friday, June 14th. Finally, UBS Group reissued a “buy” rating and set a $124.00 price target on shares of Cie Gnrl des Etblsmnts Michelin SCA in a report on Thursday, April 25th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and eight have issued a buy rating to the stock. General Dynamics has an average rating of “Hold” and a consensus target price of $196.00.
General Dynamics Company Profile
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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