Healthcare of Ontario Pension Plan Trust Fund Has $658,000 Stock Holdings in General Dynamics Co. (NYSE:GD)

Posted by on Mar 1st, 2023

Healthcare of Ontario Pension Plan Trust Fund lowered its holdings in shares of General Dynamics Co. (NYSE:GD – Get Rating) by 96.2% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,100 shares of the aerospace company’s stock after selling 78,900 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in General Dynamics were worth $658,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Certified Advisory Corp bought a new stake in shares of General Dynamics in the 1st quarter valued at about $25,000. Wagner Wealth Management LLC acquired a new position in General Dynamics during the 2nd quarter worth approximately $32,000. Coston McIsaac & Partners acquired a new position in General Dynamics during the 2nd quarter worth approximately $32,000. Annapolis Financial Services LLC purchased a new stake in shares of General Dynamics in the third quarter worth approximately $36,000. Finally, Nelson Van Denburg & Campbell Wealth Management Group LLC raised its stake in shares of General Dynamics by 104.4% in the third quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 184 shares of the aerospace company’s stock worth $39,000 after purchasing an additional 94 shares during the last quarter. Institutional investors and hedge funds own 84.83% of the company’s stock.

Insider Buying and Selling

In related news, VP Mark Lagrand Burns sold 27,600 shares of the business’s stock in a transaction that occurred on Friday, January 27th. The shares were sold at an average price of $226.93, for a total value of $6,263,268.00. Following the completion of the transaction, the vice president now directly owns 56,909 shares in the company, valued at approximately $12,914,359.37. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.50% of the stock is owned by company insiders.

General Dynamics Price Performance

GD stock opened at $227.91 on Wednesday. The firm has a 50 day moving average price of $237.62 and a 200-day moving average price of $238.04. General Dynamics Co. has a 52-week low of $207.42 and a 52-week high of $256.86. The firm has a market capitalization of $62.55 billion, a price-to-earnings ratio of 18.68, a PEG ratio of 2.12 and a beta of 0.83. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.96 and a current ratio of 1.37.

General Dynamics (NYSE:GD – Get Rating) last released its earnings results on Wednesday, January 25th. The aerospace company reported $3.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.53 by $0.05. General Dynamics had a net margin of 8.60% and a return on equity of 18.93%. The firm had revenue of $10.85 billion during the quarter, compared to analyst estimates of $10.66 billion. During the same period last year, the business earned $3.39 earnings per share. The business’s revenue was up 5.4% on a year-over-year basis. Equities research analysts forecast that General Dynamics Co. will post 12.74 EPS for the current fiscal year.

General Dynamics Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 10th. Investors of record on Friday, January 20th were issued a $1.26 dividend. The ex-dividend date was Thursday, January 19th. This represents a $5.04 dividend on an annualized basis and a yield of 2.21%. General Dynamics’s payout ratio is currently 41.31%.

Analysts Set New Price Targets

Several equities analysts have weighed in on GD shares. Robert W. Baird reduced their price objective on General Dynamics from $290.00 to $268.00 in a report on Thursday, January 26th. Susquehanna lowered their price target on General Dynamics from $285.00 to $263.00 in a research report on Thursday, January 26th. Morgan Stanley raised their price objective on General Dynamics from $243.00 to $248.00 in a research note on Thursday, January 26th. JPMorgan Chase & Co. reduced their price objective on General Dynamics from $260.00 to $245.00 and set an “overweight” rating on the stock in a research note on Friday, January 27th. Finally, Citigroup reduced their price objective on General Dynamics from $298.00 to $283.00 and set a “buy” rating on the stock in a research note on Thursday, January 26th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, General Dynamics currently has a consensus rating of “Moderate Buy” and an average target price of $267.15.

General Dynamics Company Profile

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General Dynamics Corp. is a global aerospace and defense company, which engages in design, engineering, and manufacturing to deliver state-of-the-art solutions. It operates through the following business segments: Aerospace, Marine Systems, Combat Systems, and Technologies. The Aerospace segment designs, manufactures, and sells business jets.

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Institutional Ownership by Quarter for General Dynamics (NYSE:GD)

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