Chesley Taft & Associates LLC cut its holdings in shares of General Dynamics Co. (NYSE:GD – Get Rating) by 34.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,630 shares of the aerospace company’s stock after selling 850 shares during the quarter. Chesley Taft & Associates LLC’s holdings in General Dynamics were worth $404,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also recently added to or reduced their stakes in the company. GoalVest Advisory LLC purchased a new position in General Dynamics during the fourth quarter worth about $25,000. MADDEN SECURITIES Corp purchased a new position in shares of General Dynamics in the 4th quarter worth about $25,000. Certified Advisory Corp purchased a new position in shares of General Dynamics in the 1st quarter worth about $25,000. Coston McIsaac & Partners purchased a new position in shares of General Dynamics in the 2nd quarter worth about $32,000. Finally, Annapolis Financial Services LLC purchased a new position in shares of General Dynamics in the 3rd quarter worth about $36,000. 84.83% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of equities analysts have recently commented on the company. Susquehanna cut their price objective on General Dynamics from $285.00 to $263.00 in a report on Thursday, January 26th. JPMorgan Chase & Co. cut their price objective on General Dynamics from $260.00 to $245.00 and set an “overweight” rating on the stock in a report on Friday, January 27th. Citigroup lowered their target price on General Dynamics from $298.00 to $283.00 and set a “buy” rating for the company in a research note on Thursday, January 26th. StockNews.com lowered General Dynamics from a “strong-buy” rating to a “buy” rating in a research note on Monday, March 13th. Finally, Cowen increased their target price on General Dynamics from $260.00 to $285.00 in a research note on Tuesday, January 3rd. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $267.15.
General Dynamics Price Performance
General Dynamics (NYSE:GD – Get Rating) last issued its quarterly earnings data on Wednesday, January 25th. The aerospace company reported $3.58 earnings per share for the quarter, beating analysts’ consensus estimates of $3.53 by $0.05. General Dynamics had a return on equity of 18.93% and a net margin of 8.60%. The firm had revenue of $10.85 billion during the quarter, compared to analyst estimates of $10.66 billion. During the same quarter last year, the firm earned $3.39 EPS. General Dynamics’s quarterly revenue was up 5.4% on a year-over-year basis. Sell-side analysts expect that General Dynamics Co. will post 12.73 earnings per share for the current fiscal year.
General Dynamics Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 12th. Shareholders of record on Friday, April 14th will be paid a dividend of $1.32 per share. This represents a $5.28 dividend on an annualized basis and a yield of 2.33%. The ex-dividend date of this dividend is Thursday, April 13th. This is a positive change from General Dynamics’s previous quarterly dividend of $1.26. General Dynamics’s dividend payout ratio (DPR) is 43.28%.
Insider Transactions at General Dynamics
In other news, VP Mark Lagrand Burns sold 27,600 shares of General Dynamics stock in a transaction that occurred on Friday, January 27th. The stock was 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 owns 56,909 shares in the company, valued at approximately $12,914,359.37. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 1.50% of the company’s stock.
General Dynamics Company Profile
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.
Featured Articles
- Get a free copy of the StockNews.com research report on General Dynamics (GD)
- Dave & Buster’s Rebound Could Score for Investors
- Cal-Maine: Is it Time to Chase this Stock Higher?
- The Most Important Warren Buffett Stock for Investors: His Own
- Three Mid Caps Wall Street Sees Doubling Within 12 Months
- It’s No Stretch: Lululemon Could Break Out of its Range
Want to see what other hedge funds are holding GD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for General Dynamics Co. (NYSE:GD – Get Rating).
Receive News & Ratings for General Dynamics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for General Dynamics and related companies with MarketBeat.com's FREE daily email newsletter.
