Epoch Investment Partners Inc. reduced its stake in shares of General Dynamics Co. (NYSE:GD – Free Report) by 1.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 80,080 shares of the aerospace company’s stock after selling 1,339 shares during the period. Epoch Investment Partners Inc.’s holdings in General Dynamics were worth $18,275,000 as of its most recent SEC filing.
Several other large investors have also modified their holdings of the stock. Wells Fargo & Company MN lifted its holdings in shares of General Dynamics by 0.3% during the 4th quarter. Wells Fargo & Company MN now owns 6,318,574 shares of the aerospace company’s stock worth $1,567,701,000 after acquiring an additional 20,225 shares during the period. Geode Capital Management LLC lifted its holdings in shares of General Dynamics by 0.7% during the 4th quarter. Geode Capital Management LLC now owns 3,968,976 shares of the aerospace company’s stock worth $982,714,000 after acquiring an additional 29,487 shares during the period. Envestnet Asset Management Inc. lifted its holdings in shares of General Dynamics by 325.6% during the 1st quarter. Envestnet Asset Management Inc. now owns 2,857,786 shares of the aerospace company’s stock worth $155,968,000 after acquiring an additional 2,186,369 shares during the period. Sanders Capital LLC acquired a new stake in General Dynamics during the 1st quarter worth approximately $630,466,000. Finally, Morgan Stanley increased its position in General Dynamics by 12.1% during the 4th quarter. Morgan Stanley now owns 2,622,031 shares of the aerospace company’s stock worth $650,552,000 after purchasing an additional 282,436 shares in the last quarter. 86.08% of the stock is currently owned by hedge funds and other institutional investors.
Insider Transactions at General Dynamics
In other news, CEO Phebe N. Novakovic sold 33,230 shares of the firm’s stock in a transaction that occurred on Friday, August 11th. The shares were sold at an average price of $227.96, for a total transaction of $7,575,110.80. Following the completion of the sale, the chief executive officer now owns 778,092 shares of the company’s stock, valued at $177,373,852.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, SVP Marguerite Amy Gilliland sold 13,500 shares of the firm’s stock in a transaction on Thursday, August 3rd. The stock was sold at an average price of $225.46, for a total transaction of $3,043,710.00. Following the transaction, the senior vice president now directly owns 44,157 shares in the company, valued at $9,955,637.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Phebe N. Novakovic sold 33,230 shares of the firm’s stock in a transaction on Friday, August 11th. The stock was sold at an average price of $227.96, for a total value of $7,575,110.80. Following the transaction, the chief executive officer now owns 778,092 shares in the company, valued at $177,373,852.32. The disclosure for this sale can be found here. Over the last quarter, insiders sold 53,230 shares of company stock valued at $12,086,716. 1.50% of the stock is currently owned by corporate insiders.
Wall Street Analyst Weigh In
A number of analysts recently issued reports on GD shares. StockNews.com started coverage on shares of General Dynamics in a research report on Thursday, August 17th. They set a “buy” rating for the company. Morgan Stanley increased their target price on shares of General Dynamics from $248.00 to $250.00 in a research report on Thursday, July 27th. Finally, Wells Fargo & Company increased their target price on shares of General Dynamics from $244.00 to $258.00 and gave the stock an “overweight” rating in a research report on Friday, July 28th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $262.38.
Read Our Latest Analysis on General Dynamics
General Dynamics Stock Down 0.8 %
NYSE:GD traded down $1.78 during trading hours on Wednesday, hitting $221.55. The stock had a trading volume of 46,381 shares, compared to its average volume of 1,166,118. The company has a current ratio of 1.39, a quick ratio of 0.90 and a debt-to-equity ratio of 0.47. General Dynamics Co. has a 1-year low of $202.35 and a 1-year high of $256.86. The business has a 50 day simple moving average of $221.01 and a two-hundred day simple moving average of $219.83. The company has a market cap of $60.49 billion, a PE ratio of 18.33, a price-to-earnings-growth ratio of 2.01 and a beta of 0.84.
General Dynamics (NYSE:GD – Get Free Report) last issued its quarterly earnings data on Wednesday, July 26th. The aerospace company reported $2.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.59 by $0.11. General Dynamics had a net margin of 8.24% and a return on equity of 18.01%. The company had revenue of $10.15 billion during the quarter, compared to the consensus estimate of $9.45 billion. During the same quarter last year, the company earned $2.75 earnings per share. General Dynamics’s revenue for the quarter was up 10.5% on a year-over-year basis. Analysts predict that General Dynamics Co. will post 12.64 EPS for the current year.
General Dynamics Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, November 10th. Stockholders of record on Friday, October 6th will be given a dividend of $1.32 per share. This represents a $5.28 dividend on an annualized basis and a dividend yield of 2.38%. The ex-dividend date of this dividend is Thursday, October 5th. General Dynamics’s payout ratio is currently 43.35%.
General Dynamics Profile
General Dynamics Corporation operates as an aerospace and defense company worldwide. It operates through four segments: Aerospace, Marine Systems, Combat Systems, and Technologies. The Aerospace segment produces and sells business jets; and offers aircraft maintenance and repair, management, aircraft-on-ground support and completion, charter, staffing, and fixed-base operator services.
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