Edmp Inc. Invests $203,000 in General Dynamics Co. (GD) Stock
Edmp Inc. purchased a new stake in shares of General Dynamics Co. (NYSE:GD) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 965 shares of the aerospace company’s stock, valued at approximately $203,000.
Other large investors have also recently modified their holdings of the company. ETRADE Capital Management LLC lifted its holdings in shares of General Dynamics by 38.0% in the third quarter. ETRADE Capital Management LLC now owns 2,337 shares of the aerospace company’s stock worth $481,000 after buying an additional 643 shares in the last quarter. Brightworth purchased a new position in shares of General Dynamics in the third quarter worth $5,882,000. Park National Corp OH lifted its holdings in shares of General Dynamics by 7.6% in the third quarter. Park National Corp OH now owns 45,986 shares of the aerospace company’s stock worth $9,454,000 after buying an additional 3,234 shares in the last quarter. Amalgamated Bank lifted its holdings in shares of General Dynamics by 1.8% in the third quarter. Amalgamated Bank now owns 30,733 shares of the aerospace company’s stock worth $6,318,000 after buying an additional 549 shares in the last quarter. Finally, Alpha Cubed Investments LLC purchased a new position in shares of General Dynamics in the third quarter worth $278,000. 86.76% of the stock is currently owned by institutional investors and hedge funds.
GD has been the topic of several research reports. Zacks Investment Research upgraded shares of General Dynamics from a “hold” rating to a “buy” rating and set a $230.00 price target on the stock in a research report on Monday, October 2nd. Deutsche Bank restated a “hold” rating and issued a $210.00 price target (up previously from $200.00) on shares of General Dynamics in a research report on Monday, October 2nd. ValuEngine cut shares of General Dynamics from a “buy” rating to a “hold” rating in a research report on Tuesday, October 3rd. Citigroup restated a “neutral” rating and issued a $215.00 price target (up previously from $210.00) on shares of General Dynamics in a research report on Monday, October 9th. Finally, Cowen restated a “buy” rating and issued a $230.00 price target on shares of General Dynamics in a research report on Thursday, October 19th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and nine have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $218.92.
In other General Dynamics news, VP Gregory S. Gallopoulos sold 78,370 shares of the business’s stock in a transaction on Monday, November 6th. The shares were sold at an average price of $202.93, for a total transaction of $15,903,624.10. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider John Patrick Casey sold 34,945 shares of the business’s stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $201.38, for a total transaction of $7,037,224.10. Following the sale, the insider now directly owns 144,378 shares of the company’s stock, valued at $29,074,841.64. The disclosure for this sale can be found here. Insiders own 6.70% of the company’s stock.
General Dynamics Co. (NYSE:GD) traded up $5.08 during mid-day trading on Tuesday, reaching $210.59. 1,892,600 shares of the company’s stock were exchanged, compared to its average volume of 1,434,133. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.37 and a quick ratio of 0.93. General Dynamics Co. has a fifty-two week low of $172.43 and a fifty-two week high of $214.81. The company has a market capitalization of $63,050.00, a PE ratio of 20.91, a price-to-earnings-growth ratio of 2.27 and a beta of 0.72.
General Dynamics (NYSE:GD) last posted its quarterly earnings data on Wednesday, October 25th. The aerospace company reported $2.52 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.43 by $0.09. General Dynamics had a net margin of 9.94% and a return on equity of 27.98%. The business had revenue of $7.58 billion for the quarter, compared to analysts’ expectations of $7.94 billion. During the same quarter in the previous year, the business posted $2.36 earnings per share. The business’s revenue was down 1.0% compared to the same quarter last year. equities research analysts forecast that General Dynamics Co. will post 9.8 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 9th. Shareholders of record on Friday, January 19th will be given a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a yield of 1.60%. The ex-dividend date of this dividend is Thursday, January 18th. General Dynamics’s dividend payout ratio (DPR) is 33.37%.
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About General Dynamics
General Dynamics Corporation is a global aerospace and defense company. The Company offers a portfolio of products and services in business aviation; combat vehicles, weapons systems and munitions; information technology (IT) services and C4ISR (command, control, communications, computers, intelligence, surveillance and reconnaissance) solutions, and shipbuilding and ship repair.
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