Itau Unibanco Holding S.A. Decreases Holdings in General Dynamics Co. (GD)
Itau Unibanco Holding S.A. reduced its stake in General Dynamics Co. (NYSE:GD) by 38.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,030 shares of the aerospace company’s stock after selling 637 shares during the period. Itau Unibanco Holding S.A.’s holdings in General Dynamics were worth $210,000 as of its most recent SEC filing.
Other hedge funds also recently modified their holdings of the company. Virtu Financial LLC raised its holdings in shares of General Dynamics by 298.5% during the fourth quarter. Virtu Financial LLC now owns 4,523 shares of the aerospace company’s stock valued at $920,000 after buying an additional 3,388 shares during the last quarter. Royce & Associates LP raised its holdings in shares of General Dynamics by 11.9% during the fourth quarter. Royce & Associates LP now owns 27,700 shares of the aerospace company’s stock valued at $5,636,000 after buying an additional 2,950 shares during the last quarter. Tower Research Capital LLC TRC raised its holdings in shares of General Dynamics by 269.3% during the fourth quarter. Tower Research Capital LLC TRC now owns 4,188 shares of the aerospace company’s stock valued at $852,000 after buying an additional 3,054 shares during the last quarter. BlackRock Inc. raised its holdings in shares of General Dynamics by 0.4% during the fourth quarter. BlackRock Inc. now owns 16,670,214 shares of the aerospace company’s stock valued at $3,391,556,000 after buying an additional 60,034 shares during the last quarter. Finally, Schroder Investment Management Group raised its holdings in shares of General Dynamics by 597.6% during the fourth quarter. Schroder Investment Management Group now owns 204,712 shares of the aerospace company’s stock valued at $41,648,000 after buying an additional 175,368 shares during the last quarter. Institutional investors own 86.88% of the company’s stock.
A number of research firms have recently weighed in on GD. Royal Bank of Canada lifted their price target on General Dynamics to $258.00 and gave the company an “outperform” rating in a report on Thursday, January 25th. Jefferies Group boosted their target price on General Dynamics to $247.00 and gave the stock a “buy” rating in a report on Thursday, January 25th. They noted that the move was a valuation call. Bank of America boosted their target price on General Dynamics from $245.00 to $260.00 and gave the stock a “buy” rating in a report on Thursday, January 25th. Argus raised General Dynamics to a “buy” rating and boosted their target price for the stock from $230.00 to $250.00 in a report on Tuesday, January 30th. Finally, Zacks Investment Research raised General Dynamics from a “hold” rating to a “buy” rating and set a $252.00 target price on the stock in a report on Friday, February 2nd. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and thirteen have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $232.57.
General Dynamics Co. (GD) opened at $220.75 on Thursday. The stock has a market capitalization of $65,868.78, a price-to-earnings ratio of 22.29, a price-to-earnings-growth ratio of 2.35 and a beta of 0.85. General Dynamics Co. has a twelve month low of $183.72 and a twelve month high of $229.54. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.40 and a quick ratio of 0.99.
General Dynamics (NYSE:GD) last posted its quarterly earnings results on Wednesday, January 24th. The aerospace company reported $2.50 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.37 by $0.13. The company had revenue of $8.28 billion for the quarter, compared to analysts’ expectations of $8.40 billion. General Dynamics had a return on equity of 27.22% and a net margin of 9.40%. The firm’s revenue was up 8.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.89 earnings per share. equities research analysts forecast that General Dynamics Co. will post 11.1 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, February 9th. Shareholders of record on Friday, January 19th were issued a $0.84 dividend. The ex-dividend date was Thursday, January 18th. This represents a $3.36 annualized dividend and a dividend yield of 1.52%. General Dynamics’s dividend payout ratio is currently 35.18%.
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General Dynamics Profile
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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