Pitcairn Co. Has $1.48 Million Position in General Dynamics Co. (GD)
Pitcairn Co. boosted its position in General Dynamics Co. (NYSE:GD) by 4.6% in the 4th quarter, Holdings Channel reports. The firm owned 7,280 shares of the aerospace company’s stock after purchasing an additional 321 shares during the period. Pitcairn Co.’s holdings in General Dynamics were worth $1,481,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently made changes to their positions in GD. Highlander Capital Management LLC increased its stake in shares of General Dynamics by 101.4% during the 4th quarter. Highlander Capital Management LLC now owns 596 shares of the aerospace company’s stock valued at $121,000 after acquiring an additional 300 shares during the last quarter. Resources Investment Advisors Inc. increased its stake in shares of General Dynamics by 92.3% during the 4th quarter. Resources Investment Advisors Inc. now owns 625 shares of the aerospace company’s stock valued at $127,000 after acquiring an additional 300 shares during the last quarter. NuWave Investment Management LLC acquired a new position in shares of General Dynamics during the 4th quarter valued at about $130,000. Fieldpoint Private Securities LLC acquired a new position in shares of General Dynamics during the 3rd quarter valued at about $148,000. Finally, Independence Bank of Kentucky acquired a new position in shares of General Dynamics during the 4th quarter valued at about $157,000. 93.40% of the stock is owned by hedge funds and other institutional investors.
GD has been the subject of a number of research analyst reports. Royal Bank of Canada set a $239.00 price objective on shares of General Dynamics and gave the company a “buy” rating in a research note on Wednesday, November 15th. ValuEngine downgraded shares of General Dynamics from a “buy” rating to a “hold” rating in a research note on Thursday, November 30th. Zacks Investment Research downgraded shares of General Dynamics from a “hold” rating to a “sell” rating in a research note on Tuesday, December 26th. Jefferies Group upped their price objective on shares of General Dynamics to $247.00 and gave the company a “buy” rating in a research note on Thursday, January 25th. They noted that the move was a valuation call. Finally, Buckingham Research reaffirmed a “buy” rating and set a $260.00 price objective (up previously from $230.00) on shares of General Dynamics in a research note on Tuesday, January 30th. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and fourteen have assigned a buy rating to the company. General Dynamics currently has a consensus rating of “Buy” and an average target price of $235.88.
Shares of General Dynamics Co. (NYSE GD) opened at $223.34 on Monday. The company has a current ratio of 1.40, a quick ratio of 0.99 and a debt-to-equity ratio of 0.35. General Dynamics Co. has a fifty-two week low of $183.72 and a fifty-two week high of $229.54. The stock has a market capitalization of $66,317.15, a PE ratio of 22.45, a PEG ratio of 2.37 and a beta of 0.83.
General Dynamics (NYSE:GD) last issued its earnings results on Wednesday, January 24th. The aerospace company reported $2.50 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.37 by $0.13. General Dynamics had a return on equity of 27.22% and a net margin of 9.40%. The business had revenue of $8.28 billion during the quarter, compared to analysts’ expectations of $8.40 billion. During the same quarter in the previous year, the business earned $1.89 EPS. The company’s revenue for the quarter was up 8.1% on a year-over-year basis. research analysts expect that General Dynamics Co. will post 11.09 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, February 9th. Stockholders of record on Friday, January 19th were issued a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a dividend yield of 1.50%. The ex-dividend date of this dividend was Thursday, January 18th. General Dynamics’s payout ratio is currently 35.18%.
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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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