Cohen Lawrence B Purchases 412 Shares of General Dynamics Co. (NYSE:GD)
Cohen Lawrence B raised its position in General Dynamics Co. (NYSE:GD) by 5.6% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 7,775 shares of the aerospace company’s stock after buying an additional 412 shares during the period. Cohen Lawrence B’s holdings in General Dynamics were worth $1,414,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Longview Asset Management LLC raised its stake in General Dynamics by 0.7% during the 1st quarter. Longview Asset Management LLC now owns 32,898,410 shares of the aerospace company’s stock worth $5,569,043,000 after buying an additional 215,179 shares during the period. Geode Capital Management LLC raised its stake in General Dynamics by 5.8% during the 4th quarter. Geode Capital Management LLC now owns 3,511,536 shares of the aerospace company’s stock worth $551,080,000 after buying an additional 193,294 shares during the period. Caisse DE Depot ET Placement DU Quebec raised its stake in General Dynamics by 8.1% during the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 3,365,297 shares of the aerospace company’s stock worth $569,677,000 after buying an additional 252,900 shares during the period. Janus Henderson Group PLC raised its stake in General Dynamics by 2.6% during the 2nd quarter. Janus Henderson Group PLC now owns 2,335,959 shares of the aerospace company’s stock worth $424,721,000 after buying an additional 58,222 shares during the period. Finally, Ellis Investment Partners LLC raised its stake in General Dynamics by 16,833.7% during the 1st quarter. Ellis Investment Partners LLC now owns 960,820 shares of the aerospace company’s stock worth $960,000 after buying an additional 955,146 shares during the period. Hedge funds and other institutional investors own 86.84% of the company’s stock.
GD has been the topic of several recent research reports. Cowen reissued a “buy” rating and issued a $202.00 price target on shares of General Dynamics in a research note on Wednesday, April 24th. JPMorgan Chase & Co. upgraded shares of General Dynamics from an “underweight” rating to a “neutral” rating and lifted their price target for the company from $188.00 to $200.00 in a research report on Thursday, April 25th. They noted that the move was a valuation call. Zacks Investment Research upgraded shares of General Dynamics from a “hold” rating to a “buy” rating and set a $171.00 price target for the company in a research report on Monday, June 3rd. UBS Group lifted their price target on shares of General Dynamics from $175.00 to $190.00 and gave the company a “neutral” rating in a research report on Thursday, April 25th. Finally, ValuEngine upgraded shares of General Dynamics from a “sell” rating to a “hold” rating in a research report on Thursday, June 6th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and seven have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $191.35.
Shares of GD opened at $183.11 on Wednesday. General Dynamics Co. has a one year low of $143.87 and a one year high of $207.72. The firm has a market capitalization of $52.37 billion, a P/E ratio of 16.03, a P/E/G ratio of 1.78 and a beta of 1.21. The company has a current ratio of 1.09, a quick ratio of 0.73 and a debt-to-equity ratio of 0.70. The company’s 50 day moving average price is $183.58.
General Dynamics (NYSE:GD) last announced its quarterly earnings data on Wednesday, July 24th. The aerospace company reported $2.77 EPS for the quarter, beating the consensus estimate of $2.68 by $0.09. General Dynamics had a net margin of 8.65% and a return on equity of 26.81%. The business had revenue of $9.56 billion during the quarter, compared to the consensus estimate of $9.36 billion. During the same period in the previous year, the business earned $2.82 earnings per share. The company’s revenue was up 4.0% on a year-over-year basis. Equities analysts expect that General Dynamics Co. will post 11.83 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, October 11th will be given a dividend of $1.02 per share. The ex-dividend date is Thursday, October 10th. This represents a $4.08 annualized dividend and a yield of 2.23%. General Dynamics’s dividend payout ratio is currently 35.73%.
General Dynamics Profile
General Dynamics Corporation operates as an aerospace and defense company worldwide. It operates in five segments: Aerospace, Combat Systems, Information Technology, Mission Systems, and Marine Systems. The Aerospace segment designs, manufactures, and supports business-jet aircraft; and offers business-aviation services, including maintenance, fixed-base operation, government fleet, aircraft management, charter, and staffing services, as well as integrated aviation solutions.
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