State of Alaska Department of Revenue increased its position in shares of General Dynamics Co. (NYSE:GD) by 413.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 28,879 shares of the aerospace company’s stock after buying an additional 23,252 shares during the period. State of Alaska Department of Revenue’s holdings in General Dynamics were worth $5,872,000 at the end of the most recent quarter.
Several other institutional investors have also recently made changes to their positions in GD. Quadrant Capital Group LLC increased its stake in shares of General Dynamics by 6.1% during the second quarter. Quadrant Capital Group LLC now owns 645 shares of the aerospace company’s stock valued at $110,000 after buying an additional 37 shares during the period. Vantage Investment Advisors LLC increased its stake in shares of General Dynamics by 9.3% during the second quarter. Vantage Investment Advisors LLC now owns 585 shares of the aerospace company’s stock valued at $116,000 after buying an additional 50 shares during the period. Captrust Financial Advisors purchased a new position in shares of General Dynamics during the second quarter valued at $129,000. WFG Advisors LP increased its stake in shares of General Dynamics by 0.3% during the second quarter. WFG Advisors LP now owns 668 shares of the aerospace company’s stock valued at $132,000 after buying an additional 2 shares during the period. Finally, Fieldpoint Private Securities LLC purchased a new position in shares of General Dynamics during the third quarter valued at $148,000. Hedge funds and other institutional investors own 86.76% of the company’s stock.
Shares of General Dynamics Co. (NYSE:GD) opened at $209.10 on Friday. General Dynamics Co. has a 12-month low of $172.43 and a 12-month high of $214.81. The firm has a market capitalization of $62,433.71, a PE ratio of 20.76, a P/E/G ratio of 2.24 and a beta of 0.72. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.93 and a current ratio of 1.37.
The firm also recently declared a quarterly dividend, which will be paid on Friday, February 9th. Shareholders of record on Friday, January 19th will be issued a $0.84 dividend. This represents a $3.36 annualized dividend and a yield of 1.61%. The ex-dividend date of this dividend is Thursday, January 18th. General Dynamics’s dividend payout ratio is presently 33.50%.
Several equities analysts have recently commented on GD shares. Royal Bank of Canada set a $239.00 price target on General Dynamics and gave the company a “buy” rating in a research note on Wednesday, November 15th. Cowen reaffirmed a “buy” rating and set a $230.00 price objective on shares of General Dynamics in a research report on Thursday, October 19th. Deutsche Bank reaffirmed a “hold” rating and set a $210.00 price objective (up previously from $200.00) on shares of General Dynamics in a research report on Monday, October 2nd. ValuEngine downgraded General Dynamics from a “buy” rating to a “hold” rating in a research report on Thursday, November 30th. Finally, Stifel Nicolaus raised their price objective on General Dynamics from $200.00 to $210.00 and gave the company a “hold” rating in a research report on Thursday, October 26th. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and nine have assigned a buy rating to the company. General Dynamics has a consensus rating of “Hold” and a consensus target price of $218.92.
In other General Dynamics news, insider John Patrick Casey sold 34,945 shares of the firm’s stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $201.38, for a total value of $7,037,224.10. Following the completion of the sale, the insider now owns 144,378 shares of the company’s stock, valued at $29,074,841.64. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Gregory S. Gallopoulos sold 78,370 shares of the firm’s stock in a transaction dated Monday, November 6th. The stock was sold at an average price of $202.93, for a total value of $15,903,624.10. The disclosure for this sale can be found here. 6.70% of the stock is currently owned by company insiders.
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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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