Mather Group LLC. lifted its stake in General Dynamics Co. (NYSE:GD) by 12.5% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,446 shares of the aerospace company’s stock after purchasing an additional 3,152 shares during the period. Mather Group LLC.’s holdings in General Dynamics were worth $5,198,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. Prestige Wealth Management Group LLC bought a new position in shares of General Dynamics in the 2nd quarter valued at about $29,000. KCS Wealth Advisory bought a new position in shares of General Dynamics in the 3rd quarter valued at about $31,000. Kings Point Capital Management bought a new position in shares of General Dynamics in the 2nd quarter valued at about $36,000. TCI Wealth Advisors Inc. lifted its holdings in shares of General Dynamics by 213.3% in the 3rd quarter. TCI Wealth Advisors Inc. now owns 235 shares of the aerospace company’s stock valued at $43,000 after acquiring an additional 160 shares during the last quarter. Finally, Stonebridge Capital Advisors LLC bought a new position in shares of General Dynamics in the 2nd quarter valued at about $46,000. Hedge funds and other institutional investors own 86.12% of the company’s stock.
In other General Dynamics news, EVP Christopher Marzilli sold 32,930 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $187.16, for a total value of $6,163,178.80. Following the completion of the sale, the executive vice president now directly owns 100,557 shares in the company, valued at $18,820,248.12. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 7.10% of the stock is owned by company insiders.
General Dynamics (NYSE:GD) last issued its quarterly earnings data on Wednesday, October 23rd. The aerospace company reported $3.14 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $3.06 by $0.08. The company had revenue of $9.76 billion for the quarter, compared to analyst estimates of $9.75 billion. General Dynamics had a net margin of 8.66% and a return on equity of 26.79%. General Dynamics’s revenue was up 7.3% compared to the same quarter last year. During the same period last year, the company posted $2.89 earnings per share. On average, equities research analysts predict that General Dynamics Co. will post 11.91 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Friday, January 17th will be paid a $1.02 dividend. This represents a $4.08 annualized dividend and a yield of 2.29%. General Dynamics’s dividend payout ratio (DPR) is 35.73%.
A number of research firms recently weighed in on GD. Cowen set a $202.00 price objective on shares of General Dynamics and gave the stock a “buy” rating in a research report on Friday, August 30th. Zacks Investment Research raised shares of General Dynamics from a “hold” rating to a “buy” rating and set a $203.00 price objective on the stock in a research report on Monday, September 2nd. Barclays set a $215.00 price objective on shares of General Dynamics and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Finally, Morgan Stanley reduced their price objective on shares of General Dynamics from $173.00 to $172.00 and set an “underweight” rating on the stock in a research report on Thursday, October 10th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the stock. General Dynamics presently has a consensus rating of “Hold” and a consensus price target of $192.06.
About General Dynamics
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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