Scopus Asset Management L.P. acquired a new position in shares of General Dynamics Corporation (NYSE:GD) during the third quarter, Holdings Channel reports. The firm acquired 350,000 shares of the company’s stock, valued at approximately $54,306,000. General Dynamics Corporation makes up about 0.9% of Scopus Asset Management L.P.’s holdings, making the stock its 28th largest position. Scopus Asset Management L.P. owned 0.12% of General Dynamics Corporation as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Wells Fargo & Company MN raised its position in shares of General Dynamics Corporation by 27.6% in the third quarter. Wells Fargo & Company MN now owns 7,270,811 shares of the company’s stock worth $1,128,140,000 after buying an additional 1,573,092 shares in the last quarter. Third Point LLC raised its stake in General Dynamics Corporation by 280.2% in the third quarter. Third Point LLC now owns 1,350,000 shares of the company’s stock valued at $209,466,000 after buying an additional 994,900 shares during the period. First Eagle Investment Management LLC raised its stake in General Dynamics Corporation by 96.4% in the third quarter. First Eagle Investment Management LLC now owns 1,780,485 shares of the company’s stock valued at $276,260,000 after buying an additional 873,795 shares during the period. Farallon Capital Management LLC bought a new stake in General Dynamics Corporation during the second quarter valued at approximately $91,787,000. Finally, UBS Asset Management Americas Inc. raised its stake in General Dynamics Corporation by 65.9% in the third quarter. UBS Asset Management Americas Inc. now owns 1,352,887 shares of the company’s stock valued at $209,915,000 after buying an additional 537,427 shares during the period. 88.47% of the stock is currently owned by institutional investors and hedge funds.
General Dynamics Corporation (NYSE:GD) opened at 184.40 on Friday. The company’s 50-day moving average price is $178.24 and its 200-day moving average price is $162.54. The stock has a market cap of $55.56 billion, a P/E ratio of 19.36 and a beta of 0.75. General Dynamics Corporation has a 12 month low of $127.74 and a 12 month high of $187.37.
General Dynamics Corporation (NYSE:GD) last posted its quarterly earnings data on Friday, January 27th. The company reported $2.62 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.52 by $0.10. The firm earned $8.20 billion during the quarter, compared to the consensus estimate of $8.29 billion. General Dynamics Corporation had a return on equity of 27.92% and a net margin of 9.42%. The firm’s revenue was up 5.4% compared to the same quarter last year. During the same period in the prior year, the business earned $2.40 EPS. Equities analysts forecast that General Dynamics Corporation will post $9.76 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, February 10th. Shareholders of record on Friday, January 20th were given a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a yield of 1.65%. The ex-dividend date was Wednesday, January 18th. General Dynamics Corporation’s payout ratio is 31.90%.
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Several research firms recently commented on GD. Vetr lowered General Dynamics Corporation from a “hold” rating to a “sell” rating and set a $171.02 target price on the stock. in a report on Thursday, December 1st. S&P Equity Research raised General Dynamics Corporation to a “buy” rating in a report on Thursday, December 1st. Zacks Investment Research raised General Dynamics Corporation from a “hold” rating to a “buy” rating and set a $200.00 target price on the stock in a report on Thursday, December 8th. Jefferies Group LLC reaffirmed a “buy” rating and set a $175.00 target price (up from $167.00) on shares of General Dynamics Corporation in a report on Friday, October 28th. Finally, RBC Capital Markets raised their target price on General Dynamics Corporation from $206.00 to $211.00 and gave the stock an “outperform” rating in a report on Monday, January 30th. Three equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $172.94.
In other General Dynamics Corporation news, VP Gregory S. Gallopoulos sold 39,860 shares of the business’s stock in a transaction that occurred on Tuesday, January 31st. The stock was sold at an average price of $179.99, for a total transaction of $7,174,401.40. Following the transaction, the vice president now owns 146,534 shares in the company, valued at approximately $26,374,654.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John Patrick Casey sold 69,895 shares of the business’s stock in a transaction that occurred on Monday, December 5th. The stock was sold at an average price of $178.51, for a total value of $12,476,956.45. Following the transaction, the insider now owns 197,562 shares in the company, valued at approximately $35,266,792.62. The disclosure for this sale can be found here. Insiders own 6.80% of the company’s stock.
About General Dynamics Corporation
General Dynamics Corporation is an aerospace and defense company that offers a portfolio of products and services in business aviation; combat vehicles, weapons systems and munitions; command, control, communications, computers, intelligence, surveillance and reconnaissance (C4ISR) solutions and information technology (IT) services, and shipbuilding.
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