U S Global Investors Inc. Has $3.52 Million Stake in General Dynamics Corporation (GD)
U S Global Investors Inc. cut its stake in General Dynamics Corporation (NYSE:GD) by 5.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 17,118 shares of the aerospace company’s stock after selling 922 shares during the quarter. General Dynamics comprises about 1.0% of U S Global Investors Inc.’s portfolio, making the stock its 20th biggest position. U S Global Investors Inc.’s holdings in General Dynamics were worth $3,519,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors also recently made changes to their positions in the company. Global X Management Co. LLC grew its stake in General Dynamics by 17.4% during the 2nd quarter. Global X Management Co. LLC now owns 891 shares of the aerospace company’s stock worth $177,000 after buying an additional 132 shares during the last quarter. LMR Partners LLP purchased a new position in General Dynamics during the 2nd quarter worth $4,077,000. Morningstar Investment Services LLC grew its stake in General Dynamics by 24.1% during the 2nd quarter. Morningstar Investment Services LLC now owns 180,680 shares of the aerospace company’s stock worth $35,793,000 after buying an additional 35,034 shares during the last quarter. Jones Collombin Investment Counsel Inc purchased a new position in General Dynamics during the 2nd quarter worth $3,337,000. Finally, Brightworth purchased a new position in General Dynamics during the 3rd quarter worth $5,882,000. Institutional investors and hedge funds own 86.87% of the company’s stock.
Several research analysts recently weighed in on GD shares. Cowen restated a “buy” rating and set a $230.00 target price on shares of General Dynamics in a research note on Thursday, October 19th. Jefferies Group reiterated a “buy” rating and set a $236.00 price target on shares of General Dynamics in a research note on Thursday, October 26th. Zacks Investment Research upgraded General Dynamics from a “hold” rating to a “buy” rating and set a $238.00 price target on the stock in a research note on Thursday, October 26th. ValuEngine upgraded General Dynamics from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Finally, 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. Two research analysts have rated the stock with a sell rating, five have given a hold rating and nine have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $218.45.
General Dynamics (NYSE:GD) last issued its quarterly earnings data on Wednesday, October 25th. The aerospace company reported $2.52 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.43 by $0.09. The business had revenue of $7.58 billion during the quarter, compared to analysts’ expectations of $7.94 billion. General Dynamics had a return on equity of 27.98% and a net margin of 9.94%. The company’s revenue for the quarter was down 1.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.36 EPS. equities research analysts forecast that General Dynamics Corporation will post 9.81 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 9th. Stockholders of record on Friday, January 19th will be issued a $0.84 dividend. The ex-dividend date is Thursday, January 18th. This represents a $3.36 annualized dividend and a dividend yield of 1.67%. General Dynamics’s dividend payout ratio (DPR) is presently 33.50%.
In other news, insider John Patrick Casey sold 34,945 shares of the business’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 transaction, the insider now owns 144,378 shares of the company’s stock, valued at approximately $29,074,841.64. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Gregory S. Gallopoulos sold 78,370 shares of the business’s stock in a transaction dated Monday, November 6th. The shares were 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. Insiders own 6.70% of the company’s stock.
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General Dynamics Company Profile
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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