HM Payson & Co. Increases Position in General Dynamics Co. (NYSE:GD)
HM Payson & Co. boosted its holdings in General Dynamics Co. (NYSE:GD) by 5.8% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 240,829 shares of the aerospace company’s stock after purchasing an additional 13,176 shares during the quarter. General Dynamics comprises 1.4% of HM Payson & Co.’s portfolio, making the stock its 24th largest position. HM Payson & Co. owned approximately 0.08% of General Dynamics worth $42,470,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also made changes to their positions in GD. Princeton Global Asset Management LLC bought a new stake in General Dynamics during the 4th quarter valued at about $25,000. Simon Quick Advisors LLC bought a new stake in shares of General Dynamics in the 4th quarter worth approximately $29,000. Anderson Fisher LLC bought a new position in shares of General Dynamics during the 4th quarter worth approximately $31,000. Solstein Capital LLC bought a new position in shares of General Dynamics during the 4th quarter worth approximately $31,000. Finally, Wealthcare Advisory Partners LLC lifted its position in shares of General Dynamics by 30.2% during the 4th quarter. Wealthcare Advisory Partners LLC now owns 263 shares of the aerospace company’s stock worth $46,000 after buying an additional 61 shares during the period. Institutional investors and hedge funds own 86.39% of the company’s stock.
GD has been the subject of several research analyst reports. ValuEngine upgraded General Dynamics from a “sell” rating to a “hold” rating in a research report on Friday, March 6th. TheStreet cut General Dynamics from a “b” rating to a “c+” rating in a research note on Friday, March 13th. JPMorgan Chase & Co. raised General Dynamics from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $210.00 to $225.00 in a research note on Thursday, February 6th. Morgan Stanley lowered their target price on General Dynamics from $175.00 to $146.00 and set an “underweight” rating for the company in a research note on Tuesday. Finally, Cfra raised General Dynamics from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $195.00 to $211.00 in a research note on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and nine have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $203.36.
General Dynamics (NYSE:GD) last issued its quarterly earnings results on Wednesday, January 29th. The aerospace company reported $3.51 earnings per share for the quarter, topping the Zacks’ consensus estimate of $3.44 by $0.07. The firm had revenue of $10.77 billion during the quarter, compared to the consensus estimate of $10.64 billion. General Dynamics had a return on equity of 26.70% and a net margin of 8.85%. The business’s revenue was up 3.8% compared to the same quarter last year. During the same period last year, the business posted $3.07 EPS. Analysts anticipate that General Dynamics Co. will post 12.56 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 8th. Shareholders of record on Friday, April 10th will be paid a $1.10 dividend. This is a boost from General Dynamics’s previous quarterly dividend of $1.02. This represents a $4.40 dividend on an annualized basis and a dividend yield of 3.41%. The ex-dividend date of this dividend is Wednesday, April 8th. General Dynamics’s dividend payout ratio (DPR) is presently 34.06%.
General Dynamics announced that its board has initiated a stock buyback program on Wednesday, March 4th that permits the company to repurchase 10,000,000 shares. This repurchase authorization permits the aerospace company to buy shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s management believes its shares are undervalued.
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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