Cibc World Markets Corp Raises Holdings in General Dynamics Co. (NYSE:GD)

Cibc World Markets Corp increased its stake in shares of General Dynamics Co. (NYSE:GD) by 18.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 39,624 shares of the aerospace company’s stock after purchasing an additional 6,058 shares during the period. Cibc World Markets Corp’s holdings in General Dynamics were worth $10,441,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of GD. State Street Corp lifted its position in shares of General Dynamics by 9.4% in the third quarter. State Street Corp now owns 10,945,110 shares of the aerospace company’s stock valued at $3,307,612,000 after acquiring an additional 943,247 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in General Dynamics during the 4th quarter worth about $197,238,000. Geode Capital Management LLC raised its stake in General Dynamics by 13.0% in the 3rd quarter. Geode Capital Management LLC now owns 5,557,404 shares of the aerospace company’s stock valued at $1,674,998,000 after purchasing an additional 638,342 shares during the last quarter. Two Sigma Advisers LP lifted its holdings in General Dynamics by 117.0% in the 3rd quarter. Two Sigma Advisers LP now owns 858,600 shares of the aerospace company’s stock valued at $259,469,000 after purchasing an additional 463,000 shares in the last quarter. Finally, Barclays PLC boosted its stake in shares of General Dynamics by 43.1% during the 3rd quarter. Barclays PLC now owns 942,485 shares of the aerospace company’s stock worth $284,818,000 after purchasing an additional 283,972 shares during the last quarter. Hedge funds and other institutional investors own 86.14% of the company’s stock.

Analyst Upgrades and Downgrades

GD has been the topic of several recent analyst reports. BTIG Research downgraded shares of General Dynamics from a “buy” rating to a “neutral” rating in a research note on Thursday, February 13th. Wells Fargo & Company increased their price target on General Dynamics from $244.00 to $261.00 and gave the stock an “equal weight” rating in a research note on Friday, March 7th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $300.00 price objective (down previously from $345.00) on shares of General Dynamics in a research report on Thursday, December 12th. UBS Group decreased their price target on General Dynamics from $337.00 to $281.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 28th. Finally, TD Cowen lowered their price target on General Dynamics from $315.00 to $295.00 in a report on Tuesday, January 28th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $297.71.

General Dynamics Trading Up 0.9 %

NYSE:GD opened at $267.51 on Wednesday. General Dynamics Co. has a 12 month low of $239.87 and a 12 month high of $316.90. The business’s 50-day moving average is $258.20 and its two-hundred day moving average is $278.32. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.37 and a quick ratio of 0.82. The firm has a market capitalization of $72.32 billion, a PE ratio of 19.61, a price-to-earnings-growth ratio of 1.69 and a beta of 0.59.

General Dynamics (NYSE:GD) last released its quarterly earnings results on Wednesday, January 29th. The aerospace company reported $4.15 EPS for the quarter, missing the consensus estimate of $4.29 by ($0.14). General Dynamics had a return on equity of 17.10% and a net margin of 7.93%. Research analysts predict that General Dynamics Co. will post 14.83 earnings per share for the current fiscal year.

General Dynamics Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 9th. Investors of record on Friday, April 11th will be issued a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a yield of 2.24%. This is a positive change from General Dynamics’s previous quarterly dividend of $1.42. The ex-dividend date is Friday, April 11th. General Dynamics’s dividend payout ratio (DPR) is presently 43.99%.

General Dynamics announced that its board has authorized a stock buyback program on Wednesday, December 4th that authorizes the company to repurchase 10,000,000 shares. This repurchase authorization authorizes the aerospace company to reacquire shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are undervalued.

Insider Buying and Selling

In other news, Director Laura J. Schumacher sold 1,796 shares of the stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $255.68, for a total transaction of $459,201.28. Following the completion of the transaction, the director now directly owns 11,175 shares in the company, valued at approximately $2,857,224. This represents a 13.85 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Marguerite Amy Gilliland sold 27,562 shares of General Dynamics stock in a transaction on Monday, March 10th. The stock was sold at an average price of $272.11, for a total transaction of $7,499,895.82. Following the completion of the sale, the senior vice president now owns 45,192 shares of the company’s stock, valued at approximately $12,297,195.12. This trade represents a 37.88 % decrease in their position. The disclosure for this sale can be found here. 1.52% of the stock is currently owned by insiders.

About General Dynamics

General Dynamics Corporation operates as an aerospace and defense company worldwide. It operates through four segments: Aerospace, Marine Systems, Combat Systems, and Technologies. The Aerospace segment produces and sells business jets; and offers aircraft maintenance and repair, management, aircraft-on-ground support and completion, charter, staffing, and fixed-base operator services.