Carnick & Kubik Group LLC Has $3.05 Million Holdings in General Dynamics Co. (GD)
Carnick & Kubik Group LLC raised its stake in General Dynamics Co. (NYSE:GD) by 14.4% in the fourth quarter, HoldingsChannel reports. The firm owned 14,988 shares of the aerospace company’s stock after acquiring an additional 1,883 shares during the quarter. Carnick & Kubik Group LLC’s holdings in General Dynamics were worth $3,049,000 as of its most recent SEC filing.
A number of other hedge funds also recently bought and sold shares of GD. Quadrant Capital Group LLC lifted its position in shares of General Dynamics by 6.1% in the second quarter. Quadrant Capital Group LLC now owns 645 shares of the aerospace company’s stock valued at $110,000 after buying an additional 37 shares during the last quarter. Resources Investment Advisors Inc. lifted its position in shares of General Dynamics by 92.3% in the fourth quarter. Resources Investment Advisors Inc. now owns 625 shares of the aerospace company’s stock valued at $127,000 after buying an additional 300 shares during the last quarter. NuWave Investment Management LLC acquired a new stake in shares of General Dynamics in the fourth quarter valued at approximately $130,000. WFG Advisors LP lifted its position in shares of General Dynamics by 0.3% in the second quarter. WFG Advisors LP now owns 668 shares of the aerospace company’s stock valued at $132,000 after buying an additional 2 shares during the last quarter. Finally, Fieldpoint Private Securities LLC acquired a new stake in shares of General Dynamics in the third quarter valued at approximately $148,000. Hedge funds and other institutional investors own 87.03% of the company’s stock.
GD has been the subject of a number of recent analyst reports. Cowen reaffirmed a “buy” rating and issued a $230.00 price objective on shares of General Dynamics in a research report on Thursday, October 26th. Jefferies Group reaffirmed a “buy” rating and issued a $236.00 price objective on shares of General Dynamics in a research report on Thursday, October 26th. Zacks Investment Research raised General Dynamics from a “hold” rating to a “buy” rating and set a $238.00 price objective for the company in a research report on Thursday, October 26th. Royal Bank of Canada set a $239.00 price objective on General Dynamics and gave the company a “buy” rating in a research report on Wednesday, November 15th. Finally, Bank of America raised their price objective on General Dynamics from $245.00 to $260.00 and gave the company a “buy” rating in a research report on Thursday, January 25th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and thirteen have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $231.94.
General Dynamics (NYSE:GD) last released its quarterly earnings results on Wednesday, January 24th. The aerospace company reported $2.50 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.37 by $0.13. The business had revenue of $8.28 billion during the quarter, compared to analysts’ expectations of $8.40 billion. General Dynamics had a return on equity of 27.22% and a net margin of 9.40%. The firm’s revenue for the quarter was up 8.1% compared to the same quarter last year. During the same period last year, the firm posted $1.89 EPS. analysts predict that General Dynamics Co. will post 11.1 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, February 9th. Investors of record on Friday, January 19th were issued a dividend of $0.84 per share. The ex-dividend date of this dividend was Thursday, January 18th. This represents a $3.36 annualized dividend and a yield of 1.60%. General Dynamics’s payout ratio is currently 35.18%.
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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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