Mirae Asset Global Investments Co. Ltd. Has $9.22 Million Stake in General Dynamics Co. (NYSE:GD)

Mirae Asset Global Investments Co. Ltd. lifted its position in shares of General Dynamics Co. (NYSE:GD) by 96.5% during the fourth quarter, Holdings Channel.com reports. The firm owned 34,648 shares of the aerospace company’s stock after purchasing an additional 17,019 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in General Dynamics were worth $9,219,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of GD. International Assets Investment Management LLC raised its position in shares of General Dynamics by 40,389.3% during the third quarter. International Assets Investment Management LLC now owns 1,379,472 shares of the aerospace company’s stock worth $416,876,000 after purchasing an additional 1,376,065 shares during the period. State Street Corp raised its position in shares of General Dynamics by 9.4% during the third quarter. State Street Corp now owns 10,945,110 shares of the aerospace company’s stock worth $3,307,612,000 after purchasing an additional 943,247 shares during the period. Geode Capital Management LLC raised its position 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 buying an additional 638,342 shares during the last quarter. Two Sigma Advisers LP raised its position 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 buying an additional 463,000 shares during the last quarter. Finally, Barclays PLC raised its position in General Dynamics by 43.1% in the 3rd quarter. Barclays PLC now owns 942,485 shares of the aerospace company’s stock valued at $284,818,000 after buying an additional 283,972 shares during the last quarter. 86.14% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other General Dynamics news, Director Laura J. Schumacher sold 1,796 shares of the firm’s stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $255.68, for a total value of $459,201.28. Following the sale, the director now owns 11,175 shares of the company’s stock, valued at $2,857,224. This trade represents a 13.85 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Christopher J. Brady sold 5,540 shares of the firm’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $280.91, for a total value of $1,556,241.40. Following the completion of the sale, the vice president now directly owns 20,296 shares in the company, valued at approximately $5,701,349.36. The trade was a 21.44 % decrease in their position. The disclosure for this sale can be found here. 1.60% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research firms recently commented on GD. Jefferies Financial Group reissued a “hold” rating and issued a $300.00 price target (down from $345.00) on shares of General Dynamics in a research report on Thursday, December 12th. JPMorgan Chase & Co. lowered their price target on General Dynamics from $307.00 to $284.00 and set an “overweight” rating for the company in a research report on Thursday, January 30th. Susquehanna reduced their price objective on General Dynamics from $315.00 to $300.00 and set a “positive” rating for the company in a research note on Thursday, January 30th. Robert W. Baird restated a “neutral” rating and issued a $283.00 price objective (down previously from $345.00) on shares of General Dynamics in a research note on Tuesday, January 14th. Finally, Citigroup upped their price objective on General Dynamics from $354.00 to $360.00 and gave the company a “buy” rating in a research note on Tuesday, January 21st. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, General Dynamics presently has an average rating of “Hold” and a consensus target price of $300.06.

General Dynamics Stock Down 1.2 %

GD stock opened at $255.41 on Friday. General Dynamics Co. has a fifty-two week low of $247.01 and a fifty-two week high of $316.90. The stock has a fifty day moving average of $265.60 and a 200-day moving average of $286.09. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.82 and a current ratio of 1.37. The company has a market capitalization of $70.23 billion, a price-to-earnings ratio of 18.72, a PEG ratio of 1.46 and a beta of 0.61.

General Dynamics (NYSE:GD) last issued its 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%. As a group, equities research analysts predict that General Dynamics Co. will post 14.88 earnings per share for the current year.

General Dynamics announced that its board has authorized a stock repurchase plan on Wednesday, December 4th that allows the company to repurchase 10,000,000 outstanding shares. This repurchase authorization allows the aerospace company to reacquire shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

General Dynamics Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Friday, January 17th will be paid a $1.42 dividend. The ex-dividend date is Friday, January 17th. This represents a $5.68 annualized dividend and a yield of 2.22%. General Dynamics’s dividend payout ratio is currently 41.64%.

General Dynamics Company Profile

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.