Longview Asset Management LLC recently announced the acquisition of new stake in General Dynamics Corporation (NYSE:GD). The institutional investor has increased its shareholding in the Industrials company by 0.00% to 28.29 million shares with purchase of 485.0 shares. This fresh investment now brings its stake to 10.31% valued currently at $6.18 billion. In addition, The Vanguard Group, Inc. raised its holdings by 0.26 million to 21.25 million shares. And Newport Trust Co. has lifted its position by 0.23% or 37994.0 shares – to 16.51 million shares.
With over 1.8 million General Dynamics Corporation (GD) shares trading Tuesday and a closing price of $206.95 on the day, the dollar volume was approximately $371.89 million. The shares have shown a negative half year performance of -16.63% and its price on 05/23/23 lost nearly -2.62%. Currently, there are 274.00M common shares owned by the public and among those 273.28M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 25 analysts who have offered their price forecasts for GD have a consensus price objective of $264.75. The analysts have set the share’s price value over the next 12 months at a high of $325.00 and a low of $218.00. The average price target is 22.02% above its recent price level and an upside to the estimated low will see the stock gain 5.07% over that period. But an upside of 36.32% will see the stock hit the forecast high price target while median target price for the stock is $262.50.
Insiders at the company have transacted a total of 128 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 81 of these insider trades were purchases, accounting for 775,904 shares. Insider sales of the common stock occurred on 47 occasions, with total insider shares sold totaling 684,281 shares.
The top 3 mutual fund holders in General Dynamics Corporation are Vanguard Total Stock Market ETF, Vanguard Dividend Growth Fund, and Vanguard 500 Index Fund. Vanguard Total Stock Market ETF owns 7.65 million shares of the company’s stock, all valued at over $1.67 billion. The company bought an additional 46716.0 shares recently to bring their total holdings to about 2.79% of the shares outstanding. Vanguard 500 Index Fund bought 23820.0 shares to bring its total holdings to over 5.25 million shares at a value of $1.15 billion. Vanguard 500 Index Fund now owns shares totaling to 1.92% of the shares outstanding.
Shares of General Dynamics Corporation (NYSE: GD) opened at $212.04, down -$0.48 from a prior closing price of $212.52. However, the script later moved the day high at 212.04, down -2.62%. The company’s stock has a 5-day price change of -0.31% and -11.43% over the past three months. GD shares are trading -16.59% year to date (YTD), with the 12-month market performance down to -3.07% lower. It has a 12-month low price of $205.40 and touched a high of $256.86 over the same period. GD has an average intraday trading volume of 1.23 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -2.57%, -5.98%, and -11.11% respectively.
Institutional ownership of General Dynamics Corporation (NYSE: GD) shares accounts for 86.70% of the company’s 274.00M shares outstanding. Mutual fund holders own 38.89%, while other institutional holders and individual stakeholders account for 49.45% and 13.34% respectively.
It has a market capitalization of $56.85B and a beta (3y monthly) value of 0.83. The stock’s trailing 12-month PE ratio is 16.93, while the earnings-per-share (ttm) stands at $12.22. The company has a PEG of 1.55 and a Quick Ratio of 0.90 with the debt-to-equity ratio at 0.55. Price movements for the stock have been influenced by the stock’s volatility, which stands at 1.85% over the week and 1.70% over the month.
Analysts forecast that General Dynamics Corporation (GD) will achieve an EPS of $General Electric Company for the current quarter, $101.70 for the next quarter and $Stocks for Type. The lowest estimate earnings-per-share for the quarter is $General Motors Company while analysts give the company a high EPS estimate of $JD.com, Inc. Comparatively, EPS for the current quarter was $SPDR Gold Trust a year ago. Earnings per share for the fiscal year are expected to increase by 5.50%, and 16.81% over the next financial year. EPS should grow at an annualized rate of 10.90% over the next five years, compared to 4.10% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 25 brokerage firm advisors rate General Dynamics Corporation (GD) as a “Moderate Buy” at a consensus score of 2.00. Specifically, 16 Wall Street analysts polled rate the stock as a buy, while 6 of the 25 advise that investors “hold,” and 0 rated it as a “Sell.”
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