Scotia Capital Inc. boosted its stake in shares of General Dynamics Corporation (NYSE:GD) by 8.8% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 41,759 shares of the aerospace company’s stock after purchasing an additional 3,379 shares during the quarter. Scotia Capital Inc.’s holdings in General Dynamics Corporation were worth $8,272,000 at the end of the most recent reporting period.
A number of other large investors also recently added to or reduced their stakes in GD. Quadrant Capital Group LLC boosted its position in General Dynamics Corporation by 6.1% during the 2nd quarter. Quadrant Capital Group LLC now owns 645 shares of the aerospace company’s stock worth $110,000 after acquiring an additional 37 shares during the period. Vantage Investment Advisors LLC boosted its position in General Dynamics Corporation by 9.3% during the 2nd quarter. Vantage Investment Advisors LLC now owns 585 shares of the aerospace company’s stock worth $116,000 after acquiring an additional 50 shares during the period. Ruggie Capital Group acquired a new position in General Dynamics Corporation during the 1st quarter worth $119,000. Captrust Financial Advisors acquired a new position in General Dynamics Corporation during the 2nd quarter worth $129,000. Finally, Zions Bancorporation boosted its position in General Dynamics Corporation by 0.5% during the 1st quarter. Zions Bancorporation now owns 732 shares of the aerospace company’s stock worth $137,000 after acquiring an additional 4 shares during the period. Institutional investors and hedge funds own 86.10% of the company’s stock.
A number of research analysts have issued reports on the company. Zacks Investment Research lowered General Dynamics Corporation from a “buy” rating to a “hold” rating in a research report on Monday, October 16th. Citigroup Inc restated a “neutral” rating and issued a $215.00 price objective (up previously from $210.00) on shares of General Dynamics Corporation in a report on Monday, October 9th. ValuEngine lowered General Dynamics Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, October 3rd. Cowen and Company restated a “buy” rating and issued a $230.00 price objective on shares of General Dynamics Corporation in a report on Thursday, October 19th. Finally, Stifel Nicolaus upped their price objective on General Dynamics Corporation from $200.00 to $210.00 and gave the company a “hold” rating in a report on Thursday. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and twelve have assigned a buy rating to the company. General Dynamics Corporation has an average rating of “Buy” and a consensus price target of $214.61.
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General Dynamics Corporation (GD) traded down 1.52% during mid-day trading on Thursday, hitting $204.09. The stock had a trading volume of 978,796 shares. General Dynamics Corporation has a 52 week low of $148.76 and a 52 week high of $214.81. The company has a market capitalization of $61.18 billion, a P/E ratio of 20.16 and a beta of 0.72. The stock’s 50-day moving average is $206.87 and its 200 day moving average is $200.32.
General Dynamics Corporation (NYSE:GD) last posted its quarterly earnings results on Wednesday, October 25th. The aerospace company reported $2.52 EPS for the quarter, topping analysts’ consensus estimates of $2.43 by $0.09. General Dynamics Corporation had a return on equity of 28.17% and a net margin of 9.63%. The business had revenue of $7.58 billion during the quarter, compared to analysts’ expectations of $7.94 billion. During the same quarter last year, the company posted $2.36 earnings per share. General Dynamics Corporation’s quarterly revenue was down 1.0% on a year-over-year basis. Equities analysts forecast that General Dynamics Corporation will post $9.81 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, November 10th. Investors of record on Friday, October 6th will be issued a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a yield of 1.62%. The ex-dividend date of this dividend is Thursday, October 5th. General Dynamics Corporation’s payout ratio is currently 34.57%.
About General Dynamics Corporation
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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