Hyman Charles D increased its position in General Dynamics Co. (NYSE:GD) by 2.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,650 shares of the aerospace company’s stock after buying an additional 100 shares during the quarter. Hyman Charles D’s holdings in General Dynamics were worth $845,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors have also recently added to or reduced their stakes in the company. Bank of The West raised its holdings in shares of General Dynamics by 16.0% during the 2nd quarter. Bank of The West now owns 24,024 shares of the aerospace company’s stock valued at $4,368,000 after buying an additional 3,319 shares in the last quarter. Virtu Financial LLC raised its stake in shares of General Dynamics by 63.0% in the first quarter. Virtu Financial LLC now owns 8,155 shares of the aerospace company’s stock worth $1,380,000 after purchasing an additional 3,151 shares during the last quarter. Weiss Asset Management LP purchased a new stake in General Dynamics during the first quarter valued at $205,000. Primecap Management Co. CA increased its position in General Dynamics by 0.4% during the first quarter. Primecap Management Co. CA now owns 700,990 shares of the aerospace company’s stock valued at $118,664,000 after acquiring an additional 3,000 shares during the last quarter. Finally, Somerset Trust Co increased its position in General Dynamics by 0.5% during the first quarter. Somerset Trust Co now owns 13,039 shares of the aerospace company’s stock valued at $2,208,000 after acquiring an additional 69 shares during the last quarter. 86.73% of the stock is owned by institutional investors.
GD stock traded down $1.46 during midday trading on Friday, reaching $181.97. 941,611 shares of the company traded hands, compared to its average volume of 1,111,695. General Dynamics Co. has a 52-week low of $143.87 and a 52-week high of $207.72. The company has a quick ratio of 0.73, a current ratio of 1.09 and a debt-to-equity ratio of 0.70. The stock’s 50 day simple moving average is $181.85. The firm has a market cap of $52.98 billion, a price-to-earnings ratio of 15.93, a price-to-earnings-growth ratio of 1.78 and a beta of 1.21.
General Dynamics (NYSE:GD) last issued its quarterly earnings data on Wednesday, July 24th. The aerospace company reported $2.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.68 by $0.09. General Dynamics had a return on equity of 26.81% and a net margin of 8.65%. The business had revenue of $9.56 billion for the quarter, compared to the consensus estimate of $9.36 billion. During the same period in the prior year, the business posted $2.82 earnings per share. The company’s quarterly revenue was up 4.0% compared to the same quarter last year. As a group, equities research analysts forecast that General Dynamics Co. will post 11.83 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 9th. Shareholders of record on Friday, July 5th will be given a dividend of $1.02 per share. The ex-dividend date is Wednesday, July 3rd. This represents a $4.08 dividend on an annualized basis and a yield of 2.24%. General Dynamics’s dividend payout ratio (DPR) is presently 35.73%.
In other General Dynamics news, VP Gary L. Whited sold 14,029 shares of the company’s stock in a transaction that occurred on Tuesday, July 30th. The stock was sold at an average price of $188.38, for a total transaction of $2,642,783.02. Following the sale, the vice president now directly owns 37,542 shares in the company, valued at $7,072,161.96. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 7.10% of the company’s stock.
A number of research firms have recently weighed in on GD. Morgan Stanley upped their price objective on General Dynamics from $170.00 to $171.00 and gave the stock an “underweight” rating in a research note on Friday, June 14th. Goldman Sachs Group raised General Dynamics from a “neutral” rating to a “buy” rating and set a $204.00 price target for the company in a research note on Sunday, May 19th. Robert W. Baird increased their price target on General Dynamics from $188.00 to $218.00 and gave the company an “outperform” rating in a research note on Wednesday, July 10th. ValuEngine raised General Dynamics from a “sell” rating to a “hold” rating in a research note on Thursday, June 6th. Finally, UBS Group increased their price target on General Dynamics from $175.00 to $190.00 and gave the company a “neutral” rating in a research note on Thursday, April 25th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and seven have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $191.35.
General Dynamics Profile
General Dynamics Corporation operates as an aerospace and defense company worldwide. It operates in five segments: Aerospace, Combat Systems, Information Technology, Mission Systems, and Marine Systems. The Aerospace segment designs, manufactures, and supports business-jet aircraft; and offers business-aviation services, including maintenance, fixed-base operation, government fleet, aircraft management, charter, and staffing services, as well as integrated aviation solutions.
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