Advisory Services Network LLC boosted its position in shares of General Dynamics Corp. (NYSE:GD) by 1.0% during the second quarter, Holdings Channel reports. The institutional investor owned 3,551 shares of the company’s stock after buying an additional 34 shares during the period. Advisory Services Network LLC’s holdings in General Dynamics Corp. were worth $494,000 at the end of the most recent reporting period.
Several other hedge funds have also recently bought and sold shares of the stock. Sun Life Financial INC purchased a new stake in General Dynamics Corp. during the first quarter worth about $106,147,000. First New York Securities LLC NY purchased a new stake in General Dynamics Corp. during the second quarter worth about $139,000. Carroll Financial Associates Inc. raised its stake in General Dynamics Corp. by 3.2% in the second quarter. Carroll Financial Associates Inc. now owns 1,283 shares of the company’s stock worth $178,000 after buying an additional 40 shares in the last quarter. Ariel Capital Advisors LLC purchased a new stake in General Dynamics Corp. during the second quarter worth about $207,000. Finally, Brookstone Capital Management purchased a new stake in General Dynamics Corp. during the second quarter worth about $233,000. Institutional investors own 87.68% of the company’s stock.
Shares of General Dynamics Corp. (NYSE:GD) traded up 0.27% during trading on Thursday, hitting $154.14. 1,685,100 shares of the stock traded hands. The firm’s 50-day moving average price is $152.91 and its 200-day moving average price is $143.76. General Dynamics Corp. has a 52 week low of $121.61 and a 52 week high of $156.97. The company has a market cap of $46.93 billion, a price-to-earnings ratio of 16.39 and a beta of 0.76.
General Dynamics Corp. (NYSE:GD) last announced its earnings results on Wednesday, July 27th. The company reported $2.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.31 by $0.13. The firm earned $7.66 billion during the quarter, compared to analysts’ expectations of $7.88 billion. General Dynamics Corp. had a return on equity of 27.74% and a net margin of 9.53%. The company’s revenue was down 2.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.27 earnings per share. On average, equities research analysts anticipate that General Dynamics Corp. will post $9.73 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, November 10th. Shareholders of record on Friday, October 7th will be given a dividend of $0.76 per share. The ex-dividend date is Wednesday, October 5th. This represents a $3.04 dividend on an annualized basis and a yield of 1.97%. General Dynamics Corp.’s payout ratio is currently 32.27%.
A number of research firms have recently issued reports on GD. Robert W. Baird began coverage on shares of General Dynamics Corp. in a research note on Thursday. They set an “outperform” rating and a $181.00 price objective on the stock. Jefferies Group restated a “buy” rating and issued a $167.00 price target on shares of General Dynamics Corp. in a research note on Thursday, July 28th. Deutsche Bank AG restated a “hold” rating on shares of General Dynamics Corp. in a research note on Friday, September 23rd. Argus lifted their price target on shares of General Dynamics Corp. from $160.00 to $165.00 and gave the stock a “buy” rating in a research note on Tuesday, August 2nd. Finally, Sanford C. Bernstein upgraded shares of General Dynamics Corp. from a “market perform” rating to an “outperform” rating and set a $180.00 price target for the company in a research note on Wednesday, August 10th. They noted that the move was a valuation call. Two investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $159.27.
In other news, insider Robert W. Helm sold 87,790 shares of the company’s stock in a transaction that occurred on Monday, September 12th. The stock was sold at an average price of $150.91, for a total transaction of $13,248,388.90. Following the completion of the transaction, the insider now directly owns 157,176 shares in the company, valued at $23,719,430.16. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Gregory S. Gallopoulos sold 39,000 shares of the company’s stock in a transaction that occurred on Friday, July 29th. The stock was sold at an average price of $146.58, for a total value of $5,716,620.00. Following the transaction, the vice president now owns 153,848 shares of the company’s stock, valued at $22,551,039.84. The disclosure for this sale can be found here. Company insiders own 6.80% of the company’s stock.
General Dynamics Corp. Company Profile
General Dynamics Corporation is an aerospace and defense company that offers a portfolio of products and services in business aviation; combat vehicles, weapons systems and munitions; command, control, communications, computers, intelligence, surveillance and reconnaissance (C4ISR) solutions and information technology (IT) services, and shipbuilding.
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