ING Groep NV increased its position in General Dynamics Corp. (NYSE:GD) by 50.8% during the second quarter, Holdings Channel reports. The fund owned 10,176 shares of the company’s stock after buying an additional 3,430 shares during the period. ING Groep NV’s holdings in General Dynamics Corp. were worth $1,417,000 at the end of the most recent reporting period.
A number of other large investors also recently bought and sold shares of GD. RS Investment Management Co. LLC bought a new stake in General Dynamics Corp. during the second quarter worth approximately $23,540,000. Edgar Lomax Co. VA boosted its stake in General Dynamics Corp. by 10.6% in the first quarter. Edgar Lomax Co. VA now owns 269,200 shares of the company’s stock worth $35,365,000 after buying an additional 25,900 shares during the last quarter. AMP Capital Investors Ltd boosted its stake in General Dynamics Corp. by 2.2% in the first quarter. AMP Capital Investors Ltd now owns 192,930 shares of the company’s stock worth $25,415,000 after buying an additional 4,170 shares during the last quarter. Nisa Investment Advisors LLC boosted its stake in General Dynamics Corp. by 2.8% in the second quarter. Nisa Investment Advisors LLC now owns 120,102 shares of the company’s stock worth $16,723,000 after buying an additional 3,230 shares during the last quarter. Finally, Origin Asset Management LLP boosted its stake in General Dynamics Corp. by 18.4% in the first quarter. Origin Asset Management LLP now owns 224,331 shares of the company’s stock worth $29,470,000 after buying an additional 34,837 shares during the last quarter. Institutional investors and hedge funds own 87.68% of the company’s stock.
General Dynamics Corp. (NYSE:GD) traded up 0.27% during mid-day trading on Thursday, hitting $154.14. 1,685,100 shares of the stock traded hands. The company’s 50 day moving average price is $152.94 and its 200-day moving average price is $143.83. The stock 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. has a 1-year low of $121.61 and a 1-year high of $156.97.
General Dynamics Corp. (NYSE:GD) last issued its quarterly earnings results on Wednesday, July 27th. The company reported $2.44 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.31 by $0.13. The company earned $7.66 billion during the quarter, compared to analyst estimates of $7.88 billion. General Dynamics Corp. had a net margin of 9.53% and a return on equity of 27.74%. General Dynamics Corp.’s quarterly revenue was down 2.8% compared to the same quarter last year. During the same period last year, the business earned $2.27 EPS. Analysts predict that General Dynamics Corp. will post $9.73 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 10th. Investors of record on Friday, October 7th will be paid a $0.76 dividend. The ex-dividend date of this dividend is Wednesday, October 5th. This represents a $3.04 annualized dividend and a dividend yield of 1.97%. General Dynamics Corp.’s payout ratio is 32.27%.
GD has been the subject of a number of research reports. Citigroup Inc. raised their price target on shares of General Dynamics Corp. from $162.00 to $185.00 and gave the stock a “buy” rating in a report on Tuesday, September 6th. Deutsche Bank AG restated a “hold” rating on shares of General Dynamics Corp. in a report on Friday, September 23rd. 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 report on Wednesday, August 10th. They noted that the move was a valuation call. Jefferies Group reiterated a “buy” rating and set a $167.00 price objective on shares of General Dynamics Corp. in a report on Thursday, July 28th. Finally, Zacks Investment Research upgraded shares of General Dynamics Corp. from a “hold” rating to a “buy” rating and set a $159.00 price objective for the company in a report on Monday, July 18th. Two equities research 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 an average target price of $159.27.
In related news, VP Gregory S. Gallopoulos sold 39,000 shares of the stock in a transaction dated Friday, July 29th. The shares were sold at an average price of $146.58, for a total transaction of $5,716,620.00. Following the sale, the vice president now directly owns 153,848 shares of the company’s stock, valued at approximately $22,551,039.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John Patrick Casey sold 57,490 shares of the stock in a transaction dated Thursday, August 4th. The shares were sold at an average price of $146.96, for a total transaction of $8,448,730.40. Following the sale, the insider now directly owns 165,118 shares in the company, valued at $24,265,741.28. The disclosure for this sale can be found here. 6.80% of the stock is currently owned by corporate insiders.
About General Dynamics Corp.
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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