BTC Capital Management Inc. boosted its position in General Dynamics Corp. (NYSE:GD) by 2.7% during the second quarter, Holdings Channel reports. The institutional investor owned 22,355 shares of the company’s stock after buying an additional 594 shares during the period. BTC Capital Management Inc.’s holdings in General Dynamics Corp. were worth $3,110,000 as of its most recent SEC filing.
A number of other institutional investors have also recently added to or reduced their stakes in the company. Wellington Management Group LLP boosted its stake in shares of General Dynamics Corp. by 4.9% in the first quarter. Wellington Management Group LLP now owns 3,166,973 shares of the company’s stock worth $416,045,000 after buying an additional 147,072 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of General Dynamics Corp. by 2.5% in the first quarter. Geode Capital Management LLC now owns 2,603,362 shares of the company’s stock worth $341,383,000 after buying an additional 63,236 shares during the last quarter. Bank of Montreal Can bought a new stake in shares of General Dynamics Corp. during the second quarter worth about $203,640,000. Renaissance Technologies LLC boosted its stake in shares of General Dynamics Corp. by 45.5% in the first quarter. Renaissance Technologies LLC now owns 877,900 shares of the company’s stock worth $115,330,000 after buying an additional 274,600 shares during the last quarter. Finally, Royal Bank of Canada boosted its stake in shares of General Dynamics Corp. by 2.2% in the first quarter. Royal Bank of Canada now owns 824,808 shares of the company’s stock worth $108,356,000 after buying an additional 17,376 shares during the last quarter. Hedge funds and other institutional investors own 87.68% of the company’s stock.
Shares of General Dynamics Corp. (NYSE:GD) traded up 0.18% during mid-day trading on Wednesday, hitting $152.16. The stock had a trading volume of 217,302 shares. General Dynamics Corp. has a 1-year low of $121.61 and a 1-year high of $156.97. The company has a market capitalization of $46.33 billion, a P/E ratio of 16.18 and a beta of 0.76. The stock’s 50-day moving average price is $152.70 and its 200 day moving average price is $145.00.
General Dynamics Corp. (NYSE:GD) last released its quarterly earnings results on Wednesday, July 27th. The company reported $2.44 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.31 by $0.13. The business earned $7.66 billion during the quarter, compared to the consensus estimate of $7.88 billion. General Dynamics Corp. had a return on equity of 27.74% and a net margin of 9.53%. The firm’s quarterly revenue was down 2.8% on a year-over-year basis. During the same period in the previous year, the company posted $2.27 EPS. On average, analysts predict that General Dynamics Corp. will post $9.73 EPS for the current fiscal year.
The company 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 is Wednesday, October 5th. This represents a $3.04 annualized dividend and a yield of 2.00%. General Dynamics Corp.’s dividend payout ratio (DPR) is presently 32.27%.
GD has been the subject of several research reports. Citigroup Inc. increased their price objective on General Dynamics Corp. from $162.00 to $185.00 and gave the company a “buy” rating in a research report on Tuesday, September 6th. Deutsche Bank AG reissued a “hold” rating on shares of General Dynamics Corp. in a research report on Friday, September 23rd. Zacks Investment Research cut General Dynamics Corp. from a “buy” rating to a “hold” rating in a research report on Monday. Robert W. Baird initiated coverage on General Dynamics Corp. in a research report on Thursday, October 6th. They issued an “outperform” rating and a $181.00 price objective for the company. Finally, Vetr upgraded General Dynamics Corp. from a “hold” rating to a “strong-buy” rating and set a $169.96 target price for the company in a research note on Monday. Three research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. General Dynamics Corp. has an average rating of “Buy” and an average target price of $159.66.
In other news, insider S. Daniel Johnson sold 33,650 shares of the company’s stock in a transaction on Wednesday, August 3rd. The stock was sold at an average price of $147.91, for a total transaction of $4,977,171.50. Following the completion of the sale, the insider now directly owns 107,922 shares in the company, valued at approximately $15,962,743.02. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Gregory S. Gallopoulos sold 39,000 shares of the company’s stock in a transaction on Friday, July 29th. The shares were sold at an average price of $146.58, for a total value of $5,716,620.00. Following the sale, 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. 6.80% of the stock is 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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