Palo Capital Inc. raised its stake in shares of General Dynamics Corporation (NYSE:GD) by 1.4% during the second quarter, Holdings Channel reports. The firm owned 8,381 shares of the aerospace company’s stock after buying an additional 112 shares during the period. Palo Capital Inc.’s holdings in General Dynamics Corporation were worth $1,660,000 at the end of the most recent quarter.
Several other hedge funds have also bought and sold shares of GD. Quadrant Capital Group LLC raised its stake in General Dynamics Corporation by 0.7% in the first quarter. Quadrant Capital Group LLC now owns 608 shares of the aerospace company’s stock worth $108,000 after buying an additional 4 shares during the period. Ruggie Capital Group purchased a new stake in General Dynamics Corporation during the first quarter worth $119,000. Pinnacle Bank purchased a new stake in General Dynamics Corporation during the first quarter worth $126,000. Zions Bancorporation raised its stake in General Dynamics Corporation by 0.5% in the first quarter. Zions Bancorporation now owns 732 shares of the aerospace company’s stock worth $137,000 after buying an additional 4 shares during the period. Finally, Global X Management Co. LLC raised its stake in General Dynamics Corporation by 59.8% in the first quarter. Global X Management Co. LLC now owns 759 shares of the aerospace company’s stock worth $142,000 after buying an additional 284 shares during the period. 86.79% of the stock is currently owned by institutional investors.
Shares of General Dynamics Corporation (GD) traded down 0.50% during midday trading on Monday, reaching $200.14. 1,148,511 shares of the company’s stock traded hands. General Dynamics Corporation has a one year low of $140.87 and a one year high of $205.17. The company has a market capitalization of $60.40 billion, a price-to-earnings ratio of 20.07 and a beta of 0.72. The company has a 50-day moving average of $199.65 and a 200-day moving average of $188.69.
General Dynamics Corporation (NYSE:GD) last issued its earnings results on Wednesday, April 26th. The aerospace company reported $2.48 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.32 by $0.16. The firm had revenue of $7.44 billion during the quarter, compared to analyst estimates of $7.70 billion. General Dynamics Corporation had a net margin of 9.66% and a return on equity of 28.22%. The business’s revenue was down .5% on a year-over-year basis. During the same period in the previous year, the firm earned $2.08 earnings per share. Equities research analysts anticipate that General Dynamics Corporation will post $9.81 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, August 11th. Stockholders of record on Friday, July 7th will be paid a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a dividend yield of 1.67%. The ex-dividend date of this dividend is Wednesday, July 5th. General Dynamics Corporation’s dividend payout ratio is currently 34.60%.
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GD has been the topic of a number of analyst reports. Vetr raised shares of General Dynamics Corporation from a “sell” rating to a “hold” rating and set a $183.78 target price on the stock in a report on Tuesday, March 21st. ValuEngine raised shares of General Dynamics Corporation from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. Stifel Nicolaus upped their target price on shares of General Dynamics Corporation from $173.00 to $200.00 and gave the stock a “hold” rating in a report on Thursday, April 27th. Barclays PLC reaffirmed an “overweight” rating and set a $210.00 target price (up previously from $200.00) on shares of General Dynamics Corporation in a report on Monday, May 1st. Finally, Jefferies Group LLC reaffirmed a “buy” rating and set a $220.00 target price on shares of General Dynamics Corporation in a report on Friday, July 7th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $204.72.
In other news, VP Christopher Marzilli sold 43,890 shares of the business’s stock in a transaction on Tuesday, May 30th. The shares were sold at an average price of $201.37, for a total transaction of $8,838,129.30. Following the completion of the sale, the vice president now directly owns 107,857 shares of the company’s stock, valued at $21,719,164.09. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Lester L. Lyles sold 2,551 shares of the business’s stock in a transaction on Friday, May 19th. The shares were sold at an average price of $196.01, for a total transaction of $500,021.51. Following the sale, the director now directly owns 7,336 shares of the company’s stock, valued at $1,437,929.36. The disclosure for this sale can be found here. 6.70% of the stock is currently owned by insiders.
General Dynamics Corporation Company Profile
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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