Strategic Advisors LLC cut its position in General Dynamics Co. (NYSE:GD) by 11.1% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 3,521 shares of the aerospace company’s stock after selling 438 shares during the quarter. Strategic Advisors LLC’s holdings in General Dynamics were worth $656,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. CX Institutional acquired a new stake in shares of General Dynamics during the second quarter worth $107,000. Dubuque Bank & Trust Co. raised its holdings in shares of General Dynamics by 230.7% during the first quarter. Dubuque Bank & Trust Co. now owns 496 shares of the aerospace company’s stock worth $109,000 after acquiring an additional 346 shares during the period. James Investment Research Inc. acquired a new stake in shares of General Dynamics during the second quarter worth $112,000. BerganKDV Wealth Management LLC acquired a new stake in shares of General Dynamics during the second quarter worth $114,000. Finally, Kaizen Advisory LLC raised its holdings in shares of General Dynamics by 157.9% during the second quarter. Kaizen Advisory LLC now owns 686 shares of the aerospace company’s stock worth $128,000 after acquiring an additional 420 shares during the period. Institutional investors own 85.88% of the company’s stock.
In related news, insider John Patrick Casey sold 22,500 shares of the firm’s stock in a transaction on Monday, July 16th. The shares were sold at an average price of $191.99, for a total value of $4,319,775.00. Following the completion of the transaction, the insider now owns 118,555 shares of the company’s stock, valued at $22,761,374.45. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 6.90% of the stock is currently owned by company insiders.
A number of equities research analysts recently commented on GD shares. Credit Suisse Group raised their price objective on shares of General Dynamics from $224.00 to $229.00 and gave the stock an “outperform” rating in a report on Thursday. Morgan Stanley dropped their price objective on shares of General Dynamics from $225.00 to $217.00 and set an “underweight” rating on the stock in a report on Thursday, April 12th. Cowen restated a “buy” rating and set a $253.00 price objective on shares of General Dynamics in a report on Monday, April 9th. ValuEngine upgraded shares of General Dynamics from a “sell” rating to a “hold” rating in a report on Saturday. Finally, Zacks Investment Research lowered shares of General Dynamics from a “hold” rating to a “sell” rating in a report on Tuesday, June 26th. Three research analysts have rated the stock with a sell rating, five have given a hold rating and ten have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $240.88.
General Dynamics stock traded down $2.38 during mid-day trading on Monday, reaching $196.27. The company’s stock had a trading volume of 60,797 shares, compared to its average volume of 1,397,209. The company has a market cap of $59.01 billion, a P/E ratio of 19.75, a price-to-earnings-growth ratio of 1.61 and a beta of 0.85. General Dynamics Co. has a 12 month low of $184.21 and a 12 month high of $230.00. The company has a current ratio of 1.20, a quick ratio of 0.84 and a debt-to-equity ratio of 0.95.
General Dynamics (NYSE:GD) last released its earnings results on Wednesday, July 25th. The aerospace company reported $2.82 earnings per share for the quarter, beating analysts’ consensus estimates of $2.49 by $0.33. The business had revenue of $9.19 billion during the quarter, compared to the consensus estimate of $9.09 billion. General Dynamics had a net margin of 9.16% and a return on equity of 27.06%. The firm’s revenue for the quarter was up 19.7% compared to the same quarter last year. During the same quarter last year, the firm earned $2.45 earnings per share. equities research analysts forecast that General Dynamics Co. will post 11.09 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, August 10th. Investors of record on Friday, July 6th will be given a $0.93 dividend. This represents a $3.72 dividend on an annualized basis and a yield of 1.90%. The ex-dividend date of this dividend is Thursday, July 5th. General Dynamics’s dividend payout ratio (DPR) is currently 37.39%.
General Dynamics Company Profile
General Dynamics Corporation operates as an aerospace and defense company worldwide. It operates through four business groups: Aerospace; Combat Systems; Information Systems and Technology; and Marine Systems. The Aerospace group designs, develops, manufactures, service and supports business-jet aircraft; and provides aircraft services, such as maintenance, aircraft management, charter, fixed-base operational, and staffing services.
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