Traynor Capital Management Inc. cut its position in shares of General Dynamics Co. (NYSE:GD) by 4.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,602 shares of the aerospace company’s stock after selling 452 shares during the period. Traynor Capital Management Inc.’s holdings in General Dynamics were worth $1,752,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in GD. Ellis Investment Partners LLC raised its position in shares of General Dynamics by 16,833.7% in the 1st quarter. Ellis Investment Partners LLC now owns 960,820 shares of the aerospace company’s stock valued at $960,000 after buying an additional 955,146 shares in the last quarter. Thoroughbred Financial Services LLC raised its holdings in shares of General Dynamics by 18,507.6% in the second quarter. Thoroughbred Financial Services LLC now owns 926,285 shares of the aerospace company’s stock valued at $92,628,000 after purchasing an additional 921,307 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec raised its holdings in shares of General Dynamics by 8.1% in the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 3,365,297 shares of the aerospace company’s stock valued at $569,677,000 after purchasing an additional 252,900 shares during the last quarter. Longview Asset Management LLC raised its holdings in shares of General Dynamics by 0.7% in the first quarter. Longview Asset Management LLC now owns 32,898,410 shares of the aerospace company’s stock valued at $5,569,043,000 after purchasing an additional 215,179 shares during the last quarter. Finally, Conning Inc. raised its holdings in shares of General Dynamics by 2,626.5% in the second quarter. Conning Inc. now owns 210,949 shares of the aerospace company’s stock valued at $38,355,000 after purchasing an additional 203,212 shares during the last quarter. Institutional investors own 86.79% of the company’s stock.
Several analysts have recently commented on GD shares. Morgan Stanley increased their target price on shares of General Dynamics from $170.00 to $171.00 and gave the company an “underweight” rating in a report on Friday, June 14th. Zacks Investment Research upgraded shares of General Dynamics from a “hold” rating to a “buy” rating and set a $171.00 target price for the company in a report on Monday, June 3rd. Cowen reiterated a “buy” rating and issued a $202.00 target price on shares of General Dynamics in a report on Wednesday, April 24th. UBS Group raised their price objective on shares of General Dynamics from $175.00 to $190.00 and gave the stock a “neutral” rating in a report on Thursday, April 25th. Finally, ValuEngine upgraded shares of General Dynamics from a “sell” rating to a “hold” rating in a report on Thursday, June 6th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and seven have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $191.35.
In other news, Director William A. Osborn sold 1,500 shares of the company’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $182.56, for a total transaction of $273,840.00. Following the completion of the sale, the director now owns 37,585 shares of the company’s stock, valued at approximately $6,861,517.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Gary L. Whited sold 14,029 shares of the company’s stock in a transaction dated Tuesday, July 30th. The shares were sold at an average price of $188.38, for a total transaction of $2,642,783.02. Following the sale, the vice president now directly owns 37,542 shares of the company’s stock, valued at approximately $7,072,161.96. The disclosure for this sale can be found here. 7.10% of the stock is owned by corporate insiders.
General Dynamics stock traded up $0.56 during mid-day trading on Wednesday, reaching $181.23. The stock had a trading volume of 397,197 shares, compared to its average volume of 1,134,690. General Dynamics Co. has a one year low of $143.87 and a one year high of $207.72. The company’s 50-day moving average price is $182.55. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.09 and a quick ratio of 0.73. The firm has a market cap of $51.69 billion, a P/E ratio of 15.87, a price-to-earnings-growth ratio of 1.76 and a beta of 1.21.
General Dynamics (NYSE:GD) last issued its earnings results on Wednesday, July 24th. The aerospace company reported $2.77 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.68 by $0.09. General Dynamics had a return on equity of 26.81% and a net margin of 8.65%. The business had revenue of $9.56 billion during the quarter, compared to analyst estimates of $9.36 billion. During the same quarter in the previous year, the firm earned $2.82 EPS. General Dynamics’s revenue was up 4.0% on a year-over-year basis. On average, analysts forecast that General Dynamics Co. will post 11.83 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, August 9th. Stockholders of record on Friday, July 5th will be given a dividend of $1.02 per share. This represents a $4.08 annualized dividend and a dividend yield of 2.25%. The ex-dividend date is Wednesday, July 3rd. General Dynamics’s payout ratio is currently 35.73%.
General Dynamics Company Profile
General Dynamics Corporation operates as an aerospace and defense company worldwide. It operates in five segments: Aerospace, Combat Systems, Information Technology, Mission Systems, and Marine Systems. The Aerospace segment designs, manufactures, and supports business-jet aircraft; and offers business-aviation services, including maintenance, fixed-base operation, government fleet, aircraft management, charter, and staffing services, as well as integrated aviation solutions.
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