Iberiabank Corp reduced its position in General Dynamics Co. (NYSE:GD) by 89.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,152 shares of the aerospace company’s stock after selling 18,168 shares during the period. Iberiabank Corp’s holdings in General Dynamics were worth $322,000 at the end of the most recent quarter.
A number of other large investors have also recently bought and sold shares of the business. Quadrant Capital Group LLC boosted its stake in General Dynamics by 19.1% in the 4th quarter. Quadrant Capital Group LLC now owns 1,435 shares of the aerospace company’s stock worth $244,000 after purchasing an additional 230 shares during the period. Verus Capital Partners LLC acquired a new position in General Dynamics in the 4th quarter worth approximately $49,000. Macquarie Group Ltd. boosted its stake in General Dynamics by 211.2% in the 4th quarter. Macquarie Group Ltd. now owns 27,696 shares of the aerospace company’s stock worth $4,884,000 after purchasing an additional 18,796 shares during the period. TFG Advisers LLC acquired a new position in General Dynamics in the 4th quarter worth approximately $66,000. Finally, Gantzert Investment Co. LLC ADV boosted its stake in General Dynamics by 28.7% in the 1st quarter. Gantzert Investment Co. LLC ADV now owns 26,665 shares of the aerospace company’s stock worth $3,528,000 after purchasing an additional 5,945 shares during the period. 85.57% of the stock is owned by institutional investors.
General Dynamics stock opened at $146.74 on Friday. The company has a market capitalization of $42.70 billion, a P/E ratio of 13.03, a P/E/G ratio of 2.50 and a beta of 1.05. The firm’s fifty day simple moving average is $148.68 and its 200-day simple moving average is $151.85. The company has a current ratio of 1.27, a quick ratio of 0.97 and a debt-to-equity ratio of 0.75. General Dynamics Co. has a 1-year low of $100.55 and a 1-year high of $193.76.
General Dynamics (NYSE:GD) last posted its earnings results on Wednesday, July 29th. The aerospace company reported $2.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.15 by $0.03. General Dynamics had a net margin of 8.47% and a return on equity of 24.10%. The business had revenue of $9.26 billion for the quarter, compared to analyst estimates of $9.03 billion. During the same period last year, the business posted $2.77 EPS. General Dynamics’s revenue was down 3.0% compared to the same quarter last year. On average, equities research analysts predict that General Dynamics Co. will post 11.1 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, August 7th. Investors of record on Friday, July 3rd will be paid a $1.10 dividend. The ex-dividend date is Wednesday, July 1st. This represents a $4.40 dividend on an annualized basis and a yield of 3.00%. General Dynamics’s payout ratio is presently 36.73%.
A number of equities analysts recently commented on GD shares. Morgan Stanley raised their price objective on shares of General Dynamics from $146.00 to $151.00 and gave the stock an “underweight” rating in a research note on Tuesday, April 14th. Seaport Global Securities assumed coverage on shares of General Dynamics in a research report on Tuesday, May 19th. They issued a “buy” rating and a $188.00 target price for the company. UBS Group cut their target price on shares of General Dynamics from $190.00 to $171.00 and set a “neutral” rating for the company in a research report on Thursday, June 11th. Argus cut their target price on shares of General Dynamics from $199.00 to $155.00 and set a “buy” rating for the company in a research report on Wednesday, May 6th. Finally, Citigroup upgraded shares of General Dynamics from a “neutral” rating to a “buy” rating and cut their target price for the stock from $185.00 to $170.00 in a research report on Monday, April 20th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and ten have given a buy rating to the stock. General Dynamics currently has a consensus rating of “Buy” and an average price target of $183.57.
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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