Bernardo Wealth Planning LLC cut its stake in General Dynamics Co. (NYSE:GD) by 7.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,243 shares of the aerospace company’s stock after selling 173 shares during the quarter. Bernardo Wealth Planning LLC’s holdings in General Dynamics were worth $310,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. Legacy Capital Partners Inc. lifted its stake in General Dynamics by 0.4% in the 2nd quarter. Legacy Capital Partners Inc. now owns 17,095 shares of the aerospace company’s stock worth $2,555,000 after purchasing an additional 70 shares in the last quarter. Cornell Pochily Investment Advisors Inc. lifted its stake in General Dynamics by 4.3% in the 3rd quarter. Cornell Pochily Investment Advisors Inc. now owns 1,902 shares of the aerospace company’s stock worth $263,000 after purchasing an additional 79 shares in the last quarter. Carroll Financial Associates Inc. lifted its stake in General Dynamics by 6.8% in the 2nd quarter. Carroll Financial Associates Inc. now owns 1,279 shares of the aerospace company’s stock worth $191,000 after purchasing an additional 81 shares in the last quarter. Horizon Bancorp Inc. IN lifted its stake in General Dynamics by 7.6% in the 2nd quarter. Horizon Bancorp Inc. IN now owns 1,180 shares of the aerospace company’s stock worth $176,000 after purchasing an additional 83 shares in the last quarter. Finally, BBVA USA Bancshares Inc. lifted its stake in General Dynamics by 0.9% in the 2nd quarter. BBVA USA Bancshares Inc. now owns 8,966 shares of the aerospace company’s stock worth $1,340,000 after purchasing an additional 84 shares in the last quarter. 84.98% of the stock is currently owned by hedge funds and other institutional investors.
Shares of GD opened at $138.48 on Monday. General Dynamics Co. has a 1-year low of $100.55 and a 1-year high of $190.08. The stock has a market cap of $40.37 billion, a PE ratio of 12.50, a price-to-earnings-growth ratio of 2.42 and a beta of 1.02. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.27 and a quick ratio of 0.87. The firm has a fifty day moving average price of $142.89 and a 200 day moving average price of $144.33.
General Dynamics (NYSE:GD) last announced its quarterly earnings results on Wednesday, July 29th. The aerospace company reported $2.18 earnings per share 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 firm had revenue of $9.26 billion during the quarter, compared to analysts’ expectations of $9.03 billion. During the same period in the previous year, the company earned $2.77 earnings per share. General Dynamics’s quarterly revenue was down 3.0% compared to the same quarter last year. As a group, equities analysts expect that General Dynamics Co. will post 11.04 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Friday, October 9th will be given a $1.10 dividend. The ex-dividend date is Thursday, October 8th. This represents a $4.40 dividend on an annualized basis and a yield of 3.18%. General Dynamics’s dividend payout ratio (DPR) is presently 36.73%.
A number of analysts have recently issued reports on GD shares. Royal Bank of Canada raised their price target on shares of General Dynamics from $157.00 to $164.00 and gave the stock an “outperform” rating in a report on Thursday, July 30th. Jefferies Financial Group reiterated a “hold” rating and issued a $160.00 target price on shares of General Dynamics in a report on Tuesday, August 11th. Stifel Nicolaus dropped their target price on shares of General Dynamics from $180.00 to $160.00 and set a “hold” rating for the company in a report on Thursday, July 30th. ValuEngine downgraded shares of General Dynamics from a “hold” rating to a “sell” rating in a report on Monday, August 3rd. Finally, TheStreet downgraded shares of General Dynamics from a “b-” rating to a “c+” rating in a report on Thursday, July 9th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $173.19.
In related news, VP William A. Moss sold 4,778 shares of the business’s stock in a transaction on Thursday, September 24th. The shares were sold at an average price of $136.68, for a total value of $653,057.04. Following the completion of the sale, the vice president now directly owns 12,241 shares of the company’s stock, valued at $1,673,099.88. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 6.60% of the stock is owned by insiders.
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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