MRP Capital Investments LLC raised its stake in shares of General Dynamics Co. (NYSE:GD – Free Report) by 61.8% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 550 shares of the aerospace company’s stock after purchasing an additional 210 shares during the period. MRP Capital Investments LLC’s holdings in General Dynamics were worth $126,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors have also recently made changes to their positions in GD. Markel Corp grew its stake in shares of General Dynamics by 0.9% in the 1st quarter. Markel Corp now owns 390,500 shares of the aerospace company’s stock worth $94,181,000 after buying an additional 3,500 shares in the last quarter. Moors & Cabot Inc. grew its position in General Dynamics by 13.2% in the first quarter. Moors & Cabot Inc. now owns 4,202 shares of the aerospace company’s stock worth $1,014,000 after acquiring an additional 490 shares in the last quarter. Zions Bancorporation N.A. increased its stake in General Dynamics by 294.2% during the first quarter. Zions Bancorporation N.A. now owns 540 shares of the aerospace company’s stock worth $130,000 after acquiring an additional 403 shares during the last quarter. Brown Brothers Harriman & Co. raised its position in General Dynamics by 791.6% during the first quarter. Brown Brothers Harriman & Co. now owns 1,275 shares of the aerospace company’s stock valued at $308,000 after purchasing an additional 1,132 shares during the period. Finally, NewEdge Advisors LLC lifted its stake in shares of General Dynamics by 51.6% in the 1st quarter. NewEdge Advisors LLC now owns 34,153 shares of the aerospace company’s stock valued at $8,237,000 after purchasing an additional 11,630 shares during the last quarter. Hedge funds and other institutional investors own 86.08% of the company’s stock.
Insider Buying and Selling
In other news, CEO Phebe N. Novakovic sold 33,230 shares of the business’s stock in a transaction on Friday, August 11th. The stock was sold at an average price of $227.96, for a total value of $7,575,110.80. Following the completion of the transaction, the chief executive officer now directly owns 778,092 shares of the company’s stock, valued at approximately $177,373,852.32. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, VP Gregory S. Gallopoulos sold 6,500 shares of the stock in a transaction on Friday, August 11th. The stock was sold at an average price of $225.83, for a total transaction of $1,467,895.00. Following the completion of the sale, the vice president now owns 113,319 shares in the company, valued at approximately $25,590,829.77. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Phebe N. Novakovic sold 33,230 shares of the business’s stock in a transaction on Friday, August 11th. The stock was sold at an average price of $227.96, for a total value of $7,575,110.80. Following the transaction, the chief executive officer now owns 778,092 shares in the company, valued at $177,373,852.32. The disclosure for this sale can be found here. Insiders sold 53,230 shares of company stock valued at $12,086,716 over the last 90 days. Corporate insiders own 1.50% of the company’s stock.
Analysts Set New Price Targets
General Dynamics Stock Down 0.0 %
Shares of GD stock traded down $0.08 during mid-day trading on Friday, hitting $226.56. The stock had a trading volume of 98,362 shares, compared to its average volume of 1,171,413. General Dynamics Co. has a 12-month low of $202.35 and a 12-month high of $256.86. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.39 and a quick ratio of 0.90. The firm’s 50-day moving average is $220.22 and its two-hundred day moving average is $220.16. The firm has a market capitalization of $61.86 billion, a P/E ratio of 18.61, a price-to-earnings-growth ratio of 2.00 and a beta of 0.83.
General Dynamics (NYSE:GD – Get Free Report) last released its quarterly earnings data on Wednesday, July 26th. The aerospace company reported $2.70 earnings per share for the quarter, topping analysts’ consensus estimates of $2.59 by $0.11. The company had revenue of $10.15 billion during the quarter, compared to analyst estimates of $9.45 billion. General Dynamics had a net margin of 8.24% and a return on equity of 18.01%. The firm’s revenue for the quarter was up 10.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.75 earnings per share. On average, analysts predict that General Dynamics Co. will post 12.64 earnings per share for the current fiscal year.
General Dynamics Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 10th. Investors of record on Friday, October 6th will be issued a dividend of $1.32 per share. This represents a $5.28 annualized dividend and a yield of 2.33%. The ex-dividend date of this dividend is Thursday, October 5th. General Dynamics’s payout ratio is 43.35%.
General Dynamics Company Profile
General Dynamics Corporation operates as an aerospace and defense company worldwide. It operates through four segments: Aerospace, Marine Systems, Combat Systems, and Technologies. The Aerospace segment produces and sells business jets; and offers aircraft maintenance and repair, management, aircraft-on-ground support and completion, charter, staffing, and fixed-base operator services.
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