Tompkins Financial Corp decreased its stake in General Dynamics Co. (NYSE:GD – Free Report) by 3.0% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 21,234 shares of the aerospace company’s stock after selling 653 shares during the period. Tompkins Financial Corp’s holdings in General Dynamics were worth $4,568,000 at the end of the most recent reporting period.
Several other large investors have also modified their holdings of GD. Certified Advisory Corp acquired a new stake in General Dynamics during the 1st quarter worth $25,000. Pacifica Partners Inc. boosted its stake in General Dynamics by 833.3% during the 1st quarter. Pacifica Partners Inc. now owns 112 shares of the aerospace company’s stock worth $26,000 after purchasing an additional 100 shares during the period. Guardian Wealth Advisors LLC acquired a new stake in shares of General Dynamics in the 1st quarter worth $28,000. Live Oak Investment Partners acquired a new stake in shares of General Dynamics in the 4th quarter worth $30,000. Finally, Princeton Global Asset Management LLC acquired a new stake in shares of General Dynamics in the 1st quarter worth $31,000. Institutional investors and hedge funds own 86.08% of the company’s stock.
Wall Street Analyst Weigh In
GD has been the subject of several recent analyst reports. StockNews.com initiated coverage on shares of General Dynamics in a research note on Thursday, August 17th. They issued a “buy” rating for the company. Citigroup restated a “buy” rating and issued a $283.00 target price on shares of General Dynamics in a research note on Tuesday. Morgan Stanley raised their target price on shares of General Dynamics from $248.00 to $250.00 in a research note on Thursday, July 27th. Finally, Wells Fargo & Company cut their price target on shares of General Dynamics from $258.00 to $243.00 and set an “overweight” rating for the company in a report on Monday. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $261.23.
Insider Buying and Selling
In related news, CEO Phebe N. Novakovic sold 33,230 shares of the firm’s stock in a transaction that occurred on Friday, August 11th. The shares were sold at an average price of $227.96, for a total value of $7,575,110.80. Following the sale, the chief executive officer now directly owns 778,092 shares of the company’s stock, valued at $177,373,852.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other General Dynamics news, VP Gregory S. Gallopoulos sold 6,500 shares of General Dynamics stock in a transaction that occurred on Friday, August 11th. The shares were sold at an average price of $225.83, for a total transaction of $1,467,895.00. Following the transaction, the vice president now directly owns 113,319 shares of the company’s stock, valued at $25,590,829.77. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Phebe N. Novakovic sold 33,230 shares of General Dynamics stock in a transaction that occurred on Friday, August 11th. The shares were sold at an average price of $227.96, for a total transaction of $7,575,110.80. Following the transaction, the chief executive officer now directly owns 778,092 shares in the company, valued at $177,373,852.32. The disclosure for this sale can be found here. Over the last three months, insiders have sold 53,230 shares of company stock valued at $12,086,716. Insiders own 1.50% of the company’s stock.
General Dynamics Price Performance
NYSE:GD traded up $0.23 during mid-day trading on Tuesday, hitting $224.56. 178,252 shares of the company’s stock traded hands, compared to its average volume of 1,164,859. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.90 and a current ratio of 1.39. The firm’s 50 day simple moving average is $221.77 and its 200 day simple moving average is $219.13. General Dynamics Co. has a 1 year low of $202.35 and a 1 year high of $256.86. The company has a market cap of $61.31 billion, a PE ratio of 18.43, a price-to-earnings-growth ratio of 1.99 and a beta of 0.84.
General Dynamics (NYSE:GD – Get Free Report) last posted its earnings results on Wednesday, July 26th. The aerospace company reported $2.70 earnings per share for the quarter, beating the consensus estimate of $2.59 by $0.11. General Dynamics had a net margin of 8.24% and a return on equity of 18.01%. The firm had revenue of $10.15 billion during the quarter, compared to the consensus estimate of $9.45 billion. During the same period last year, the firm posted $2.75 EPS. The firm’s revenue for the quarter was up 10.5% on a year-over-year basis. Sell-side analysts expect that General Dynamics Co. will post 12.64 EPS for the current year.
General Dynamics Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, November 10th. Investors of record on Friday, October 6th will be given a $1.32 dividend. The ex-dividend date of this dividend is Thursday, October 5th. This represents a $5.28 annualized dividend and a dividend yield of 2.35%. General Dynamics’s dividend payout ratio is presently 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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