Symphony Financial Ltd. Co. reduced its stake in General Dynamics Co. (NYSE:GD – Free Report) by 5.8% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,675 shares of the aerospace company’s stock after selling 286 shares during the period. Symphony Financial Ltd. Co.’s holdings in General Dynamics were worth $1,002,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Keel Point LLC increased its stake in General Dynamics by 9.0% during the second quarter. Keel Point LLC now owns 1,046 shares of the aerospace company’s stock worth $225,000 after purchasing an additional 86 shares during the period. Sage Capital Advisors llc increased its stake in General Dynamics by 6.4% during the second quarter. Sage Capital Advisors llc now owns 17,866 shares of the aerospace company’s stock worth $3,844,000 after purchasing an additional 1,074 shares during the period. Herbst Group LLC increased its stake in General Dynamics by 3.3% during the second quarter. Herbst Group LLC now owns 12,350 shares of the aerospace company’s stock worth $2,657,000 after purchasing an additional 400 shares during the period. Weybosset Research & Management LLC grew its position in shares of General Dynamics by 1.0% during the second quarter. Weybosset Research & Management LLC now owns 46,968 shares of the aerospace company’s stock worth $10,105,000 after buying an additional 481 shares in the last quarter. Finally, Royal Fund Management LLC acquired a new position in shares of General Dynamics during the second quarter worth about $1,237,000. 86.08% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
GD has been the subject of a number of research analyst reports. Citigroup reaffirmed a “buy” rating and issued a $283.00 price target on shares of General Dynamics in a report on Tuesday. Morgan Stanley upped their price target on General Dynamics from $248.00 to $250.00 in a report on Thursday, July 27th. Wells Fargo & Company lowered their price target on General Dynamics from $258.00 to $243.00 and set an “overweight” rating for the company in a report on Monday. Finally, StockNews.com initiated coverage on General Dynamics in a report on Thursday, August 17th. They issued a “buy” rating for the company. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $261.23.
General Dynamics Price Performance
Shares of GD stock traded down $1.03 during mid-day trading on Tuesday, reaching $223.30. The stock had a trading volume of 309,501 shares, compared to its average volume of 1,165,695. General Dynamics Co. has a 12-month low of $202.35 and a 12-month high of $256.86. The company has a market cap of $60.97 billion, a P/E ratio of 18.43, a price-to-earnings-growth ratio of 1.99 and a beta of 0.84. The business has a 50-day simple moving average of $221.77 and a 200 day simple moving average of $219.13. The company has a current ratio of 1.39, a quick ratio of 0.90 and a debt-to-equity ratio of 0.47.
General Dynamics (NYSE:GD – Get Free Report) last posted its quarterly earnings data on Wednesday, July 26th. The aerospace company reported $2.70 EPS for the quarter, beating analysts’ consensus estimates of $2.59 by $0.11. General Dynamics had a return on equity of 18.01% and a net margin of 8.24%. The business had revenue of $10.15 billion for the quarter, compared to analyst estimates of $9.45 billion. During the same quarter last year, the company earned $2.75 earnings per share. The business’s revenue for the quarter was up 10.5% compared to the same quarter last year. On average, sell-side analysts anticipate that General Dynamics Co. will post 12.64 earnings per share for the current year.
General Dynamics Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 10th. Stockholders of record on Friday, October 6th will be issued a $1.32 dividend. The ex-dividend date is Thursday, October 5th. This represents a $5.28 dividend on an annualized basis and a dividend yield of 2.36%. General Dynamics’s dividend payout ratio (DPR) is 43.35%.
Insider Transactions at General Dynamics
In related news, VP Gregory S. Gallopoulos sold 6,500 shares of the firm’s stock in a transaction dated 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 sale, the vice president now directly 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 this link. 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 stock was sold at an average price of $225.83, for a total transaction of $1,467,895.00. Following the sale, the vice president now directly owns 113,319 shares in the company, valued at approximately $25,590,829.77. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Phebe N. Novakovic sold 33,230 shares of General Dynamics stock in a transaction that occurred 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 sale, 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 have sold a total of 53,230 shares of company stock worth $12,086,716 in the last three months. 1.50% of the stock is currently owned by company insiders.
General Dynamics 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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