BBVA USA Bancshares Inc. raised its position in General Dynamics Co. (NYSE:GD) by 0.9% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,966 shares of the aerospace company’s stock after purchasing an additional 84 shares during the period. BBVA USA Bancshares Inc.’s holdings in General Dynamics were worth $1,340,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in GD. Seeyond lifted its holdings in shares of General Dynamics by 70.4% during the 1st quarter. Seeyond now owns 4,580 shares of the aerospace company’s stock worth $500,000 after acquiring an additional 1,892 shares during the period. Clarius Group LLC lifted its holdings in shares of General Dynamics by 6.1% during the 2nd quarter. Clarius Group LLC now owns 1,655 shares of the aerospace company’s stock worth $247,000 after acquiring an additional 95 shares during the period. First Mercantile Trust Co. lifted its holdings in shares of General Dynamics by 6.0% during the 1st quarter. First Mercantile Trust Co. now owns 17,901 shares of the aerospace company’s stock worth $2,368,000 after acquiring an additional 1,018 shares during the period. Cigna Investments Inc. New lifted its holdings in shares of General Dynamics by 6.3% during the 1st quarter. Cigna Investments Inc. New now owns 6,783 shares of the aerospace company’s stock worth $897,000 after acquiring an additional 400 shares during the period. Finally, Canandaigua National Corp purchased a new position in shares of General Dynamics during the 2nd quarter worth about $1,443,000. Institutional investors own 85.57% of the company’s stock.
Shares of NYSE:GD opened at $151.53 on Thursday. The company has a quick ratio of 0.97, a current ratio of 1.34 and a debt-to-equity ratio of 0.98. General Dynamics Co. has a 52-week low of $100.55 and a 52-week high of $193.76. The company has a 50 day moving average of $150.48 and a two-hundred day moving average of $153.22. The company has a market capitalization of $42.40 billion, a price-to-earnings ratio of 12.79, a price-to-earnings-growth ratio of 2.47 and a beta of 1.05.
General Dynamics (NYSE:GD) last released its quarterly earnings results on Wednesday, April 29th. The aerospace company reported $2.43 earnings per share for the quarter, missing analysts’ consensus estimates of $2.46 by ($0.03). General Dynamics had a return on equity of 25.92% and a net margin of 8.87%. The company had revenue of $8.75 billion for the quarter, compared to analyst estimates of $9.25 billion. During the same period in the previous year, the business posted $2.56 EPS. The firm’s quarterly revenue was down 5.5% compared to the same quarter last year. On average, equities analysts anticipate that General Dynamics Co. will post 11.14 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, August 7th. Stockholders of record on Friday, July 3rd will be given a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a dividend yield of 2.90%. The ex-dividend date is Wednesday, July 1st. General Dynamics’s payout ratio is currently 36.73%.
GD has been the topic of several recent analyst reports. TheStreet lowered shares of General Dynamics from a “b-” rating to a “c+” rating in a report on Thursday, July 9th. Royal Bank of Canada started coverage on shares of General Dynamics in a report on Wednesday, May 20th. They set an “outperform” rating and a $157.00 price objective on the stock. Seaport Global Securities started coverage on shares of General Dynamics in a report on Tuesday, May 19th. They issued a “buy” rating and a $188.00 price target on the stock. ValuEngine upgraded shares of General Dynamics from a “sell” rating to a “hold” rating in a report on Tuesday, July 14th. Finally, Susquehanna Bancshares raised their price target on shares of General Dynamics from $167.00 to $184.00 and gave the company a “positive” rating in a report on Thursday, June 4th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have given a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $184.85.
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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