Raymond James Trust N.A. lifted its holdings in shares of General Dynamics Co. (NYSE:GD) by 3.1% during the 3rd quarter, Holdings Channel.com reports. The firm owned 25,677 shares of the aerospace company’s stock after acquiring an additional 782 shares during the period. Raymond James Trust N.A.’s holdings in General Dynamics were worth $3,555,000 at the end of the most recent quarter.
Several other hedge funds have also bought and sold shares of the company. Legacy Capital Partners Inc. boosted its holdings in shares of General Dynamics by 0.4% during the second 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 during the last quarter. Cornell Pochily Investment Advisors Inc. boosted its holdings in shares of General Dynamics by 4.3% during the third 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 during the last quarter. Carroll Financial Associates Inc. boosted its holdings in shares of General Dynamics by 6.8% during the second 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 during the last quarter. Horizon Bancorp Inc. IN boosted its holdings in General Dynamics by 7.6% in the second quarter. Horizon Bancorp Inc. IN now owns 1,180 shares of the aerospace company’s stock valued at $176,000 after acquiring an additional 83 shares during the last quarter. Finally, BBVA USA Bancshares Inc. boosted its holdings in General Dynamics by 0.9% in the second quarter. BBVA USA Bancshares Inc. now owns 8,966 shares of the aerospace company’s stock valued at $1,340,000 after acquiring an additional 84 shares during the last quarter. Institutional investors and hedge funds own 84.98% of the company’s stock.
Shares of NYSE GD opened at $142.24 on Friday. General Dynamics Co. has a 1 year low of $100.55 and a 1 year high of $190.08. The firm has a market cap of $40.81 billion, a price-to-earnings ratio of 12.63, a PEG ratio of 2.52 and a beta of 1.02. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.87 and a current ratio of 1.27. The stock’s 50-day simple moving average is $144.54 and its 200-day simple moving average is $144.00.
General Dynamics (NYSE:GD) last announced its earnings results on Wednesday, July 29th. The aerospace company reported $2.18 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.15 by $0.03. General Dynamics had a return on equity of 24.10% and a net margin of 8.47%. The business had revenue of $9.26 billion for the quarter, compared to analyst estimates of $9.03 billion. During the same period in the previous year, the company earned $2.77 earnings per share. The company’s revenue for the quarter was down 3.0% compared to the same quarter last year. As a group, research analysts predict that General Dynamics Co. will post 11.04 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Friday, October 9th 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 3.09%. The ex-dividend date is Thursday, October 8th. General Dynamics’s payout ratio is 36.73%.
A number of research analysts recently weighed in on GD shares. TheStreet cut General Dynamics from a “b-” rating to a “c+” rating in a report on Thursday, July 9th. 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. Robert W. Baird cut General Dynamics from an “outperform” rating to a “neutral” rating and reduced their target price for the company from $167.00 to $149.00 in a report on Friday, October 2nd. Barclays reduced their target price on General Dynamics from $170.00 to $165.00 and set an “overweight” rating on the stock in a report on Thursday, October 1st. They noted that the move was a valuation call. Finally, ValuEngine cut General Dynamics from a “hold” rating to a “sell” rating in a report on Monday, August 3rd. 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 company. General Dynamics presently has an average rating of “Hold” and an average target price of $173.19.
In other news, VP William A. Moss sold 4,778 shares of General Dynamics stock in a transaction dated Thursday, September 24th. The stock was sold at an average price of $136.68, for a total transaction of $653,057.04. Following 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 can be accessed through this hyperlink. 6.60% of the stock is currently owned by insiders.
General Dynamics 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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