General Dynamics Corporation (NYSE:GD) Stake Held by Capital Investment Counsel Inc

Capital Investment Counsel Inc continued to hold its stake in shares of General Dynamics Corporation (NYSE:GD) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,200 shares of the aerospace company’s stock at the end of the first quarter. Capital Investment Counsel Inc’s holdings in General Dynamics Corporation were worth $225,000 as of its most recent filing with the SEC.

A number of other hedge funds have also added to or reduced their stakes in the company. Quadrant Capital Group LLC raised its stake in General Dynamics Corporation by 0.7% in the first quarter. Quadrant Capital Group LLC now owns 608 shares of the aerospace company’s stock valued at $108,000 after buying an additional 4 shares during the last quarter. Savant Capital LLC raised its stake in General Dynamics Corporation by 0.4% in the first quarter. Savant Capital LLC now owns 1,815 shares of the aerospace company’s stock valued at $340,000 after buying an additional 7 shares during the last quarter. Guardian Life Insurance Co. of America increased its position in General Dynamics Corporation by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 1,104 shares of the aerospace company’s stock valued at $207,000 after buying an additional 8 shares during the period. North Star Investment Management Corp. increased its position in General Dynamics Corporation by 0.5% in the first quarter. North Star Investment Management Corp. now owns 3,316 shares of the aerospace company’s stock valued at $621,000 after buying an additional 16 shares during the period. Finally, Mark Sheptoff Financial Planning LLC increased its position in General Dynamics Corporation by 0.3% in the first quarter. Mark Sheptoff Financial Planning LLC now owns 7,425 shares of the aerospace company’s stock valued at $1,390,000 after buying an additional 21 shares during the period. 87.52% of the stock is owned by institutional investors.

General Dynamics Corporation (NYSE:GD) opened at 198.80 on Wednesday. General Dynamics Corporation has a 52-week low of $147.80 and a 52-week high of $205.90. The firm has a 50-day moving average price of $200.36 and a 200 day moving average price of $192.94. The firm has a market capitalization of $59.60 billion, a P/E ratio of 19.64 and a beta of 0.71.

General Dynamics Corporation (NYSE:GD) last issued its earnings results on Wednesday, July 26th. The aerospace company reported $2.45 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.43 by $0.02. The business had revenue of $7.68 billion during the quarter, compared to analysts’ expectations of $7.76 billion. General Dynamics Corporation had a return on equity of 28.17% and a net margin of 9.63%. General Dynamics Corporation’s revenue was down 1.3% compared to the same quarter last year. During the same quarter last year, the firm posted $2.30 earnings per share. Analysts forecast that General Dynamics Corporation will post $9.82 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 10th. Stockholders of record on Friday, October 6th will be given a $0.84 dividend. The ex-dividend date of this dividend is Thursday, October 5th. This represents a $3.36 annualized dividend and a dividend yield of 1.69%. General Dynamics Corporation’s dividend payout ratio (DPR) is presently 34.57%.

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GD has been the topic of several recent analyst reports. Zacks Investment Research upgraded shares of General Dynamics Corporation from a “sell” rating to a “hold” rating in a report on Thursday, April 13th. Cowen and Company reiterated an “outperform” rating and issued a $207.00 price target on shares of General Dynamics Corporation in a report on Monday, April 17th. Jefferies Group LLC restated a “buy” rating and issued a $200.00 price objective on shares of General Dynamics Corporation in a research report on Tuesday, April 18th. Vetr lowered General Dynamics Corporation from a “hold” rating to a “sell” rating and set a $183.78 target price on the stock. in a research report on Monday, April 24th. Finally, Royal Bank Of Canada increased their target price on General Dynamics Corporation from $211.00 to $220.00 and gave the company an “outperform” rating in a research report on Thursday, April 27th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and eleven have issued a buy rating to the company. General Dynamics Corporation has a consensus rating of “Buy” and an average price target of $206.05.

In related news, VP Christopher Marzilli sold 43,890 shares of General Dynamics Corporation stock in a transaction on Tuesday, May 30th. The stock was sold at an average price of $201.37, for a total transaction of $8,838,129.30. Following the completion of the sale, the vice president now owns 107,857 shares of the company’s stock, valued at $21,719,164.09. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Lester L. Lyles sold 2,551 shares of General Dynamics Corporation stock in a transaction on Friday, May 19th. The shares were sold at an average price of $196.01, for a total value of $500,021.51. Following the sale, the director now directly owns 7,336 shares of the company’s stock, valued at approximately $1,437,929.36. The disclosure for this sale can be found here. 6.70% of the stock is currently owned by company insiders.

About General Dynamics Corporation

General Dynamics Corporation is a global aerospace and defense company. The Company offers a portfolio of products and services in business aviation; combat vehicles, weapons systems and munitions; information technology (IT) services and C4ISR (command, control, communications, computers, intelligence, surveillance and reconnaissance) solutions, and shipbuilding and ship repair.