Bowling Portfolio Management LLC lowered its position in General Dynamics Corporation (NYSE:GD) by 0.2% during the second quarter, Holdings Channel reports. The firm owned 1,626 shares of the aerospace company’s stock after selling 4 shares during the period. Bowling Portfolio Management LLC’s holdings in General Dynamics Corporation were worth $322,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of GD. Teachers Advisors LLC increased its stake in General Dynamics Corporation by 92.8% in the first quarter. Teachers Advisors LLC now owns 578,526 shares of the aerospace company’s stock worth $108,300,000 after buying an additional 278,394 shares during the period. Korea Investment CORP increased its stake in General Dynamics Corporation by 128.7% in the first quarter. Korea Investment CORP now owns 255,196 shares of the aerospace company’s stock worth $47,773,000 after buying an additional 143,590 shares during the period. HCR Wealth Advisors increased its stake in General Dynamics Corporation by 3.3% in the first quarter. HCR Wealth Advisors now owns 1,228 shares of the aerospace company’s stock worth $230,000 after buying an additional 39 shares during the period. Nwam LLC increased its stake in General Dynamics Corporation by 24.3% in the first quarter. Nwam LLC now owns 1,786 shares of the aerospace company’s stock worth $334,000 after buying an additional 349 shares during the period. Finally, Boston Advisors LLC increased its stake in General Dynamics Corporation by 13.4% in the second quarter. Boston Advisors LLC now owns 6,760 shares of the aerospace company’s stock worth $1,339,000 after buying an additional 800 shares during the period. Institutional investors and hedge funds own 86.77% of the company’s stock.
General Dynamics Corporation (NYSE GD) opened at 198.73 on Friday. The company has a market capitalization of $59.58 billion, a price-to-earnings ratio of 19.63 and a beta of 0.71. General Dynamics Corporation has a 52-week low of $148.76 and a 52-week high of $205.90. The stock has a 50 day moving average of $199.79 and a 200-day moving average of $194.45.
General Dynamics Corporation (NYSE:GD) last released its earnings results on Wednesday, July 26th. The aerospace company reported $2.45 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.43 by $0.02. The company had revenue of $7.68 billion during the quarter, compared to analyst estimates of $7.76 billion. General Dynamics Corporation had a net margin of 9.63% and a return on equity of 28.17%. The firm’s quarterly revenue was down 1.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.30 EPS. On average, equities research analysts anticipate that General Dynamics Corporation will post $9.81 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, November 10th. Investors of record on Friday, October 6th will be issued a $0.84 dividend. This represents a $3.36 annualized dividend and a yield of 1.69%. The ex-dividend date is Thursday, October 5th. General Dynamics Corporation’s dividend payout ratio is 34.57%.
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GD has been the subject of a number of research analyst reports. Zacks Investment Research downgraded shares of General Dynamics Corporation from a “buy” rating to a “hold” rating in a report on Friday, July 28th. BidaskClub downgraded shares of General Dynamics Corporation from a “strong-buy” rating to a “buy” rating in a report on Tuesday, June 27th. ValuEngine upgraded shares of General Dynamics Corporation from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. Royal Bank Of Canada lifted their target price on shares of General Dynamics Corporation from $211.00 to $220.00 and gave the stock an “outperform” rating in a research note on Thursday, April 27th. Finally, Berenberg Bank assumed coverage on shares of General Dynamics Corporation in a research note on Wednesday, July 12th. They issued a “buy” rating and a $230.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and eleven have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $206.59.
In related news, VP Christopher Marzilli sold 43,890 shares of the stock in a transaction that occurred on Tuesday, May 30th. The shares were sold at an average price of $201.37, for a total value of $8,838,129.30. Following the completion of the sale, the vice president now directly owns 107,857 shares of the company’s stock, valued at approximately $21,719,164.09. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 6.70% of the company’s stock.
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.
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