ClariVest Asset Management LLC lowered its holdings in General Dynamics Co. (NYSE:GD) by 46.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 94,790 shares of the aerospace company’s stock after selling 81,205 shares during the period. ClariVest Asset Management LLC’s holdings in General Dynamics were worth $17,670,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also added to or reduced their stakes in GD. CX Institutional bought a new position in shares of General Dynamics in the 2nd quarter valued at about $107,000. Dubuque Bank & Trust Co. grew its position in shares of General Dynamics by 230.7% in the 1st quarter. Dubuque Bank & Trust Co. now owns 496 shares of the aerospace company’s stock valued at $109,000 after acquiring an additional 346 shares during the period. James Investment Research Inc. bought a new position in shares of General Dynamics in the 2nd quarter valued at about $112,000. Optimum Investment Advisors bought a new position in shares of General Dynamics in the 1st quarter valued at about $134,000. Finally, BerganKDV Wealth Management LLC bought a new position in shares of General Dynamics in the 2nd quarter valued at about $114,000. 85.47% of the stock is owned by institutional investors and hedge funds.
In other General Dynamics news, insider John Patrick Casey sold 22,500 shares of General Dynamics stock in a transaction dated Monday, July 16th. The shares were sold at an average price of $191.99, for a total value of $4,319,775.00. Following the completion of the sale, the insider now owns 118,555 shares in the company, valued at approximately $22,761,374.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 6.70% of the stock is owned by insiders.
Shares of General Dynamics stock opened at $192.51 on Friday. General Dynamics Co. has a twelve month low of $184.21 and a twelve month high of $230.00. The company has a quick ratio of 0.84, a current ratio of 1.20 and a debt-to-equity ratio of 0.95. The stock has a market capitalization of $58.11 billion, a price-to-earnings ratio of 19.35, a price-to-earnings-growth ratio of 1.57 and a beta of 0.83.
General Dynamics (NYSE:GD) last issued its quarterly earnings data on Wednesday, July 25th. The aerospace company reported $2.82 earnings per share for the quarter, topping the consensus estimate of $2.49 by $0.33. General Dynamics had a net margin of 9.16% and a return on equity of 27.06%. The business had revenue of $9.19 billion during the quarter, compared to analysts’ expectations of $9.09 billion. During the same quarter in the previous year, the company earned $2.45 EPS. The business’s revenue was up 19.7% on a year-over-year basis. equities research analysts expect that General Dynamics Co. will post 11.25 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 9th. Shareholders of record on Friday, October 5th will be paid a $0.93 dividend. This represents a $3.72 annualized dividend and a yield of 1.93%. The ex-dividend date is Thursday, October 4th. General Dynamics’s dividend payout ratio (DPR) is 37.39%.
Several analysts recently commented on the stock. Credit Suisse Group reduced their target price on shares of General Dynamics from $263.00 to $234.00 in a report on Tuesday, May 22nd. JPMorgan Chase & Co. reaffirmed an “underweight” rating and set a $225.00 target price on shares of General Dynamics in a report on Thursday, June 14th. Barclays reaffirmed an “overweight” rating and set a $256.00 target price on shares of General Dynamics in a report on Thursday, June 14th. Bank of America set a $275.00 target price on shares of General Dynamics and gave the stock a “buy” rating in a report on Tuesday, July 31st. Finally, ValuEngine raised shares of General Dynamics from a “sell” rating to a “hold” rating in a report on Saturday, July 28th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and ten have issued a buy rating to the stock. General Dynamics presently has an average rating of “Hold” and a consensus price target of $239.39.
General Dynamics Profile
General Dynamics Corporation operates as an aerospace and defense company worldwide. It operates through four business groups: Aerospace; Combat Systems; Information Systems and Technology; and Marine Systems. The Aerospace group designs, develops, manufactures, service and supports business-jet aircraft; and provides aircraft services, such as maintenance, aircraft management, charter, fixed-base operational, and staffing services.
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