Captrust Financial Advisors lessened its position in shares of General Dynamics Co. (NYSE:GD) by 27.4% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 841 shares of the aerospace company’s stock after selling 318 shares during the quarter. Captrust Financial Advisors’ holdings in General Dynamics were worth $157,000 at the end of the most recent reporting period.
Other institutional investors have also recently bought and sold shares of the company. American Century Companies Inc. boosted its stake in shares of General Dynamics by 24.8% in the first quarter. American Century Companies Inc. now owns 564,624 shares of the aerospace company’s stock worth $124,725,000 after buying an additional 112,054 shares during the last quarter. Robeco Institutional Asset Management B.V. boosted its stake in shares of General Dynamics by 3.8% in the first quarter. Robeco Institutional Asset Management B.V. now owns 169,238 shares of the aerospace company’s stock worth $37,386,000 after buying an additional 6,161 shares during the last quarter. Castleview Partners LLC acquired a new position in General Dynamics in the 1st quarter worth about $261,000. Zweig DiMenna Associates LLC acquired a new position in General Dynamics in the 1st quarter worth about $12,481,000. Finally, Wealthfront Inc. raised its holdings in General Dynamics by 21.9% in the 1st quarter. Wealthfront Inc. now owns 12,735 shares of the aerospace company’s stock worth $2,813,000 after purchasing an additional 2,290 shares during the period. Institutional investors and hedge funds own 85.47% of the company’s stock.
In other General Dynamics news, insider John Patrick Casey sold 22,500 shares of the stock in a transaction that occurred on Monday, July 16th. The stock was sold at an average price of $191.99, for a total transaction of $4,319,775.00. Following the completion of the transaction, the insider now owns 118,555 shares of the company’s stock, valued at $22,761,374.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 6.70% of the stock is owned by corporate insiders.
A number of research firms recently weighed in on GD. Zacks Investment Research cut General Dynamics from a “hold” rating to a “sell” rating in a report on Tuesday, June 26th. Barclays reaffirmed an “overweight” rating and issued a $256.00 price target on shares of General Dynamics in a report on Thursday, June 14th. Drexel Hamilton reaffirmed a “buy” rating and issued a $230.00 price target on shares of General Dynamics in a report on Thursday, August 16th. Morgan Stanley reduced their price target on General Dynamics from $215.00 to $207.00 and set an “underweight” rating for the company in a report on Friday, June 22nd. Finally, ValuEngine cut General Dynamics from a “hold” rating to a “sell” rating in a report on Monday, June 18th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and ten have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $239.39.
Shares of General Dynamics stock opened at $194.71 on Friday. General Dynamics Co. has a 12 month low of $184.21 and a 12 month high of $230.00. The company has a market cap of $57.99 billion, a price-to-earnings ratio of 18.61, a PEG ratio of 1.57 and a beta of 0.79. The company has a quick ratio of 0.84, a current ratio of 1.20 and a debt-to-equity ratio of 0.95.
General Dynamics (NYSE:GD) last announced its earnings results on Wednesday, July 25th. The aerospace company reported $2.82 EPS for the quarter, beating analysts’ consensus estimates of $2.49 by $0.33. General Dynamics had a return on equity of 27.06% and a net margin of 9.16%. 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 prior year, the firm earned $2.45 earnings per share. The business’s revenue was up 19.7% compared to the same quarter last year. equities research analysts anticipate that General Dynamics Co. will post 11.22 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, November 9th. Shareholders of record on Friday, October 5th will be issued a dividend of $0.93 per share. The ex-dividend date is Thursday, October 4th. This represents a $3.72 dividend on an annualized basis and a dividend yield of 1.91%. General Dynamics’s payout ratio is currently 37.39%.
About General Dynamics
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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