Park National Corp OH decreased its position in shares of General Dynamics Co. (NYSE:GD) by 15.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 67,504 shares of the aerospace company’s stock after selling 12,776 shares during the period. Park National Corp OH’s holdings in General Dynamics were worth $12,274,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Bath Savings Trust Co grew its stake in shares of General Dynamics by 12.2% in the 2nd quarter. Bath Savings Trust Co now owns 1,655 shares of the aerospace company’s stock valued at $301,000 after purchasing an additional 180 shares during the period. Horizon Investments LLC bought a new stake in General Dynamics during the 1st quarter worth approximately $212,000. Merit Financial Group LLC grew its position in General Dynamics by 39.8% during the 1st quarter. Merit Financial Group LLC now owns 2,359 shares of the aerospace company’s stock worth $399,000 after acquiring an additional 671 shares during the last quarter. Weiss Asset Management LP bought a new stake in General Dynamics during the 1st quarter worth approximately $205,000. Finally, EP Wealth Advisors LLC grew its position in General Dynamics by 8.3% during the 1st quarter. EP Wealth Advisors LLC now owns 53,725 shares of the aerospace company’s stock worth $9,095,000 after acquiring an additional 4,099 shares during the last quarter. 86.47% of the stock is owned by hedge funds and other institutional investors.
NYSE:GD traded up $1.35 during trading hours on Tuesday, hitting $185.97. 1,150,168 shares of the stock were exchanged, compared to its average volume of 1,297,851. The company’s 50 day moving average is $178.23. General Dynamics Co. has a twelve month low of $143.87 and a twelve month high of $207.72. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.23 and a quick ratio of 0.82. The firm has a market capitalization of $53.11 billion, a P/E ratio of 16.28, a P/E/G ratio of 1.76 and a beta of 1.20.
General Dynamics (NYSE:GD) last posted its quarterly earnings data on Wednesday, April 24th. The aerospace company reported $2.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.38 by $0.18. General Dynamics had a return on equity of 27.62% and a net margin of 8.68%. The firm had revenue of $9.26 billion for the quarter, compared to the consensus estimate of $8.90 billion. During the same quarter in the prior year, the business earned $2.65 EPS. The business’s revenue for the quarter was up 22.9% compared to the same quarter last year. On average, research analysts anticipate that General Dynamics Co. will post 11.76 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 9th. Shareholders of record on Friday, July 5th will be issued a dividend of $1.02 per share. This represents a $4.08 annualized dividend and a yield of 2.19%. The ex-dividend date of this dividend is Wednesday, July 3rd. General Dynamics’s dividend payout ratio is 35.73%.
A number of equities research analysts recently commented on GD shares. Goldman Sachs Group upgraded General Dynamics from a “neutral” rating to a “buy” rating and set a $204.00 price target on the stock in a research report on Sunday, May 19th. Cowen restated an “outperform” rating and set a $230.00 price target (up from $200.00) on shares of Norfolk Southern in a research report on Wednesday, April 24th. UBS Group restated a “buy” rating and set a $124.00 price target on shares of Cie Gnrl des Etblsmnts Michelin SCA in a research report on Thursday, April 25th. Morgan Stanley set a $18.00 price target on PG&E and gave the stock a “hold” rating in a research report on Friday, June 14th. Finally, JPMorgan Chase & Co. restated a “hold” rating and set a $7.00 price target on shares of Deutsche Bank in a research report on Thursday, April 25th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eight have given a buy rating to the company. General Dynamics presently has a consensus rating of “Hold” and an average price target of $196.00.
About General Dynamics
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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