Watch Point Trust Co raised its position in General Dynamics Co. (NYSE:GD) by 21.1% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,139 shares of the aerospace company’s stock after purchasing an additional 2,992 shares during the quarter. General Dynamics accounts for approximately 1.8% of Watch Point Trust Co’s portfolio, making the stock its 29th largest holding. Watch Point Trust Co’s holdings in General Dynamics were worth $3,117,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in GD. Harvest Group Wealth Management LLC purchased a new position in shares of General Dynamics in the 1st quarter worth about $28,000. TCG Advisors LP purchased a new position in shares of General Dynamics in the 1st quarter worth about $38,000. Zions Bancorporation N.A. purchased a new position in shares of General Dynamics in the 1st quarter worth about $40,000. Princeton Global Asset Management LLC purchased a new position in shares of General Dynamics in the 1st quarter worth about $42,000. Finally, Horan Capital Advisors LLC. purchased a new position in shares of General Dynamics in the 1st quarter worth about $47,000. Institutional investors own 86.84% of the company’s stock.
Shares of NYSE:GD traded up $1.63 during mid-day trading on Thursday, hitting $182.46. 27,251 shares of the company traded hands, compared to its average volume of 1,100,424. The firm has a market capitalization of $52.37 billion, a price-to-earnings ratio of 15.99, a P/E/G ratio of 1.76 and a beta of 1.21. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.73 and a current ratio of 1.09. General Dynamics Co. has a 52-week low of $143.87 and a 52-week high of $207.72. The stock’s 50 day moving average price is $183.62.
General Dynamics (NYSE:GD) last announced its earnings results on Wednesday, July 24th. The aerospace company reported $2.77 EPS for the quarter, beating the consensus estimate of $2.68 by $0.09. The business had revenue of $9.56 billion for the quarter, compared to the consensus estimate of $9.36 billion. General Dynamics had a return on equity of 26.81% and a net margin of 8.65%. The company’s revenue was up 4.0% on a year-over-year basis. During the same period last year, the business posted $2.82 EPS. On average, equities analysts expect that General Dynamics Co. will post 11.86 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, October 11th will be issued a dividend of $1.02 per share. The ex-dividend date is Thursday, October 10th. This represents a $4.08 annualized dividend and a dividend yield of 2.24%. General Dynamics’s payout ratio is currently 35.73%.
In other General Dynamics news, Director William A. Osborn sold 1,500 shares of General Dynamics stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $182.56, for a total transaction of $273,840.00. Following the sale, the director now directly owns 37,585 shares in the company, valued at approximately $6,861,517.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Gary L. Whited sold 14,029 shares of General Dynamics stock in a transaction that occurred on Tuesday, July 30th. The stock was sold at an average price of $188.38, for a total value of $2,642,783.02. Following the sale, the vice president now owns 37,542 shares in the company, valued at $7,072,161.96. The disclosure for this sale can be found here. Company insiders own 7.10% of the company’s stock.
A number of equities analysts have recently commented on GD shares. Zacks Investment Research upgraded General Dynamics from a “hold” rating to a “buy” rating and set a $171.00 price objective on the stock in a report on Monday, June 3rd. Morgan Stanley raised their price objective on General Dynamics from $171.00 to $173.00 and gave the stock an “underweight” rating in a report on Wednesday. Goldman Sachs Group upgraded General Dynamics from a “neutral” rating to a “buy” rating and set a $204.00 price objective on the stock in a report on Sunday, May 19th. ValuEngine upgraded General Dynamics from a “sell” rating to a “hold” rating in a report on Thursday, June 6th. Finally, JPMorgan Chase & Co. upgraded General Dynamics from an “underweight” rating to a “neutral” rating and raised their price objective for the stock from $188.00 to $200.00 in a report on Thursday, April 25th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and seven have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $191.47.
General Dynamics Company Profile
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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