Investors Sell General Dynamics Corp. (GD) on Strength (GD)
Traders sold shares of General Dynamics Corp. (NYSE:GD) on strength during trading hours on Wednesday. $38.17 million flowed into the stock on the tick-up and $77.69 million flowed out of the stock on the tick-down, for a money net flow of $39.52 million out of the stock. Of all stocks tracked, General Dynamics Corp. had the 0th highest net out-flow for the day. General Dynamics Corp. traded up $1.23 for the day and closed at $144.54
GD has been the subject of several research analyst reports. Zacks Investment Research raised General Dynamics Corp. from a “hold” rating to a “buy” rating and set a $159.00 price objective for the company in a research report on Monday. Deutsche Bank AG cut General Dynamics Corp. from a “buy” rating to a “hold” rating and cut their price objective for the stock from $170.00 to $152.00 in a research report on Thursday, March 24th. Jefferies Group reissued a “buy” rating on shares of General Dynamics Corp. in a research report on Sunday, July 3rd. Guggenheim initiated coverage on General Dynamics Corp. in a research report on Monday, April 4th. They set a “buy” rating and a $153.00 price objective for the company. Finally, JPMorgan Chase & Co. boosted their price objective on General Dynamics Corp. from $108.00 to $114.00 and gave the stock an “outperform” rating in a research report on Monday, March 28th. Three analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. General Dynamics Corp. has a consensus rating of “Buy” and an average price target of $152.68.
The firm has a market cap of $44.51 billion and a price-to-earnings ratio of 15.64. The company has a 50 day moving average price of $139.98 and a 200-day moving average price of $136.54.
General Dynamics Corp. (NYSE:GD) last posted its quarterly earnings results on Wednesday, April 27th. The company reported $2.34 EPS for the quarter, topping analysts’ consensus estimates of $2.16 by $0.18. During the same quarter in the previous year, the business posted $2.14 EPS. The business had revenue of $7.70 billion for the quarter, compared to the consensus estimate of $7.69 billion. The company’s revenue for the quarter was down .8% on a year-over-year basis. Equities research analysts anticipate that General Dynamics Corp. will post $9.52 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, August 5th. Investors of record on Friday, July 1st will be issued a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a yield of 2.10%. The ex-dividend date is Wednesday, June 29th.
A number of large investors recently modified their holdings of the company. Morgan Stanley increased its stake in shares of General Dynamics Corp. by 27.9% in the fourth quarter. Morgan Stanley now owns 902,037 shares of the company’s stock valued at $123,905,000 after buying an additional 196,870 shares during the period. Wells Fargo & Company MN increased its stake in shares of General Dynamics Corp. by 3.4% in the fourth quarter. Wells Fargo & Company MN now owns 4,931,162 shares of the company’s stock valued at $677,345,000 after buying an additional 163,090 shares during the period. Freestone Capital Holdings LLC increased its stake in shares of General Dynamics Corp. by 1,444.0% in the fourth quarter. Freestone Capital Holdings LLC now owns 113,995 shares of the company’s stock valued at $15,658,000 after buying an additional 106,612 shares during the period. State of New Jersey Common Pension Fund D increased its stake in shares of General Dynamics Corp. by 47.1% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 250,000 shares of the company’s stock valued at $34,340,000 after buying an additional 80,000 shares during the period. Finally, Systematic Financial Management LP bought a new stake in shares of General Dynamics Corp. during the fourth quarter valued at about $6,948,000.
General Dynamics Corporation is an aerospace and defense company that offers a portfolio of products and services in business aviation; combat vehicles, weapons systems and munitions; command, control, communications, computers, intelligence, surveillance and reconnaissance (C4ISR) solutions and information technology (IT) services, and shipbuilding.
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