General Dynamics Corp. (GD) Shares Sold by Seven Bridges Advisors LLC
Seven Bridges Advisors LLC cut its stake in shares of General Dynamics Corp. (NYSE:GD) by 10.4% during the second quarter, Holdings Channel reports. The fund owned 6,956 shares of the company’s stock after selling 806 shares during the period. Seven Bridges Advisors LLC’s holdings in General Dynamics Corp. were worth $969,000 at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of the stock. Carroll Financial Associates Inc. boosted its stake in shares of General Dynamics Corp. by 3.2% in the second quarter. Carroll Financial Associates Inc. now owns 1,283 shares of the company’s stock worth $178,000 after buying an additional 40 shares during the last quarter. Holowesko Partners Ltd. acquired a new stake in shares of General Dynamics Corp. during the first quarter worth about $223,000. Brookstone Capital Management acquired a new stake in shares of General Dynamics Corp. during the second quarter worth about $233,000. Cabot Wealth Management Inc. boosted its stake in shares of General Dynamics Corp. by 1.0% in the first quarter. Cabot Wealth Management Inc. now owns 1,927 shares of the company’s stock worth $253,000 after buying an additional 19 shares during the last quarter. Finally, Bank of Stockton boosted its stake in shares of General Dynamics Corp. by 7.0% in the second quarter. Bank of Stockton now owns 1,840 shares of the company’s stock worth $256,000 after buying an additional 120 shares during the last quarter. Institutional investors and hedge funds own 87.68% of the company’s stock.
General Dynamics Corp. (NYSE:GD) traded up 0.82% during mid-day trading on Wednesday, hitting $153.10. 800,701 shares of the stock were exchanged. General Dynamics Corp. has a 52 week low of $121.61 and a 52 week high of $154.98. The company’s 50-day moving average price is $151.60 and its 200 day moving average price is $142.24. The firm has a market capitalization of $46.61 billion, a price-to-earnings ratio of 16.28 and a beta of 0.84.
General Dynamics Corp. (NYSE:GD) last released its earnings results on Wednesday, July 27th. The company reported $2.44 earnings per share for the quarter, beating analysts’ consensus estimates of $2.31 by $0.13. General Dynamics Corp. had a net margin of 9.53% and a return on equity of 27.74%. The company had revenue of $7.66 billion for the quarter, compared to analysts’ expectations of $7.88 billion. During the same quarter in the previous year, the company earned $2.27 EPS. General Dynamics Corp.’s revenue for the quarter was down 2.8% on a year-over-year basis. Equities research analysts expect that General Dynamics Corp. will post $9.73 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, November 10th. Investors of record on Friday, October 7th will be paid a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a dividend yield of 1.99%. The ex-dividend date is Wednesday, October 5th. General Dynamics Corp.’s dividend payout ratio (DPR) is 32.27%.
A number of equities research analysts have issued reports on GD shares. Jefferies Group reissued a “buy” rating on shares of General Dynamics Corp. in a report on Wednesday, August 3rd. Argus boosted their target price on shares of General Dynamics Corp. from $160.00 to $165.00 and gave the company a “buy” rating in a report on Tuesday, August 2nd. Zacks Investment Research raised shares of General Dynamics Corp. from a “hold” rating to a “buy” rating and set a $159.00 target price on the stock in a report on Monday, July 18th. Citigroup Inc. boosted their target price on shares of General Dynamics Corp. from $162.00 to $185.00 and gave the company a “buy” rating in a report on Tuesday, September 6th. Finally, Sanford C. Bernstein raised shares of General Dynamics Corp. from a “market perform” rating to an “outperform” rating and set a $180.00 price target on the stock in a report on Wednesday, August 10th. They noted that the move was a valuation call. Two investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $157.99.
In other General Dynamics Corp. news, VP Kimberly A. Kuryea sold 4,117 shares of General Dynamics Corp. stock in a transaction on Tuesday, September 6th. The shares were sold at an average price of $154.56, for a total value of $636,323.52. Following the sale, the vice president now directly owns 36,412 shares in the company, valued at approximately $5,627,838.72. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Robert W. Helm sold 149,910 shares of General Dynamics Corp. stock in a transaction on Thursday, September 8th. The shares were sold at an average price of $152.43, for a total transaction of $22,850,781.30. Following the completion of the sale, the insider now owns 108,119 shares in the company, valued at $16,480,579.17. The disclosure for this sale can be found here. Corporate insiders own 6.80% of the company’s stock.
About General Dynamics Corp.
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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