General Dynamics Corp. (GD) Position Maintained by First National Bank Sioux Falls
First National Bank Sioux Falls held its stake in General Dynamics Corp. (NYSE:GD) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 748 shares of the company’s stock at the end of the second quarter. First National Bank Sioux Falls’ holdings in General Dynamics Corp. were worth $104,000 at the end of the most recent quarter.
Other hedge funds also recently added to or reduced their stakes in the company. Fox Run Management L.L.C. bought a new stake in General Dynamics Corp. during the first quarter worth $749,000. Sigma Planning Corp boosted its stake in General Dynamics Corp. by 9.9% in the first quarter. Sigma Planning Corp now owns 2,015 shares of the company’s stock worth $265,000 after buying an additional 182 shares during the last quarter. Private Trust Co. NA boosted its stake in General Dynamics Corp. by 15.4% in the first quarter. Private Trust Co. NA now owns 4,478 shares of the company’s stock worth $588,000 after buying an additional 597 shares during the last quarter. QUANTRES ASSET MANAGEMENT Ltd bought a new stake in General Dynamics Corp. during the first quarter worth $276,000. Finally, Narwhal Capital Management boosted its stake in General Dynamics Corp. by 1.2% in the first quarter. Narwhal Capital Management now owns 33,596 shares of the company’s stock worth $4,414,000 after buying an additional 400 shares during the last quarter. 87.68% of the stock is currently owned by institutional investors.
General Dynamics Corp. (NYSE:GD) traded up 1.15% on Thursday, hitting $154.86. 1,161,076 shares of the stock were exchanged. The company has a market cap of $47.15 billion, a PE ratio of 16.47 and a beta of 0.84. The company’s 50-day moving average is $151.80 and its 200-day moving average is $142.33. General Dynamics Corp. has a 52 week low of $121.61 and a 52 week high of $154.98.
General Dynamics Corp. (NYSE:GD) last announced its earnings results on Wednesday, July 27th. The company reported $2.44 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.31 by $0.13. General Dynamics Corp. had a return on equity of 27.74% and a net margin of 9.53%. The business earned $7.66 billion during the quarter, compared to analysts’ expectations of $7.88 billion. During the same quarter last year, the business posted $2.27 earnings per share. The company’s quarterly revenue was down 2.8% on a year-over-year basis. On average, analysts predict that General Dynamics Corp. will post $9.73 earnings per share 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. The ex-dividend date is Wednesday, October 5th. This represents a $3.04 annualized dividend and a yield of 1.96%. General Dynamics Corp.’s dividend payout ratio is currently 32.27%.
GD has been the topic of a number of recent research reports. Jefferies Group reaffirmed a “buy” rating on shares of General Dynamics Corp. in a report on Sunday, July 3rd. Zacks Investment Research raised shares of General Dynamics Corp. from a “hold” rating to a “buy” rating and set a $159.00 price objective on the stock in a research note on Monday, July 18th. Argus boosted their price objective on shares of General Dynamics Corp. from $160.00 to $165.00 and gave the company a “buy” rating in a research note on Tuesday, August 2nd. Sanford C. Bernstein upgraded shares of General Dynamics Corp. from a “market perform” rating to an “outperform” rating and set a $180.00 target price on the stock in a research report on Wednesday, August 10th. They noted that the move was a valuation call. Finally, Citigroup Inc. boosted their target price on shares of General Dynamics Corp. from $162.00 to $185.00 and gave the stock a “buy” rating in a research report on Tuesday, September 6th. Two analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $157.99.
In related news, insider S. Daniel Johnson sold 33,650 shares of the stock in a transaction on Wednesday, August 3rd. The stock was sold at an average price of $147.91, for a total value of $4,977,171.50. Following the completion of the transaction, the insider now owns 107,922 shares in the company, valued at approximately $15,962,743.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Gregory S. Gallopoulos sold 39,000 shares of the stock in a transaction on Friday, July 29th. The shares were sold at an average price of $146.58, for a total value of $5,716,620.00. Following the completion of the transaction, the vice president now owns 153,848 shares of the company’s stock, valued at approximately $22,551,039.84. The disclosure for this sale can be found here. Corporate insiders own 6.80% of the company’s stock.
General Dynamics Corp. Company Profile
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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