Huntington National Bank Has $4,567,000 Position in General Dynamics Corp. (GD)
Huntington National Bank decreased its stake in shares of General Dynamics Corp. (NYSE:GD) by 15.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 32,800 shares of the company’s stock after selling 6,189 shares during the period. Huntington National Bank’s holdings in General Dynamics Corp. were worth $4,567,000 at the end of the most recent quarter.
Other large investors have also made changes to their positions in the company. Sun Life Financial INC purchased a new position in General Dynamics Corp. during the first quarter valued at $106,147,000. Wellington Management Group LLP increased its position in General Dynamics Corp. by 4.9% in the first quarter. Wellington Management Group LLP now owns 3,166,973 shares of the company’s stock valued at $416,045,000 after buying an additional 147,072 shares during the last quarter. Simmons Bank purchased a new position in General Dynamics Corp. during the first quarter valued at $315,000. Geode Capital Management LLC increased its position in General Dynamics Corp. by 2.5% in the first quarter. Geode Capital Management LLC now owns 2,603,362 shares of the company’s stock valued at $341,383,000 after buying an additional 63,236 shares during the last quarter. Finally, Advent Capital Management DE increased its position in General Dynamics Corp. by 12.5% in the first quarter. Advent Capital Management DE now owns 45,000 shares of the company’s stock valued at $5,912,000 after buying an additional 5,000 shares during the last quarter. 87.68% of the stock is owned by hedge funds and other institutional investors.
Shares of General Dynamics Corp. (NYSE:GD) traded up 0.22% during trading on Friday, hitting $151.34. The company had a trading volume of 862,647 shares. The stock has a market capitalization of $46.08 billion, a P/E ratio of 16.09 and a beta of 0.76. General Dynamics Corp. has a 52 week low of $121.61 and a 52 week high of $156.97. The firm’s 50 day moving average is $152.76 and its 200-day moving average is $144.54.
General Dynamics Corp. (NYSE:GD) last posted its quarterly earnings data on Wednesday, July 27th. The company reported $2.44 EPS for the quarter, beating analysts’ consensus estimates of $2.31 by $0.13. The company earned $7.66 billion during the quarter, compared to analysts’ expectations of $7.88 billion. General Dynamics Corp. had a return on equity of 27.74% and a net margin of 9.53%. General Dynamics Corp.’s revenue for the quarter was down 2.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.27 earnings per share. Equities research analysts anticipate that General Dynamics Corp. will post $9.73 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, November 10th. Shareholders of record on Friday, October 7th will be given a $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date of this dividend is Wednesday, October 5th. General Dynamics Corp.’s payout ratio is 32.27%.
Several research analysts have recently weighed in on GD shares. Robert W. Baird started coverage on General Dynamics Corp. in a research note on Thursday, October 6th. They set an “outperform” rating and a $181.00 price target for the company. Jefferies Group reiterated a “buy” rating and set a $167.00 price target on shares of General Dynamics Corp. in a research note on Thursday, July 28th. Zacks Investment Research upgraded General Dynamics Corp. from a “hold” rating to a “buy” rating and set a $159.00 price target for the company in a research note on Monday, July 18th. Citigroup Inc. raised their target price on General Dynamics Corp. from $162.00 to $185.00 and gave the stock a “buy” rating in a research note on Tuesday, September 6th. Finally, Deutsche Bank AG restated a “hold” rating on shares of General Dynamics Corp. in a research note on Friday, September 23rd. Two equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $159.27.
In other General Dynamics Corp. news, VP Kimberly A. Kuryea sold 4,117 shares of the company’s stock in a transaction dated Tuesday, September 6th. The stock was sold at an average price of $154.56, for a total value of $636,323.52. Following the completion of the sale, the vice president now owns 36,412 shares in the company, valued at $5,627,838.72. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Gregory S. Gallopoulos sold 39,000 shares of the company’s stock in a transaction dated Friday, July 29th. The stock was sold at an average price of $146.58, for a total value of $5,716,620.00. Following the completion of the sale, 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. 6.80% of the stock is owned by company insiders.
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.
Want to see what other hedge funds are holding GD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for General Dynamics Corp. (NYSE:GD).
Receive News & Ratings for General Dynamics Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for General Dynamics Corp. and related companies with MarketBeat.com's FREE daily email newsletter.