Beacon Financial Group Raises Stake in General Dynamics Corporation (GD)
Beacon Financial Group raised its position in General Dynamics Corporation (NYSE:GD) by 3.1% during the second quarter, Holdings Channel reports. The fund owned 8,393 shares of the aerospace company’s stock after buying an additional 250 shares during the period. Beacon Financial Group’s holdings in General Dynamics Corporation were worth $1,653,000 at the end of the most recent reporting period.
Other hedge funds have also added to or reduced their stakes in the company. Teachers Advisors LLC raised its stake in General Dynamics Corporation by 92.8% in the first quarter. Teachers Advisors LLC now owns 578,526 shares of the aerospace company’s stock worth $108,300,000 after buying an additional 278,394 shares in the last quarter. Korea Investment CORP raised its stake in General Dynamics Corporation by 128.7% in the first quarter. Korea Investment CORP now owns 255,196 shares of the aerospace company’s stock worth $47,773,000 after buying an additional 143,590 shares in the last quarter. HCR Wealth Advisors raised its stake in General Dynamics Corporation by 3.3% in the first quarter. HCR Wealth Advisors now owns 1,228 shares of the aerospace company’s stock worth $230,000 after buying an additional 39 shares in the last quarter. Nwam LLC raised its stake in General Dynamics Corporation by 24.3% in the first quarter. Nwam LLC now owns 1,786 shares of the aerospace company’s stock worth $334,000 after buying an additional 349 shares in the last quarter. Finally, Davis R M Inc. raised its stake in General Dynamics Corporation by 8.0% in the first quarter. Davis R M Inc. now owns 1,447 shares of the aerospace company’s stock worth $271,000 after buying an additional 107 shares in the last quarter. Institutional investors and hedge funds own 87.52% of the company’s stock.
General Dynamics Corporation (NYSE GD) traded up 0.46% on Friday, reaching $199.20. 473,057 shares of the company’s stock traded hands. General Dynamics Corporation has a 52-week low of $148.76 and a 52-week high of $205.90. The stock’s 50 day moving average is $199.91 and its 200 day moving average is $193.59. The firm has a market cap of $59.72 billion, a price-to-earnings ratio of 19.68 and a beta of 0.71.
General Dynamics Corporation (NYSE:GD) last issued its earnings results on Wednesday, July 26th. The aerospace company reported $2.45 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.43 by $0.02. The firm had revenue of $7.68 billion during the quarter, compared to the consensus estimate of $7.76 billion. General Dynamics Corporation had a return on equity of 28.17% and a net margin of 9.63%. The business’s quarterly revenue was down 1.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.30 earnings per share. On average, equities research analysts predict that General Dynamics Corporation will post $9.82 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, November 10th. Shareholders of record on Friday, October 6th will be paid a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a yield of 1.69%. The ex-dividend date is Thursday, October 5th. General Dynamics Corporation’s payout ratio is 34.57%.
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A number of equities research analysts have recently issued reports on GD shares. Zacks Investment Research upgraded shares of General Dynamics Corporation from a “sell” rating to a “hold” rating in a report on Thursday, April 13th. Cowen and Company restated an “outperform” rating and set a $207.00 price target on shares of General Dynamics Corporation in a report on Monday, April 17th. Jefferies Group LLC restated a “buy” rating and set a $200.00 price target on shares of General Dynamics Corporation in a report on Tuesday, April 18th. Vetr lowered shares of General Dynamics Corporation from a “hold” rating to a “sell” rating and set a $183.78 price target on the stock. in a report on Monday, April 24th. Finally, Royal Bank Of Canada boosted their price target on shares of General Dynamics Corporation from $211.00 to $220.00 and gave the company an “outperform” rating in a report on Thursday, April 27th. Two analysts have rated the stock with a sell rating, four have given a hold rating and eleven have given a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $206.05.
In other General Dynamics Corporation news, Director Lester L. Lyles sold 2,551 shares of the business’s stock in a transaction dated Friday, May 19th. The stock was sold at an average price of $196.01, for a total transaction of $500,021.51. Following the completion of the transaction, the director now owns 7,336 shares of the company’s stock, valued at $1,437,929.36. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Christopher Marzilli sold 43,890 shares of the business’s stock in a transaction dated Tuesday, May 30th. The stock was sold at an average price of $201.37, for a total value of $8,838,129.30. Following the transaction, the vice president now directly owns 107,857 shares of the company’s stock, valued at approximately $21,719,164.09. The disclosure for this sale can be found here. 6.70% of the stock is currently owned by insiders.
About General Dynamics Corporation
General Dynamics Corporation is a global aerospace and defense company. The Company offers a portfolio of products and services in business aviation; combat vehicles, weapons systems and munitions; information technology (IT) services and C4ISR (command, control, communications, computers, intelligence, surveillance and reconnaissance) solutions, and shipbuilding and ship repair.
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