Capital One National Association Cuts Position in General Dynamics Corporation (GD)
Capital One National Association cut its position in shares of General Dynamics Corporation (NYSE:GD) by 4.4% during the second quarter, Holdings Channel reports. The institutional investor owned 36,781 shares of the aerospace company’s stock after selling 1,691 shares during the period. Capital One National Association’s holdings in General Dynamics Corporation were worth $7,286,000 as of its most recent filing with the SEC.
Several other institutional investors have also modified their holdings of GD. Quadrant Capital Group LLC increased its position in shares of General Dynamics Corporation by 0.7% in the first quarter. Quadrant Capital Group LLC now owns 608 shares of the aerospace company’s stock worth $108,000 after buying an additional 4 shares in the last quarter. Ruggie Capital Group acquired a new position in shares of General Dynamics Corporation during the first quarter worth approximately $119,000. Pinnacle Bank purchased a new stake in General Dynamics Corporation during the first quarter valued at about $126,000. Zions Bancorporation increased its stake in General Dynamics Corporation by 0.5% in the first quarter. Zions Bancorporation now owns 732 shares of the aerospace company’s stock valued at $137,000 after buying an additional 4 shares during the period. Finally, Global X Management Co. LLC increased its stake in General Dynamics Corporation by 59.8% in the first quarter. Global X Management Co. LLC now owns 759 shares of the aerospace company’s stock valued at $142,000 after buying an additional 284 shares during the period. 87.52% of the stock is currently owned by institutional investors and hedge funds.
Shares of General Dynamics Corporation (NYSE GD) traded down 0.20% on Friday, reaching $197.89. 1,105,954 shares of the company’s stock traded hands. The firm has a market capitalization of $59.33 billion, a P/E ratio of 19.55 and a beta of 0.71. General Dynamics Corporation has a 52 week low of $148.76 and a 52 week high of $205.90. The company’s 50-day moving average is $199.82 and its 200-day moving average is $193.74.
General Dynamics Corporation (NYSE:GD) last released its earnings results on Wednesday, July 26th. The aerospace company reported $2.45 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.43 by $0.02. The firm had revenue of $7.68 billion during the quarter, compared to analysts’ expectations of $7.76 billion. General Dynamics Corporation had a net margin of 9.63% and a return on equity of 28.17%. The business’s quarterly revenue was down 1.3% compared to the same quarter last year. During the same period in the prior year, the company earned $2.30 EPS. Equities research analysts anticipate that General Dynamics Corporation will post $9.82 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, November 10th. Shareholders of record on Friday, October 6th will be issued a $0.84 dividend. This represents a $3.36 annualized dividend and a yield of 1.70%. The ex-dividend date is Thursday, October 5th. General Dynamics Corporation’s dividend payout ratio (DPR) is presently 34.57%.
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GD has been the topic of several analyst reports. Cowen and Company reaffirmed an “outperform” rating and set a $207.00 price target on shares of General Dynamics Corporation in a research note on Monday, April 17th. Jefferies Group LLC reaffirmed a “buy” rating and set a $200.00 price target on shares of General Dynamics Corporation in a research note on Tuesday, April 18th. Vetr downgraded 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 research note on Monday, April 24th. Royal Bank Of Canada lifted their price target on shares of General Dynamics Corporation from $211.00 to $220.00 and gave the stock an “outperform” rating in a research note on Thursday, April 27th. Finally, Stifel Nicolaus lifted their price target on shares of General Dynamics Corporation from $173.00 to $200.00 and gave the stock a “hold” rating in a research note on Thursday, April 27th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and eleven have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $206.59.
In other General Dynamics Corporation news, VP Christopher Marzilli sold 43,890 shares of the business’s stock in a transaction on Tuesday, May 30th. The shares were sold at an average price of $201.37, for a total value of $8,838,129.30. Following the sale, the vice president now owns 107,857 shares of the company’s stock, valued at approximately $21,719,164.09. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Lester L. Lyles sold 2,551 shares of the business’s stock in a transaction on Friday, May 19th. The shares were sold at an average price of $196.01, for a total transaction of $500,021.51. Following the completion of the sale, the director now directly owns 7,336 shares in the company, valued at approximately $1,437,929.36. The disclosure for this sale can be found here. Insiders own 6.70% of the company’s stock.
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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