Balasa Dinverno & Foltz LLC Has $222,000 Position in General Dynamics Corporation (GD)
Balasa Dinverno & Foltz LLC raised its position in shares of General Dynamics Corporation (NYSE:GD) by 4.1% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 1,123 shares of the aerospace company’s stock after buying an additional 44 shares during the period. Balasa Dinverno & Foltz LLC’s holdings in General Dynamics Corporation were worth $222,000 at the end of the most recent reporting period.
A number of other hedge funds have also bought and sold shares of GD. Quadrant Capital Group LLC boosted its stake in 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 during the last quarter. Ruggie Capital Group acquired a new stake in General Dynamics Corporation during the first quarter worth $119,000. Pinnacle Bank acquired a new stake in General Dynamics Corporation during the first quarter worth $126,000. Zions Bancorporation boosted 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 worth $137,000 after buying an additional 4 shares during the last quarter. Finally, Global X Management Co. LLC boosted 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 worth $142,000 after buying an additional 284 shares during the last quarter. 87.52% of the stock is currently owned by institutional investors and hedge funds.
General Dynamics Corporation (NYSE:GD) opened at 197.89 on Friday. The stock’s 50 day moving average is $199.82 and its 200-day moving average is $193.74. The firm has a market capitalization of $59.33 billion, a price-to-earnings ratio of 19.55 and a beta of 0.71. General Dynamics Corporation has a 12 month low of $148.76 and a 12 month high of $205.90.
General Dynamics Corporation (NYSE:GD) last announced its quarterly earnings results on Wednesday, July 26th. The aerospace company reported $2.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.43 by $0.02. The company had revenue of $7.68 billion for the quarter, compared to analyst estimates of $7.76 billion. General Dynamics Corporation had a net margin of 9.63% and a return on equity of 28.17%. The firm’s revenue was down 1.3% on a year-over-year basis. During the same period in the previous year, the firm posted $2.30 EPS. Equities analysts anticipate that General Dynamics Corporation will post $9.82 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, November 10th. Investors of record on Friday, October 6th will be issued a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a dividend yield of 1.70%. The ex-dividend date of this dividend is Thursday, October 5th. General Dynamics Corporation’s dividend payout ratio (DPR) is presently 34.57%.
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Several brokerages have weighed in on GD. UBS AG reaffirmed a “buy” rating and set a $225.00 price objective (up from $215.00) on shares of General Dynamics Corporation in a research note on Monday, June 12th. BidaskClub raised shares of General Dynamics Corporation from a “hold” rating to a “buy” rating in a research note on Tuesday, August 8th. Jefferies Group LLC reaffirmed a “buy” rating on shares of General Dynamics Corporation in a research note on Friday. Citigroup Inc. upped their price objective on shares of General Dynamics Corporation from $207.00 to $210.00 and gave the stock a “neutral” rating in a research note on Friday. Finally, Morgan Stanley began coverage on shares of General Dynamics Corporation in a research note on Tuesday, August 8th. They set an “underweight” rating and a $185.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and eleven have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $206.59.
In related news, Director Lester L. Lyles sold 2,551 shares of General Dynamics Corporation stock in a transaction that occurred 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 sale, the director now directly owns 7,336 shares of the company’s stock, valued at approximately $1,437,929.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Christopher Marzilli sold 43,890 shares of General Dynamics Corporation stock in a transaction that occurred on Tuesday, May 30th. The shares were sold at an average price of $201.37, for a total transaction of $8,838,129.30. Following the sale, the vice president now directly owns 107,857 shares in the company, valued at $21,719,164.09. The disclosure for this sale can be found here. Insiders own 6.70% of the company’s stock.
General Dynamics Corporation Company Profile
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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