Investors Sell General Dynamics (GD) on Strength (GD)
Investors sold shares of General Dynamics Corporation (NYSE:GD) on strength during trading hours on Wednesday. $42.61 million flowed into the stock on the tick-up and $96.43 million flowed out of the stock on the tick-down, for a money net flow of $53.82 million out of the stock. Of all equities tracked, General Dynamics had the 0th highest net out-flow for the day. General Dynamics traded up $0.30 for the day and closed at $200.21
A number of research firms recently commented on GD. Zacks Investment Research cut shares of General Dynamics from a “buy” rating to a “hold” rating in a research report on Monday, October 16th. Citigroup reissued a “neutral” rating and set a $215.00 target price (up previously from $210.00) on shares of General Dynamics in a research report on Monday, October 9th. ValuEngine cut shares of General Dynamics from a “buy” rating to a “hold” rating in a research report on Tuesday, October 3rd. Cowen reissued a “buy” rating and set a $230.00 target price on shares of General Dynamics in a research report on Thursday, October 19th. Finally, Jefferies Group reissued a “buy” rating and set a $236.00 target price on shares of General Dynamics in a research report on Thursday, October 26th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and nine have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $218.45.
The stock has a market capitalization of $60,221.19, a price-to-earnings ratio of 20.03, a PEG ratio of 2.42 and a beta of 0.72. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.37 and a quick ratio of 0.93.
General Dynamics (NYSE:GD) last posted its quarterly earnings results on Wednesday, October 25th. The aerospace company reported $2.52 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.43 by $0.09. The business had revenue of $7.58 billion during the quarter, compared to analysts’ expectations of $7.94 billion. General Dynamics had a net margin of 9.94% and a return on equity of 27.98%. The business’s quarterly revenue was down 1.0% on a year-over-year basis. During the same quarter last year, the company posted $2.36 earnings per share. research analysts anticipate that General Dynamics Corporation will post 9.81 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, February 9th. Shareholders of record on Friday, January 19th will be issued a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a dividend yield of 1.68%. General Dynamics’s dividend payout ratio is currently 33.50%.
In other news, insider John Patrick Casey sold 34,945 shares of the stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $201.38, for a total value of $7,037,224.10. Following the sale, the insider now owns 144,378 shares in the company, valued at $29,074,841.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Gregory S. Gallopoulos sold 78,370 shares of the stock in a transaction on Monday, November 6th. The stock was sold at an average price of $202.93, for a total transaction of $15,903,624.10. The disclosure for this sale can be found here. 6.70% of the stock is owned by corporate insiders.
Large investors have recently added to or reduced their stakes in the company. Pathstone Family Office LLC increased its stake in shares of General Dynamics by 100.0% in the second quarter. Pathstone Family Office LLC now owns 24 shares of the aerospace company’s stock worth $4,754,000 after acquiring an additional 12 shares during the period. Vantage Investment Advisors LLC grew its position in General Dynamics by 9.3% during the second quarter. Vantage Investment Advisors LLC now owns 585 shares of the aerospace company’s stock valued at $116,000 after buying an additional 50 shares during the period. Quadrant Capital Group LLC grew its position in General Dynamics by 6.1% during the second quarter. Quadrant Capital Group LLC now owns 645 shares of the aerospace company’s stock valued at $110,000 after buying an additional 37 shares during the period. Captrust Financial Advisors acquired a new stake in General Dynamics during the second quarter valued at $129,000. Finally, WFG Advisors LP grew its position in General Dynamics by 0.3% during the second quarter. WFG Advisors LP now owns 668 shares of the aerospace company’s stock valued at $132,000 after buying an additional 2 shares during the period. Hedge funds and other institutional investors own 86.87% of the company’s stock.
General Dynamics 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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