Stephens Inc. AR Raises Holdings in General Dynamics Co. (NYSE:GD)
Stephens Inc. AR increased its position in shares of General Dynamics Co. (NYSE:GD) by 6.0% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 35,150 shares of the aerospace company’s stock after purchasing an additional 1,991 shares during the quarter. Stephens Inc. AR’s holdings in General Dynamics were worth $6,391,000 as of its most recent filing with the SEC.
Other large investors also recently modified their holdings of the company. Harvest Group Wealth Management LLC purchased a new position in General Dynamics during the 1st quarter worth approximately $28,000. TCG Advisors LP acquired a new position in General Dynamics in the 1st quarter valued at about $38,000. Zions Bancorporation N.A. acquired a new position in General Dynamics in the 1st quarter valued at about $40,000. Princeton Global Asset Management LLC acquired a new position in General Dynamics in the 1st quarter valued at about $42,000. Finally, NEXT Financial Group Inc grew its stake in General Dynamics by 454.2% in the 2nd quarter. NEXT Financial Group Inc now owns 266 shares of the aerospace company’s stock valued at $48,000 after buying an additional 218 shares during the last quarter. Institutional investors own 86.84% of the company’s stock.
In other news, VP Gary L. Whited sold 14,029 shares of the stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $188.38, for a total transaction of $2,642,783.02. Following the transaction, the vice president now owns 37,542 shares in the company, valued at approximately $7,072,161.96. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director William A. Osborn sold 1,500 shares of the stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $182.56, for a total transaction of $273,840.00. Following the transaction, the director now owns 37,585 shares in the company, valued at approximately $6,861,517.60. The disclosure for this sale can be found here. Corporate insiders own 7.10% of the company’s stock.
General Dynamics (NYSE:GD) last announced its quarterly earnings results on Wednesday, July 24th. The aerospace company reported $2.77 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.68 by $0.09. General Dynamics had a net margin of 8.65% and a return on equity of 26.81%. The company had revenue of $9.56 billion for the quarter, compared to analyst estimates of $9.36 billion. During the same quarter in the prior year, the business posted $2.82 EPS. General Dynamics’s quarterly revenue was up 4.0% on a year-over-year basis. As a group, equities research analysts forecast that General Dynamics Co. will post 11.86 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 11th will be paid a dividend of $1.02 per share. The ex-dividend date of this dividend is Thursday, October 10th. This represents a $4.08 annualized dividend and a dividend yield of 2.23%. General Dynamics’s dividend payout ratio (DPR) is 35.73%.
GD has been the topic of a number of research reports. JPMorgan Chase & Co. upgraded shares of General Dynamics from an “underweight” rating to a “neutral” rating and upped their price target for the company from $188.00 to $200.00 in a research note on Thursday, April 25th. They noted that the move was a valuation call. Robert W. Baird increased their price objective on shares of General Dynamics from $188.00 to $218.00 and gave the company an “outperform” rating in a research report on Wednesday, July 10th. ValuEngine raised shares of General Dynamics from a “sell” rating to a “hold” rating in a research report on Thursday, June 6th. Goldman Sachs Group raised shares of General Dynamics from a “neutral” rating to a “buy” rating and set a $204.00 price objective on the stock in a research report on Sunday, May 19th. Finally, Zacks Investment Research raised shares of General Dynamics from a “hold” rating to a “buy” rating and set a $171.00 price objective on the stock in a research report on Monday, June 3rd. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and seven have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $191.47.
About General Dynamics
General Dynamics Corporation operates as an aerospace and defense company worldwide. It operates in five segments: Aerospace, Combat Systems, Information Technology, Mission Systems, and Marine Systems. The Aerospace segment designs, manufactures, and supports business-jet aircraft; and offers business-aviation services, including maintenance, fixed-base operation, government fleet, aircraft management, charter, and staffing services, as well as integrated aviation solutions.
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