Sanders Capital LLC Sells 1,221,176 Shares of General Dynamics Corp. (GD)
Sanders Capital LLC lowered its stake in General Dynamics Corp. (NYSE:GD) by 67.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 598,366 shares of the company’s stock after selling 1,221,176 shares during the period. Sanders Capital LLC owned 0.19% of General Dynamics Corp. worth $85,707,000 as of its most recent filing with the SEC.
Other institutional investors also recently bought and sold shares of the company. Sun Life Financial INC acquired a new stake in shares of General Dynamics Corp. during the first quarter worth $106,147,000. First New York Securities LLC NY acquired a new stake in shares of General Dynamics Corp. during the second quarter worth $139,000. Carroll Financial Associates Inc. raised its stake in shares of General Dynamics Corp. by 3.2% in the second quarter. Carroll Financial Associates Inc. now owns 1,283 shares of the company’s stock worth $178,000 after buying an additional 40 shares in the last quarter. Ariel Capital Advisors LLC acquired a new stake in shares of General Dynamics Corp. during the second quarter worth $207,000. Finally, Brookstone Capital Management acquired a new stake in shares of General Dynamics Corp. during the second quarter worth $233,000. Institutional investors and hedge funds own 87.68% of the company’s stock.
Shares of General Dynamics Corp. (NYSE:GD) traded down 0.77% during mid-day trading on Friday, hitting $152.96. The company had a trading volume of 2,063,652 shares. The company has a 50-day moving average price of $152.94 and a 200-day moving average price of $143.83. The company has a market capitalization of $46.57 billion, a price-to-earnings ratio of 16.27 and a beta of 0.76. General Dynamics Corp. has a 1-year low of $121.61 and a 1-year high of $156.97.
General Dynamics Corp. (NYSE:GD) last announced its quarterly earnings data on Wednesday, July 27th. The company reported $2.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.31 by $0.13. General Dynamics Corp. had a return on equity of 27.74% and a net margin of 9.53%. The company had revenue of $7.66 billion for the quarter, compared to analysts’ expectations of $7.88 billion. During the same quarter in the prior year, the firm earned $2.27 earnings per share. General Dynamics Corp.’s revenue was down 2.8% compared to the same quarter last year. On average, equities analysts anticipate that General Dynamics Corp. will post $9.73 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 10th. Investors of record on Friday, October 7th will be paid a $0.76 dividend. The ex-dividend date of this dividend is Wednesday, October 5th. This represents a $3.04 annualized dividend and a yield of 1.99%. General Dynamics Corp.’s dividend payout ratio (DPR) is currently 32.27%.
A number of research analysts have recently commented on GD shares. Jefferies Group restated a “buy” rating on shares of General Dynamics Corp. in a research note on Sunday, July 3rd. Zacks Investment Research upgraded General Dynamics Corp. from a “hold” rating to a “buy” rating and set a $159.00 target price for the company in a research note on Monday, July 18th. Argus raised their target price on General Dynamics Corp. from $160.00 to $165.00 and gave the company a “buy” rating in a research note on Tuesday, August 2nd. Sanford C. Bernstein upgraded General Dynamics Corp. from a “market perform” rating to an “outperform” rating and set a $180.00 target price for the company in a research note on Wednesday, August 10th. They noted that the move was a valuation call. Finally, Citigroup Inc. raised their target price on General Dynamics Corp. from $162.00 to $185.00 and gave the company a “buy” rating in a research note on Tuesday, September 6th. Two investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $159.27.
In other General Dynamics Corp. news, insider Robert W. Helm sold 87,790 shares of the company’s stock in a transaction on Monday, September 12th. The stock was sold at an average price of $150.91, for a total transaction of $13,248,388.90. Following the completion of the sale, the insider now owns 157,176 shares in the company, valued at $23,719,430.16. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Gregory S. Gallopoulos sold 39,000 shares of the company’s stock in a transaction on Friday, July 29th. The stock was sold at an average price of $146.58, for a total value of $5,716,620.00. Following the sale, the vice president now owns 153,848 shares of the company’s stock, valued at approximately $22,551,039.84. The disclosure for this sale can be found here. Company insiders own 6.80% of the company’s stock.
About General Dynamics Corp.
General Dynamics Corporation is an aerospace and defense company that offers a portfolio of products and services in business aviation; combat vehicles, weapons systems and munitions; command, control, communications, computers, intelligence, surveillance and reconnaissance (C4ISR) solutions and information technology (IT) services, and shipbuilding.
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