General Dynamics Corp. (GD) Stake Cut by BNP Paribas Arbitrage SA
BNP Paribas Arbitrage SA reduced its position in General Dynamics Corp. (NYSE:GD) by 41.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,147 shares of the company’s stock after selling 18,537 shares during the period. BNP Paribas Arbitrage SA’s holdings in General Dynamics Corp. were worth $4,057,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in GD. WFG Advisors LP increased its stake in shares of General Dynamics Corp. by 0.3% in the second quarter. WFG Advisors LP now owns 753 shares of the company’s stock worth $105,000 after buying an additional 2 shares during the last quarter. Signaturefd LLC increased its stake in shares of General Dynamics Corp. by 5.7% in the second quarter. Signaturefd LLC now owns 818 shares of the company’s stock worth $114,000 after buying an additional 44 shares during the last quarter. Compagnie Lombard Odier SCmA increased its stake in shares of General Dynamics Corp. by 820.0% in the second quarter. Compagnie Lombard Odier SCmA now owns 920 shares of the company’s stock worth $128,000 after buying an additional 820 shares during the last quarter. Bellwether Investment Group LLC bought a new stake in shares of General Dynamics Corp. during the second quarter worth $136,000. Finally, First New York Securities LLC NY bought a new stake in shares of General Dynamics Corp. during the second quarter worth $139,000. Institutional investors and hedge funds own 87.01% of the company’s stock.
General Dynamics Corp. (NYSE:GD) traded up 0.34% during mid-day trading on Monday, hitting $172.67. The stock had a trading volume of 1,835,445 shares. The firm has a market cap of $52.48 billion, a P/E ratio of 18.48 and a beta of 0.69. The stock has a 50-day moving average price of $156.87 and a 200 day moving average price of $149.06. General Dynamics Corp. has a 12-month low of $121.61 and a 12-month high of $173.55.
General Dynamics Corp. (NYSE:GD) last released its quarterly earnings data on Wednesday, October 26th. The company reported $2.48 EPS for the quarter, beating analysts’ consensus estimates of $2.38 by $0.10. General Dynamics Corp. had a return on equity of 27.68% and a net margin of 9.45%. The business had revenue of $7.73 billion for the quarter, compared to the consensus estimate of $7.91 billion. During the same quarter in the prior year, the business posted $2.28 EPS. The business’s revenue for the quarter was down 3.3% on a year-over-year basis. Equities analysts anticipate that General Dynamics Corp. will post $9.77 EPS for the current fiscal year.
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A number of equities research analysts recently weighed in on the company. Argus raised their price objective on General Dynamics Corp. from $160.00 to $165.00 and gave the company a “buy” rating in a research report on Tuesday, August 2nd. Jefferies Group reaffirmed a “buy” rating on shares of General Dynamics Corp. in a research report on Wednesday, August 3rd. Sanford C. Bernstein raised General Dynamics Corp. from a “market perform” rating to an “outperform” rating and set a $180.00 price objective on the stock in a research report on Wednesday, August 10th. They noted that the move was a valuation call. Vertical Research assumed coverage on General Dynamics Corp. in a research report on Friday, October 28th. They set a “buy” rating and a $176.00 price objective on the stock. Finally, Vetr downgraded General Dynamics Corp. from a “strong-buy” rating to a “buy” rating and set a $168.30 price target for the company. in a report on Monday, October 24th. Two analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $161.37.
In related news, VP Kimberly A. Kuryea sold 4,117 shares of the company’s stock in a transaction dated Tuesday, September 6th. The stock was sold at an average price of $154.56, for a total value of $636,323.52. Following the completion of the sale, the vice president now directly owns 36,412 shares of the company’s stock, valued at approximately $5,627,838.72. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Robert W. Helm sold 87,790 shares of the company’s stock in a transaction dated Monday, September 12th. The shares were sold at an average price of $150.91, for a total value of $13,248,388.90. Following the completion of the sale, the insider now directly owns 157,176 shares of the company’s stock, valued at $23,719,430.16. The disclosure for this sale can be found here. 6.80% of the stock is owned by insiders.
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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