Daiwa Securities Group Inc. Has $6,734,000 Stake in General Dynamics Corp. (GD)
Daiwa Securities Group Inc. decreased its position in General Dynamics Corp. (NYSE:GD) by 6.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 43,400 shares of the company’s stock after selling 2,830 shares during the period. Daiwa Securities Group Inc.’s holdings in General Dynamics Corp. were worth $6,734,000 at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of GD. WFG Advisors LP boosted its stake in 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. Alpha Windward LLC boosted its stake in General Dynamics Corp. by 0.3% in the third quarter. Alpha Windward LLC now owns 1,936 shares of the company’s stock worth $300,000 after buying an additional 6 shares during the last quarter. Sunbelt Securities Inc. boosted its stake in General Dynamics Corp. by 0.5% in the second quarter. Sunbelt Securities Inc. now owns 1,375 shares of the company’s stock worth $191,000 after buying an additional 7 shares during the last quarter. Shelton Capital Management boosted its stake in General Dynamics Corp. by 0.3% in the second quarter. Shelton Capital Management now owns 3,650 shares of the company’s stock worth $508,000 after buying an additional 10 shares during the last quarter. Finally, Thomaspartners Inc. boosted its stake in General Dynamics Corp. by 0.5% in the second quarter. Thomaspartners Inc. now owns 2,333 shares of the company’s stock worth $325,000 after buying an additional 11 shares during the last quarter. 87.01% of the stock is currently owned by hedge funds and other institutional investors.
Shares of General Dynamics Corp. (NYSE:GD) traded up 1.42% during mid-day trading on Tuesday, reaching $175.13. The company’s stock had a trading volume of 1,133,499 shares. The stock has a market capitalization of $53.23 billion, a P/E ratio of 18.74 and a beta of 0.69. The company’s 50-day moving average price is $157.43 and its 200-day moving average price is $149.31. General Dynamics Corp. has a 12-month low of $121.61 and a 12-month high of $175.70.
General Dynamics Corp. (NYSE:GD) last announced its earnings results on Wednesday, October 26th. The company reported $2.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.38 by $0.10. The business had revenue of $7.73 billion for the quarter, compared to analysts’ expectations of $7.91 billion. General Dynamics Corp. had a return on equity of 27.68% and a net margin of 9.45%. The business’s revenue for the quarter was down 3.3% on a year-over-year basis. During the same period last year, the firm posted $2.28 earnings per share. On average, equities research analysts forecast that General Dynamics Corp. will post $9.77 earnings per share for the current fiscal year.
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A number of equities research analysts have recently commented on the company. Argus lifted their target price on General Dynamics Corp. from $160.00 to $165.00 and gave the stock a “buy” rating in a research note on Tuesday, August 2nd. Jefferies Group reiterated a “buy” rating on shares of General Dynamics Corp. in a research note on Wednesday, August 3rd. Sanford C. Bernstein upgraded 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 note on Wednesday, August 10th. They noted that the move was a valuation call. Vertical Research began coverage on General Dynamics Corp. in a research note on Friday, October 28th. They issued a “buy” rating and a $176.00 price objective on the stock. Finally, Vetr cut General Dynamics Corp. from a “strong-buy” rating to a “buy” rating and set a $168.30 price objective on the stock. in a research note on Monday, October 24th. Two equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $161.37.
In other news, insider Robert W. Helm sold 87,790 shares of the firm’s stock in a transaction dated Monday, September 12th. The stock was sold at an average price of $150.91, for a total value of $13,248,388.90. Following the transaction, the insider now owns 157,176 shares of the company’s stock, valued at $23,719,430.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Kimberly A. Kuryea sold 4,117 shares of the firm’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 transaction, the vice president now directly owns 36,412 shares in the company, valued at approximately $5,627,838.72. The disclosure for this sale can be found here. 6.80% of the stock is owned by company 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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