Cadence Capital Management LLC Decreases Position in General Dynamics Corporation (NYSE:GD)
Cadence Capital Management LLC decreased its position in General Dynamics Corporation (NYSE:GD) by 3.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,415 shares of the aerospace company’s stock after selling 195 shares during the period. Cadence Capital Management LLC’s holdings in General Dynamics Corporation were worth $1,201,000 as of its most recent filing with the SEC.
Several other large investors also recently modified their holdings of the company. Quadrant Capital Group LLC boosted its stake in General Dynamics Corporation by 0.7% in the first quarter. Quadrant Capital Group LLC now owns 608 shares of the aerospace company’s stock worth $108,000 after buying an additional 4 shares during the period. Ruggie Capital Group purchased a new position in shares of General Dynamics Corporation during the first quarter valued at about $119,000. Pinnacle Bank purchased a new position in shares of General Dynamics Corporation during the first quarter valued at about $126,000. Archford Capital Strategies LLC boosted its position in shares of General Dynamics Corporation by 74.2% in the fourth quarter. Archford Capital Strategies LLC now owns 810 shares of the aerospace company’s stock valued at $139,000 after buying an additional 345 shares during the last quarter. Finally, Central Bank & Trust Co. boosted its position in shares of General Dynamics Corporation by 33.9% in the first quarter. Central Bank & Trust Co. now owns 872 shares of the aerospace company’s stock valued at $164,000 after buying an additional 221 shares during the last quarter. Hedge funds and other institutional investors own 86.77% of the company’s stock.
General Dynamics Corporation (NYSE GD) traded up 0.37% during mid-day trading on Friday, reaching $200.07. The company’s stock had a trading volume of 1,247,145 shares. General Dynamics Corporation has a 12 month low of $146.82 and a 12 month high of $205.90. The stock’s 50-day moving average is $200.54 and its 200-day moving average is $192.80. The firm has a market capitalization of $59.98 billion, a PE ratio of 19.77 and a beta of 0.71.
General Dynamics Corporation (NYSE:GD) last announced its quarterly earnings data on Wednesday, July 26th. The aerospace company reported $2.45 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.43 by $0.02. The business had revenue of $7.68 billion for the quarter, compared to analyst estimates of $7.76 billion. General Dynamics Corporation had a net margin of 9.63% and a return on equity of 28.17%. General Dynamics Corporation’s revenue was down 1.3% compared to the same quarter last year. During the same period in the prior year, the business posted $2.30 earnings per share. On average, equities analysts anticipate that General Dynamics Corporation will post $9.82 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 10th. Stockholders of record on Friday, October 6th will be given a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a dividend yield of 1.68%. The ex-dividend date of this dividend is Thursday, October 5th. General Dynamics Corporation’s dividend payout ratio is 34.57%.
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Several analysts have commented on GD shares. Cowen and Company reissued an “outperform” rating and issued a $207.00 price objective on shares of General Dynamics Corporation in a report on Monday, April 17th. Zacks Investment Research raised General Dynamics Corporation from a “hold” rating to a “buy” rating and set a $224.00 price target on the stock in a research note on Tuesday, June 27th. BidaskClub lowered General Dynamics Corporation from a “strong-buy” rating to a “buy” rating in a research note on Sunday, July 16th. Royal Bank Of Canada lifted their price objective on General Dynamics Corporation from $211.00 to $220.00 and gave the stock an “outperform” rating in a research report on Thursday, April 27th. Finally, Jefferies Group LLC reiterated a “buy” rating and set a $220.00 price objective (up previously from $200.00) on shares of General Dynamics Corporation in a research report on Friday, April 28th. One research analyst has rated the stock with a sell rating, four have given a hold rating and eleven have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $207.56.
In other news, VP Christopher Marzilli sold 43,890 shares of General Dynamics Corporation stock in a transaction dated Tuesday, May 30th. The shares were sold at an average price of $201.37, for a total value of $8,838,129.30. Following the completion of the transaction, the vice president now owns 107,857 shares of the company’s stock, valued at approximately $21,719,164.09. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Lester L. Lyles sold 2,551 shares of General Dynamics Corporation stock in a transaction dated Friday, May 19th. The shares were sold at an average price of $196.01, for a total transaction of $500,021.51. Following the completion of the transaction, the director now directly owns 7,336 shares of the company’s stock, valued at approximately $1,437,929.36. The disclosure for this sale can be found here. 6.70% of the stock is owned by corporate insiders.
General Dynamics Corporation 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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