General Dynamics Corporation (NYSE:GD) is Ibex Wealth Advisors’ 9th Largest Position
Ibex Wealth Advisors raised its position in shares of General Dynamics Corporation (NYSE:GD) by 3.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 24,027 shares of the aerospace company’s stock after buying an additional 823 shares during the period. General Dynamics Corporation comprises 2.8% of Ibex Wealth Advisors’ investment portfolio, making the stock its 9th largest position. Ibex Wealth Advisors’ holdings in General Dynamics Corporation were worth $4,465,000 as of its most recent SEC filing.
Other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. increased its stake in General Dynamics Corporation by 4.7% in the first quarter. Vanguard Group Inc. now owns 19,799,817 shares of the aerospace company’s stock worth $3,706,525,000 after buying an additional 894,177 shares during the period. BlackRock Inc. increased its stake in General Dynamics Corporation by 2,645.5% in the first quarter. BlackRock Inc. now owns 15,509,344 shares of the aerospace company’s stock worth $2,903,351,000 after buying an additional 14,944,453 shares during the period. Janus Capital Management LLC increased its stake in General Dynamics Corporation by 22.1% in the first quarter. Janus Capital Management LLC now owns 4,148,390 shares of the aerospace company’s stock worth $776,563,000 after buying an additional 749,793 shares during the period. Geode Capital Management LLC increased its stake in General Dynamics Corporation by 5.1% in the first quarter. Geode Capital Management LLC now owns 2,920,756 shares of the aerospace company’s stock worth $546,040,000 after buying an additional 141,305 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in General Dynamics Corporation by 8.3% in the first quarter. Bank of New York Mellon Corp now owns 2,801,405 shares of the aerospace company’s stock worth $524,423,000 after buying an additional 214,825 shares during the period. Hedge funds and other institutional investors own 87.52% of the company’s stock.
General Dynamics Corporation (GD) traded up 0.62% during trading on Monday, hitting $201.31. The stock had a trading volume of 317,262 shares. The firm’s 50-day moving average price is $200.54 and its 200-day moving average price is $192.80. General Dynamics Corporation has a 1-year low of $147.45 and a 1-year high of $205.90. The stock has a market cap of $60.35 billion, a PE ratio of 19.89 and a beta of 0.71.
General Dynamics Corporation (NYSE:GD) last issued its quarterly earnings results on Wednesday, July 26th. The aerospace company reported $2.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.43 by $0.02. The firm had revenue of $7.68 billion during the quarter, compared to analyst estimates of $7.76 billion. General Dynamics Corporation had a return on equity of 28.17% and a net margin of 9.63%. The firm’s quarterly revenue was down 1.3% on a year-over-year basis. During the same period last year, the company posted $2.30 EPS. On average, equities research analysts predict that General Dynamics Corporation will post $9.82 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, November 10th. Shareholders of record on Friday, October 6th will be paid a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a yield of 1.68%. The ex-dividend date is Thursday, October 5th. General Dynamics Corporation’s payout ratio is currently 34.57%.
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GD has been the topic of a number of analyst reports. ValuEngine upgraded General Dynamics Corporation from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. Stifel Nicolaus lifted their price target on General Dynamics Corporation from $173.00 to $200.00 and gave the company a “hold” rating in a research note on Thursday, April 27th. Zacks Investment Research downgraded General Dynamics Corporation from a “buy” rating to a “hold” rating in a research note on Friday, July 28th. Barclays PLC restated an “overweight” rating and issued a $210.00 price target (up from $200.00) on shares of General Dynamics Corporation in a research note on Monday, May 1st. Finally, Jefferies Group LLC reaffirmed a “buy” rating and set a $220.00 price objective on shares of General Dynamics Corporation in a report on Friday, July 7th. One analyst has rated the stock with a sell rating, four have given a hold rating and eleven have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $207.56.
In other news, Director Lester L. Lyles sold 2,551 shares of the firm’s stock in a transaction on Friday, May 19th. The stock was sold at an average price of $196.01, for a total transaction of $500,021.51. Following the completion of the sale, the director now directly owns 7,336 shares of the company’s stock, valued at approximately $1,437,929.36. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Christopher Marzilli sold 43,890 shares of the firm’s stock in a transaction on Tuesday, May 30th. The stock was sold at an average price of $201.37, for a total value of $8,838,129.30. Following the sale, the vice president now directly owns 107,857 shares of the company’s stock, valued at $21,719,164.09. The disclosure for this sale can be found here. Company insiders own 6.70% of the company’s stock.
About General Dynamics Corporation
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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