Bluestein R H & Co. Takes Position in General Dynamics Corporation (NYSE:GD)
Bluestein R H & Co. bought a new position in shares of General Dynamics Corporation (NYSE:GD) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 2,550 shares of the aerospace company’s stock, valued at approximately $477,000.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Quadrant Capital Group LLC raised its position 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 last quarter. Ruggie Capital Group bought a new position in General Dynamics Corporation during the first quarter worth about $119,000. Pinnacle Bank bought a new position in General Dynamics Corporation during the first quarter worth about $126,000. Global X Management Co. LLC raised its position in shares of General Dynamics Corporation by 59.8% in the first quarter. Global X Management Co. LLC now owns 759 shares of the aerospace company’s stock worth $142,000 after buying an additional 284 shares in the last quarter. Finally, Central Bank & Trust Co. raised 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 worth $164,000 after buying an additional 221 shares in the last quarter. 86.77% of the stock is currently owned by institutional investors and hedge funds.
General Dynamics Corporation (NYSE:GD) traded up 0.37% during trading on Friday, reaching $198.73. The company had a trading volume of 1,581,719 shares. The firm has a market capitalization of $59.58 billion, a price-to-earnings ratio of 19.63 and a beta of 0.71. The stock has a 50 day moving average price of $199.79 and a 200 day moving average price of $194.45. General Dynamics Corporation has a 12 month low of $148.76 and a 12 month high of $205.90.
General Dynamics Corporation (NYSE:GD) last issued its earnings results on Wednesday, July 26th. The aerospace company reported $2.45 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.43 by $0.02. The business had revenue of $7.68 billion during the quarter, compared to analysts’ expectations of $7.76 billion. General Dynamics Corporation had a return on equity of 28.17% and a net margin of 9.63%. General Dynamics Corporation’s revenue was down 1.3% compared to the same quarter last year. During the same quarter last year, the firm posted $2.30 earnings per share. On average, equities research analysts predict that General Dynamics Corporation will post $9.81 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 10th. Investors of record on Friday, October 6th will be given a dividend of $0.84 per share. The ex-dividend date is Thursday, October 5th. This represents a $3.36 dividend on an annualized basis and a yield of 1.69%. General Dynamics Corporation’s payout ratio is 34.57%.
A number of brokerages recently weighed in on GD. Zacks Investment Research raised General Dynamics Corporation from a “hold” rating to a “buy” rating and set a $224.00 price objective on the stock in a report on Tuesday, June 27th. BidaskClub lowered General Dynamics Corporation from a “strong-buy” rating to a “buy” rating in a report on Sunday, July 16th. Royal Bank Of Canada upped their price objective on General Dynamics Corporation from $211.00 to $220.00 and gave the stock an “outperform” rating in a report on Thursday, April 27th. Morgan Stanley began coverage on General Dynamics Corporation in a report on Tuesday, August 8th. They set an “underweight” rating and a $185.00 price objective on the stock. Finally, Jefferies Group LLC reaffirmed a “buy” rating and set a $220.00 price objective (up previously from $200.00) on shares of General Dynamics Corporation in a report on Friday, April 28th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and eleven have given a buy rating to the company. General Dynamics Corporation presently has a consensus rating of “Buy” and a consensus price target of $206.59.
In related news, VP Christopher Marzilli sold 43,890 shares of General Dynamics Corporation stock in a transaction on Tuesday, May 30th. The stock was sold at an average price of $201.37, for a total transaction of $8,838,129.30. Following the completion of the sale, the vice president now owns 107,857 shares of the company’s stock, valued at $21,719,164.09. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 6.70% of the stock is currently owned by company insiders.
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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