Callahan Advisors LLC Sells 23 Shares of General Dynamics Corporation (GD)
Callahan Advisors LLC cut its position in shares of General Dynamics Corporation (NYSE:GD) by 0.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,644 shares of the aerospace company’s stock after selling 23 shares during the period. Callahan Advisors LLC’s holdings in General Dynamics Corporation were worth $1,118,000 as of its most recent SEC filing.
Several other large investors also recently bought and sold shares of the stock. Ruggie Capital Group bought a new stake in General Dynamics Corporation during the first quarter worth about $119,000. Zions Bancorporation raised its stake in General Dynamics Corporation by 0.5% in the first quarter. Zions Bancorporation now owns 732 shares of the aerospace company’s stock worth $137,000 after buying an additional 4 shares during the period. Global X Management Co. LLC raised its stake in 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 during the period. Central Bank & Trust Co. raised its stake in 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 during the period. Finally, First Command Bank raised its stake in General Dynamics Corporation by 31.3% in the second quarter. First Command Bank now owns 952 shares of the aerospace company’s stock worth $189,000 after buying an additional 227 shares during the period. Institutional investors and hedge funds own 86.19% of the company’s stock.
Shares of General Dynamics Corporation (NYSE GD) opened at 199.05 on Monday. The firm’s 50-day moving average price is $199.81 and its 200 day moving average price is $195.09. The company has a market cap of $59.67 billion, a P/E ratio of 19.67 and a beta of 0.71. General Dynamics Corporation has a 52 week low of $148.76 and a 52 week high of $205.90.
General Dynamics Corporation (NYSE:GD) last announced its quarterly earnings data 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 business had revenue of $7.68 billion for the quarter, compared to analysts’ expectations of $7.76 billion. General Dynamics Corporation had a net margin of 9.63% and a return on equity of 28.17%. The firm’s quarterly revenue was down 1.3% compared to the same quarter last year. During the same period last year, the firm posted $2.30 earnings per share. On average, equities analysts predict that General Dynamics Corporation will post $9.81 EPS for the current fiscal 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 paid a $0.84 dividend. The ex-dividend date of this dividend is Thursday, October 5th. This represents a $3.36 dividend on an annualized basis and a yield of 1.69%. General Dynamics Corporation’s dividend payout ratio (DPR) is 34.57%.
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A number of equities research analysts have weighed in on the company. Jefferies Group LLC restated a “buy” rating and set a $220.00 price objective on shares of General Dynamics Corporation in a research note on Friday, July 7th. BidaskClub lowered General Dynamics Corporation from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, June 27th. Zacks Investment Research upgraded General Dynamics Corporation from a “hold” rating to a “buy” rating and set a $224.00 price objective for the company in a research note on Tuesday, June 27th. UBS AG restated a “buy” rating and set a $225.00 price objective (up previously from $215.00) on shares of General Dynamics Corporation in a research note on Monday, June 12th. Finally, Royal Bank Of Canada restated a “buy” rating and set a $220.00 price objective on shares of General Dynamics Corporation in a research note on Friday, June 2nd. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and eleven have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $206.59.
In related news, VP Christopher Marzilli sold 43,890 shares of General Dynamics Corporation stock in a transaction that occurred on 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 transaction, the vice president now directly owns 107,857 shares of the company’s stock, valued at $21,719,164.09. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 6.70% of the company’s stock.
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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