Fiduciary Trust Co. Boosts Position in General Dynamics Corporation (GD)
Fiduciary Trust Co. boosted its holdings in General Dynamics Corporation (NYSE:GD) by 12.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 71,983 shares of the aerospace company’s stock after purchasing an additional 7,954 shares during the quarter. Fiduciary Trust Co.’s holdings in General Dynamics Corporation were worth $14,798,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Quadrant Capital Group LLC boosted its holdings in General Dynamics Corporation by 6.1% during the 2nd quarter. Quadrant Capital Group LLC now owns 645 shares of the aerospace company’s stock worth $110,000 after acquiring an additional 37 shares during the last quarter. Vantage Investment Advisors LLC boosted its holdings in General Dynamics Corporation by 9.3% during the 2nd quarter. Vantage Investment Advisors LLC now owns 585 shares of the aerospace company’s stock worth $116,000 after acquiring an additional 50 shares during the last quarter. Captrust Financial Advisors purchased a new position in General Dynamics Corporation during the 2nd quarter worth $129,000. WFG Advisors LP boosted its holdings in General Dynamics Corporation by 0.3% during the 2nd quarter. WFG Advisors LP now owns 668 shares of the aerospace company’s stock worth $132,000 after acquiring an additional 2 shares during the last quarter. Finally, Zions Bancorporation boosted its holdings in General Dynamics Corporation by 0.5% during the 1st quarter. Zions Bancorporation now owns 732 shares of the aerospace company’s stock worth $137,000 after acquiring an additional 4 shares during the last quarter. 86.32% of the stock is owned by institutional investors and hedge funds.
A number of equities analysts have issued reports on GD shares. ValuEngine raised shares of General Dynamics Corporation from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Cowen and Company reissued a “buy” rating and issued a $210.00 price target on shares of General Dynamics Corporation in a report on Monday, July 17th. BidaskClub raised shares of General Dynamics Corporation from a “buy” rating to a “strong-buy” rating in a report on Tuesday, July 25th. Zacks Investment Research downgraded shares of General Dynamics Corporation from a “buy” rating to a “hold” rating in a report on Monday, October 16th. Finally, Credit Suisse Group reissued an “outperform” rating and issued a $238.00 price target (up from $216.00) on shares of General Dynamics Corporation in a report on Thursday, October 26th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and ten have given a buy rating to the company. General Dynamics Corporation currently has a consensus rating of “Hold” and an average price target of $217.19.
In other news, insider John Patrick Casey sold 34,945 shares of the company’s stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $201.38, for a total transaction of $7,037,224.10. Following the sale, the insider now directly owns 144,378 shares in the company, valued at $29,074,841.64. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, VP Gregory S. Gallopoulos sold 78,370 shares of the company’s stock in a transaction dated Monday, November 6th. The shares were sold at an average price of $202.93, for a total value of $15,903,624.10. The disclosure for this sale can be found here. Corporate insiders own 6.70% of the company’s stock.
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Shares of General Dynamics Corporation (NYSE GD) traded down $0.68 during trading on Wednesday, reaching $203.08. The company had a trading volume of 426,923 shares, compared to its average volume of 1,030,939. General Dynamics Corporation has a fifty-two week low of $150.90 and a fifty-two week high of $214.81. The company has a market cap of $60,424.22, a PE ratio of 20.10, a P/E/G ratio of 2.42 and a beta of 0.73. The company has a quick ratio of 0.93, a current ratio of 1.37 and a debt-to-equity ratio of 0.34.
General Dynamics Corporation (NYSE:GD) last announced its quarterly earnings data on Wednesday, October 25th. The aerospace company reported $2.52 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.43 by $0.09. General Dynamics Corporation had a return on equity of 27.98% and a net margin of 9.94%. The business had revenue of $7.58 billion for the quarter, compared to analysts’ expectations of $7.94 billion. During the same period in the previous year, the business posted $2.36 EPS. The firm’s quarterly revenue was down 1.0% compared to the same quarter last year. research analysts predict that General Dynamics Corporation will post 9.81 earnings per share for the current fiscal year.
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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