Contravisory Investment Management Inc. Sells 2,373 Shares of General Dynamics Co. (GD)
Contravisory Investment Management Inc. decreased its holdings in General Dynamics Co. (NYSE:GD) by 10.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 19,906 shares of the aerospace company’s stock after selling 2,373 shares during the period. Contravisory Investment Management Inc.’s holdings in General Dynamics were worth $4,050,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in the business. WFG Advisors LP raised its holdings in General Dynamics by 0.3% in the 2nd quarter. WFG Advisors LP now owns 668 shares of the aerospace company’s stock valued at $132,000 after acquiring an additional 2 shares during the last quarter. YorkBridge Wealth Partners LLC raised its holdings in General Dynamics by 0.5% in the 2nd quarter. YorkBridge Wealth Partners LLC now owns 992 shares of the aerospace company’s stock valued at $198,000 after acquiring an additional 5 shares during the last quarter. Pathstone Family Office LLC raised its holdings in General Dynamics by 100.0% in the 2nd quarter. Pathstone Family Office LLC now owns 24 shares of the aerospace company’s stock valued at $4,754,000 after acquiring an additional 12 shares during the last quarter. Comerica Securities Inc. raised its holdings in General Dynamics by 0.6% in the 2nd quarter. Comerica Securities Inc. now owns 2,350 shares of the aerospace company’s stock valued at $465,000 after acquiring an additional 15 shares during the last quarter. Finally, Bahl & Gaynor Inc. raised its holdings in General Dynamics by 0.4% in the 2nd quarter. Bahl & Gaynor Inc. now owns 4,413 shares of the aerospace company’s stock valued at $762,000 after acquiring an additional 17 shares during the last quarter. Institutional investors own 86.76% of the company’s stock.
In related news, insider John Patrick Casey sold 34,945 shares of General Dynamics stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $201.38, for a total value of $7,037,224.10. Following the completion of the sale, the insider now owns 144,378 shares in the company, valued at approximately $29,074,841.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Gregory S. Gallopoulos sold 78,370 shares of General Dynamics stock in a transaction that occurred on Monday, November 6th. The shares were sold at an average price of $202.93, for a total transaction of $15,903,624.10. The disclosure for this sale can be found here. 6.70% of the stock is currently owned by company insiders.
General Dynamics (NYSE:GD) last posted its earnings results on Wednesday, October 25th. The aerospace company reported $2.52 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.43 by $0.09. General Dynamics had a net margin of 9.94% and a return on equity of 27.98%. The firm had revenue of $7.58 billion during the quarter, compared to the consensus estimate of $7.94 billion. During the same quarter last year, the firm earned $2.36 EPS. The firm’s revenue for the quarter was down 1.0% on a year-over-year basis. equities research analysts forecast that General Dynamics Co. will post 9.8 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, February 9th. Investors of record on Friday, January 19th will be issued a $0.84 dividend. The ex-dividend date of this dividend is Thursday, January 18th. This represents a $3.36 annualized dividend and a yield of 1.62%. General Dynamics’s dividend payout ratio (DPR) is presently 33.37%.
A number of research firms have commented on GD. Cowen reiterated a “buy” rating and issued a $230.00 price objective on shares of General Dynamics in a report on Thursday, October 26th. ValuEngine downgraded shares of General Dynamics from a “buy” rating to a “hold” rating in a report on Tuesday, October 3rd. Zacks Investment Research upgraded shares of General Dynamics from a “hold” rating to a “buy” rating and set a $238.00 price target for the company in a report on Thursday, October 26th. Credit Suisse Group restated an “outperform” rating and set a $238.00 price target (up previously from $216.00) on shares of General Dynamics in a report on Thursday, October 26th. Finally, Jefferies Group restated a “buy” rating and set a $237.00 price target on shares of General Dynamics in a report on Monday, January 8th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and nine have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $218.92.
WARNING: This article was first published by The Cerbat Gem and is the property of of The Cerbat Gem. If you are accessing this article on another website, it was illegally copied and reposted in violation of U.S. and international trademark & copyright legislation. The correct version of this article can be viewed at https://www.thecerbatgem.com/2018/01/18/contravisory-investment-management-inc-sells-2373-shares-of-general-dynamics-co-gd.html.
General Dynamics 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.
Want to see what other hedge funds are holding GD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for General Dynamics Co. (NYSE:GD).
Receive News & Ratings for General Dynamics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for General Dynamics and related companies with MarketBeat.com's FREE daily email newsletter.