General Dynamics Co. (GD) Shares Bought by Cedar Hill Associates LLC
Cedar Hill Associates LLC raised its stake in General Dynamics Co. (NYSE:GD) by 32.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,617 shares of the aerospace company’s stock after buying an additional 394 shares during the period. Cedar Hill Associates LLC’s holdings in General Dynamics were worth $301,000 at the end of the most recent quarter.
Other large investors also recently modified their holdings of the company. CX Institutional bought a new position in shares of General Dynamics in the 2nd quarter worth $107,000. Dubuque Bank & Trust Co. boosted its stake in shares of General Dynamics by 230.7% in the 1st quarter. Dubuque Bank & Trust Co. now owns 496 shares of the aerospace company’s stock valued at $109,000 after purchasing an additional 346 shares in the last quarter. James Investment Research Inc. purchased a new stake in shares of General Dynamics in the 2nd quarter valued at $112,000. Optimum Investment Advisors purchased a new stake in shares of General Dynamics in the 1st quarter valued at $134,000. Finally, BerganKDV Wealth Management LLC purchased a new stake in shares of General Dynamics in the 2nd quarter valued at $114,000. 85.77% of the stock is currently owned by hedge funds and other institutional investors.
In other General Dynamics news, insider John Patrick Casey sold 22,500 shares of the stock in a transaction on Monday, July 16th. The shares were sold at an average price of $191.99, for a total transaction of $4,319,775.00. Following the completion of the sale, the insider now owns 118,555 shares of the company’s stock, valued at approximately $22,761,374.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 6.70% of the company’s stock.
General Dynamics (NYSE:GD) last announced its quarterly earnings results on Wednesday, July 25th. The aerospace company reported $2.82 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.49 by $0.33. The business had revenue of $9.19 billion during the quarter, compared to analysts’ expectations of $9.09 billion. General Dynamics had a net margin of 9.16% and a return on equity of 27.06%. The firm’s revenue for the quarter was up 19.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.45 EPS. equities research analysts forecast that General Dynamics Co. will post 11.21 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, November 9th. Shareholders of record on Friday, October 5th will be given a dividend of $0.93 per share. The ex-dividend date of this dividend is Thursday, October 4th. This represents a $3.72 annualized dividend and a yield of 1.94%. General Dynamics’s payout ratio is currently 37.39%.
A number of equities research analysts have recently issued reports on the stock. Barclays reaffirmed an “overweight” rating and issued a $256.00 price objective on shares of General Dynamics in a research note on Thursday, June 14th. Zacks Investment Research cut shares of General Dynamics from a “hold” rating to a “sell” rating in a research note on Tuesday, June 26th. Bank of America set a $275.00 price objective on shares of General Dynamics and gave the company a “buy” rating in a research note on Tuesday, July 31st. Credit Suisse Group upped their price objective on shares of General Dynamics from $224.00 to $229.00 and gave the company an “outperform” rating in a research note on Thursday, July 26th. Finally, Morgan Stanley cut their price objective on shares of General Dynamics from $215.00 to $207.00 and set an “underweight” rating for the company in a research note on Friday, June 22nd. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and nine have issued a buy rating to the company’s stock. General Dynamics has an average rating of “Hold” and a consensus price target of $241.81.
General Dynamics Company Profile
General Dynamics Corporation operates as an aerospace and defense company worldwide. It operates through four business groups: Aerospace; Combat Systems; Information Systems and Technology; and Marine Systems. The Aerospace group designs, develops, manufactures, service and supports business-jet aircraft; and provides aircraft services, such as maintenance, aircraft management, charter, fixed-base operational, and staffing services.
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