Bp Plc cut its stake in shares of General Dynamics Corp. (NYSE:GD) by 55.0% during the second quarter, Holdings Channel reports. The fund owned 9,000 shares of the company’s stock after selling 11,000 shares during the period. Bp Plc’s holdings in General Dynamics Corp. were worth $1,253,000 as of its most recent filing with the SEC.
Several other institutional investors have also modified their holdings of GD. Savant Capital LLC raised its stake in shares of General Dynamics Corp. by 1.8% in the second quarter. Savant Capital LLC now owns 1,720 shares of the company’s stock worth $239,000 after buying an additional 30 shares in the last quarter. RKL Wealth Management LLC raised its stake in shares of General Dynamics Corp. by 1.7% in the second quarter. RKL Wealth Management LLC now owns 1,871 shares of the company’s stock worth $262,000 after buying an additional 31 shares in the last quarter. Advisory Services Network LLC raised its stake in shares of General Dynamics Corp. by 1.0% in the second quarter. Advisory Services Network LLC now owns 3,551 shares of the company’s stock worth $494,000 after buying an additional 34 shares in the last quarter. Charter Trust Co. raised its stake in shares of General Dynamics Corp. by 0.4% in the second quarter. Charter Trust Co. now owns 8,953 shares of the company’s stock worth $1,247,000 after buying an additional 35 shares in the last quarter. Finally, Carroll Financial Associates Inc. raised its stake in shares of General Dynamics Corp. by 3.2% in the second quarter. Carroll Financial Associates Inc. now owns 1,283 shares of the company’s stock worth $178,000 after buying an additional 40 shares in the last quarter. Institutional investors own 87.68% of the company’s stock.
Shares of General Dynamics Corp. (NYSE:GD) traded down 0.30% during mid-day trading on Wednesday, reaching $151.42. The company’s stock had a trading volume of 706,846 shares. The company has a 50-day moving average of $152.67 and a 200-day moving average of $145.05. General Dynamics Corp. has a 12 month low of $121.61 and a 12 month high of $156.97. The company has a market cap of $46.10 billion, a P/E ratio of 16.10 and a beta of 0.76.
General Dynamics Corp. (NYSE:GD) last announced its quarterly earnings data on Wednesday, July 27th. The company reported $2.44 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.31 by $0.13. General Dynamics Corp. had a return on equity of 27.74% and a net margin of 9.53%. The firm had revenue of $7.66 billion for the quarter, compared to analysts’ expectations of $7.88 billion. During the same period last year, the firm earned $2.27 earnings per share. The company’s revenue for the quarter was down 2.8% compared to the same quarter last year. Equities research analysts forecast that General Dynamics Corp. will post $9.73 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 10th. Stockholders of record on Friday, October 7th will be paid a dividend of $0.76 per share. The ex-dividend date is Wednesday, October 5th. This represents a $3.04 dividend on an annualized basis and a dividend yield of 2.01%. General Dynamics Corp.’s dividend payout ratio (DPR) is currently 32.27%.
A number of brokerages recently weighed in on GD. Deutsche Bank AG restated a “hold” rating on shares of General Dynamics Corp. in a research report on Tuesday. Vetr raised General Dynamics Corp. from a “hold” rating to a “strong-buy” rating and set a $169.96 target price on the stock in a report on Monday. Zacks Investment Research downgraded General Dynamics Corp. from a “buy” rating to a “hold” rating in a report on Monday. Robert W. Baird assumed coverage on General Dynamics Corp. in a report on Thursday, October 6th. They set an “outperform” rating and a $181.00 target price on the stock. Finally, Citigroup Inc. lifted their target price on General Dynamics Corp. from $162.00 to $185.00 and gave the stock a “buy” rating in a report on Tuesday, September 6th. Three analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $159.66.
In related news, insider S. Daniel Johnson sold 33,650 shares of the firm’s stock in a transaction dated Wednesday, August 3rd. The stock was sold at an average price of $147.91, for a total value of $4,977,171.50. Following the sale, the insider now directly owns 107,922 shares of the company’s stock, valued at $15,962,743.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John Patrick Casey sold 57,490 shares of the firm’s stock in a transaction dated Thursday, August 4th. The stock was sold at an average price of $146.96, for a total value of $8,448,730.40. Following the completion of the sale, the insider now directly owns 165,118 shares in the company, valued at $24,265,741.28. The disclosure for this sale can be found here. Insiders own 6.80% of the company’s stock.
General Dynamics Corp. Company Profile
General Dynamics Corporation is an aerospace and defense company that offers a portfolio of products and services in business aviation; combat vehicles, weapons systems and munitions; command, control, communications, computers, intelligence, surveillance and reconnaissance (C4ISR) solutions and information technology (IT) services, and shipbuilding.
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