Conning Inc. continued to hold its position in General Dynamics Corp. (NYSE:GD) during the second quarter, Holdings Channel reports. The institutional investor owned 10,026 shares of the company’s stock at the end of the second quarter. Conning Inc.’s holdings in General Dynamics Corp. were worth $1,396,000 as of its most recent SEC filing.
A number of other institutional investors also recently added to or reduced their stakes in the company. Carroll Financial Associates Inc. boosted 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 during the period. Holowesko Partners Ltd. acquired a new stake in shares of General Dynamics Corp. during the first quarter worth $223,000. Brookstone Capital Management acquired a new stake in shares of General Dynamics Corp. during the second quarter worth $233,000. Terra Nova Asset Management LLC boosted its stake in shares of General Dynamics Corp. by 9.2% in the second quarter. Terra Nova Asset Management LLC now owns 1,788 shares of the company’s stock worth $249,000 after buying an additional 150 shares during the period. Finally, Cabot Wealth Management Inc. boosted its stake in shares of General Dynamics Corp. by 1.0% in the first quarter. Cabot Wealth Management Inc. now owns 1,927 shares of the company’s stock worth $253,000 after buying an additional 19 shares during the period. 87.68% of the stock is owned by institutional investors.
Shares of General Dynamics Corp. (NYSE:GD) traded up 0.04% during mid-day trading on Monday, hitting $153.87. 1,252,583 shares of the stock traded hands. The stock has a market cap of $46.85 billion, a price-to-earnings ratio of 16.36 and a beta of 0.84. The firm has a 50 day moving average of $152.13 and a 200 day moving average of $142.79. General Dynamics Corp. has a 12 month low of $121.61 and a 12 month high of $154.98.
General Dynamics Corp. (NYSE:GD) last posted its quarterly earnings data on Wednesday, July 27th. The company reported $2.44 EPS for the quarter, topping the consensus estimate of $2.31 by $0.13. The firm earned $7.66 billion during the quarter, compared to analyst estimates of $7.88 billion. General Dynamics Corp. had a net margin of 9.53% and a return on equity of 27.74%. General Dynamics Corp.’s revenue was down 2.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.27 EPS. On average, equities analysts expect that General Dynamics Corp. will post $9.73 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 10th. Investors of record on Friday, October 7th will be paid a dividend of $0.76 per share. The ex-dividend date of this dividend is Wednesday, October 5th. This represents a $3.04 annualized dividend and a dividend yield of 1.98%. General Dynamics Corp.’s dividend payout ratio (DPR) is presently 32.27%.
A number of equities research analysts have weighed in on the stock. Jefferies Group restated a “buy” rating on shares of General Dynamics Corp. in a report on Wednesday, August 3rd. Sanford C. Bernstein upgraded shares of General Dynamics Corp. from a “market perform” rating to an “outperform” rating and set a $180.00 price objective on the stock in a report on Wednesday, August 10th. They noted that the move was a valuation call. Argus increased their price target on shares of General Dynamics Corp. from $160.00 to $165.00 and gave the company a “buy” rating in a report on Tuesday, August 2nd. Deutsche Bank AG reiterated a “hold” rating on shares of General Dynamics Corp. in a report on Friday. Finally, Citigroup Inc. increased their price target on shares of General Dynamics Corp. from $162.00 to $185.00 and gave the company a “buy” rating in a report on Tuesday, September 6th. Two investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $157.99.
In other General Dynamics Corp. news, VP Gregory S. Gallopoulos sold 39,000 shares of the business’s stock in a transaction that occurred on Friday, July 29th. The shares were sold at an average price of $146.58, for a total transaction of $5,716,620.00. Following the sale, the vice president now owns 153,848 shares of the company’s stock, valued at approximately $22,551,039.84. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider John Patrick Casey sold 57,490 shares of the business’s stock in a transaction that occurred on Thursday, August 4th. The stock was sold at an average price of $146.96, for a total transaction of $8,448,730.40. Following the sale, the insider now directly owns 165,118 shares in the company, valued at approximately $24,265,741.28. The disclosure for this sale can be found here. Corporate insiders own 6.80% of the company’s stock.
About General Dynamics Corp.
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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