Prospera Financial Services Inc decreased its stake in General Dynamics Corp. (NYSE:GD) by 10.4% during the second quarter, Holdings Channel reports. The institutional investor owned 2,960 shares of the company’s stock after selling 343 shares during the period. Prospera Financial Services Inc’s holdings in General Dynamics Corp. were worth $412,000 as of its most recent filing with the SEC.
Several other large investors also recently bought and sold shares of GD. Carroll Financial Associates Inc. boosted its stake in 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 about $223,000. Brookstone Capital Management acquired a new stake in shares of General Dynamics Corp. during the second quarter worth about $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 last quarter. 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 last quarter. 87.68% of the stock is currently owned by institutional investors.
General Dynamics Corp. (NYSE:GD) traded down 0.68% during mid-day trading on Friday, reaching $153.81. 876,828 shares of the company’s stock traded hands. The firm has a market cap of $46.83 billion, a price-to-earnings ratio of 16.36 and a beta of 0.84. General Dynamics Corp. has a one year low of $121.61 and a one year high of $154.98. The firm’s 50-day moving average price is $151.99 and its 200 day moving average price is $142.49.
General Dynamics Corp. (NYSE:GD) last announced its quarterly earnings data on Wednesday, July 27th. The company reported $2.44 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.31 by $0.13. The firm had revenue of $7.66 billion for the quarter, compared to the consensus estimate of $7.88 billion. General Dynamics Corp. had a net margin of 9.53% and a return on equity of 27.74%. The company’s revenue was down 2.8% on a year-over-year basis. During the same period last year, the firm earned $2.27 EPS. On average, equities analysts forecast that General Dynamics Corp. will post $9.73 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 10th. Stockholders of record on Friday, October 7th will be given 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 payout ratio is 32.27%.
GD has been the topic of a number of analyst reports. Jefferies Group reissued a “buy” rating on shares of General Dynamics Corp. in a report on Wednesday, August 3rd. Argus boosted their target price 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. Zacks Investment Research raised shares of General Dynamics Corp. from a “hold” rating to a “buy” rating and set a $159.00 target price on the stock in a report on Monday, July 18th. Citigroup Inc. boosted their target price 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. Finally, Deutsche Bank AG reissued a “hold” rating on shares of General Dynamics Corp. in a report on Friday. Two investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $157.99.
In other news, VP Gregory S. Gallopoulos sold 39,000 shares of the firm’s stock in a transaction 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 directly owns 153,848 shares in the company, valued at approximately $22,551,039.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Kimberly A. Kuryea sold 4,117 shares of the firm’s stock in a transaction on Tuesday, September 6th. The shares were sold at an average price of $154.56, for a total transaction of $636,323.52. Following the sale, the vice president now owns 36,412 shares in the company, valued at $5,627,838.72. 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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