Skylands Capital LLC held its position in General Dynamics Corporation (NYSE:GD) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,550 shares of the aerospace company’s stock at the end of the second quarter. Skylands Capital LLC’s holdings in General Dynamics Corporation were worth $2,684,000 at the end of the most recent quarter.
Other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. increased its stake in General Dynamics Corporation by 4.7% in the first quarter. Vanguard Group Inc. now owns 19,799,817 shares of the aerospace company’s stock worth $3,706,525,000 after buying an additional 894,177 shares during the period. BlackRock Inc. increased its stake in General Dynamics Corporation by 2,645.5% in the first quarter. BlackRock Inc. now owns 15,509,344 shares of the aerospace company’s stock worth $2,903,351,000 after buying an additional 14,944,453 shares during the period. Janus Capital Management LLC increased its stake in General Dynamics Corporation by 22.1% in the first quarter. Janus Capital Management LLC now owns 4,148,390 shares of the aerospace company’s stock worth $776,563,000 after buying an additional 749,793 shares during the period. Geode Capital Management LLC increased its stake in General Dynamics Corporation by 5.1% in the first quarter. Geode Capital Management LLC now owns 2,920,756 shares of the aerospace company’s stock worth $546,040,000 after buying an additional 141,305 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake in General Dynamics Corporation by 8.3% in the first quarter. Bank of New York Mellon Corp now owns 2,801,405 shares of the aerospace company’s stock worth $524,423,000 after buying an additional 214,825 shares during the last quarter. Institutional investors and hedge funds own 87.52% of the company’s stock.
General Dynamics Corporation (NYSE:GD) traded up 1.11% on Wednesday, reaching $201.00. 1,353,947 shares of the company’s stock traded hands. General Dynamics Corporation has a 52-week low of $147.80 and a 52-week high of $205.90. The company’s 50 day moving average is $200.36 and its 200-day moving average is $192.94. The stock has a market cap of $60.26 billion, a price-to-earnings ratio of 19.86 and a beta of 0.71.
General Dynamics Corporation (NYSE:GD) last announced its quarterly earnings results on Wednesday, July 26th. The aerospace company reported $2.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.43 by $0.02. The firm had revenue of $7.68 billion for the quarter, compared to the consensus estimate of $7.76 billion. General Dynamics Corporation had a net margin of 9.63% and a return on equity of 28.17%. The business’s quarterly revenue was down 1.3% compared to the same quarter last year. During the same quarter last year, the firm posted $2.30 EPS. Equities analysts expect that General Dynamics Corporation will post $9.82 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, November 10th. Stockholders of record on Friday, October 6th will be issued a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a dividend yield of 1.67%. The ex-dividend date is Thursday, October 5th. General Dynamics Corporation’s payout ratio is presently 34.57%.
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GD has been the topic of a number of recent research reports. Zacks Investment Research raised General Dynamics Corporation from a “sell” rating to a “hold” rating in a report on Thursday, April 13th. Cowen and Company restated an “outperform” rating and issued a $207.00 price objective on shares of General Dynamics Corporation in a research report on Monday, April 17th. Jefferies Group LLC restated a “buy” rating and issued a $200.00 price objective on shares of General Dynamics Corporation in a research report on Tuesday, April 18th. Vetr cut shares of General Dynamics Corporation from a “hold” rating to a “sell” rating and set a $183.78 price objective for the company. in a research report on Monday, April 24th. Finally, Royal Bank Of Canada boosted their price objective on shares of General Dynamics Corporation from $211.00 to $220.00 and gave the stock an “outperform” rating in a research report on Thursday, April 27th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and eleven have given a buy rating to the stock. General Dynamics Corporation presently has a consensus rating of “Buy” and a consensus price target of $206.05.
In related news, Director Lester L. Lyles sold 2,551 shares of the firm’s stock in a transaction that occurred on Friday, May 19th. The shares were sold at an average price of $196.01, for a total value of $500,021.51. Following the transaction, the director now owns 7,336 shares of the company’s stock, valued at $1,437,929.36. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Christopher Marzilli sold 43,890 shares of the firm’s stock in a transaction that occurred on Tuesday, May 30th. The stock was sold at an average price of $201.37, for a total transaction of $8,838,129.30. Following the completion of the transaction, the vice president now directly owns 107,857 shares in the company, valued at approximately $21,719,164.09. The disclosure for this sale can be found here. Company insiders own 6.70% of the company’s stock.
General Dynamics Corporation Company 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.
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