Federated Investors Inc. PA decreased its holdings in shares of General Dynamics Corporation (NYSE:GD) by 35.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,352 shares of the aerospace company’s stock after selling 4,544 shares during the quarter. Federated Investors Inc. PA’s holdings in General Dynamics Corporation were worth $1,655,000 at the end of the most recent quarter.
Other hedge funds have also bought and sold shares of the company. Ruggie Capital Group acquired a new position in General Dynamics Corporation during the first quarter worth approximately $119,000. Zions Bancorporation increased its position in General Dynamics Corporation by 0.5% during the first quarter. Zions Bancorporation now owns 732 shares of the aerospace company’s stock worth $137,000 after buying an additional 4 shares during the period. Global X Management Co. LLC increased its position in General Dynamics Corporation by 59.8% during the first quarter. Global X Management Co. LLC now owns 759 shares of the aerospace company’s stock worth $142,000 after buying an additional 284 shares during the period. Central Bank & Trust Co. increased its position in General Dynamics Corporation by 5.7% during the second quarter. Central Bank & Trust Co. now owns 922 shares of the aerospace company’s stock worth $183,000 after buying an additional 50 shares during the period. Finally, First Command Bank increased its position in General Dynamics Corporation by 31.3% during the second quarter. First Command Bank now owns 952 shares of the aerospace company’s stock worth $189,000 after buying an additional 227 shares during the period. Hedge funds and other institutional investors own 86.19% of the company’s stock.
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Shares of General Dynamics Corporation (NYSE:GD) opened at 200.33 on Tuesday. The firm’s 50-day moving average price is $199.10 and its 200-day moving average price is $196.09. The stock has a market capitalization of $60.06 billion, a P/E ratio of 19.79 and a beta of 0.71. General Dynamics Corporation has a 52-week low of $148.76 and a 52-week high of $205.90.
General Dynamics Corporation (NYSE:GD) last issued its quarterly earnings results on Wednesday, July 26th. The aerospace company reported $2.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.43 by $0.02. General Dynamics Corporation had a return on equity of 28.17% and a net margin of 9.63%. The company had revenue of $7.68 billion for the quarter, compared to analysts’ expectations of $7.76 billion. During the same period last year, the firm earned $2.30 EPS. The firm’s revenue for the quarter was down 1.3% on a year-over-year basis. Equities analysts forecast that General Dynamics Corporation will post $9.81 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, November 10th. Stockholders of record on Friday, October 6th will be given a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a dividend yield of 1.68%. The ex-dividend date of this dividend is Thursday, October 5th. General Dynamics Corporation’s dividend payout ratio (DPR) is presently 34.57%.
Several research analysts have commented on GD shares. Zacks Investment Research lowered General Dynamics Corporation from a “buy” rating to a “hold” rating in a research report on Friday, July 28th. ValuEngine raised General Dynamics Corporation from a “hold” rating to a “buy” rating in a report on Friday, September 1st. BidaskClub lowered General Dynamics Corporation from a “strong-buy” rating to a “buy” rating in a report on Tuesday, June 27th. Berenberg Bank initiated coverage on General Dynamics Corporation in a report on Wednesday, July 12th. They issued a “buy” rating and a $230.00 target price on the stock. Finally, Jefferies Group LLC reissued a “buy” rating and issued a $220.00 target price on shares of General Dynamics Corporation in a report on Friday, July 7th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and eleven have assigned a buy rating to the company. General Dynamics Corporation presently has a consensus rating of “Buy” and a consensus price target of $206.59.
General Dynamics Corporation 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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