Cambria Investment Management L.P. lifted its position in shares of General Dynamics Corporation (NYSE:GD) by 160.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,843 shares of the aerospace company’s stock after acquiring an additional 9,150 shares during the quarter. Cambria Investment Management L.P.’s holdings in General Dynamics Corporation were worth $2,940,000 as of its most recent SEC filing.
Several other hedge funds have also recently bought and sold shares of GD. Pathstone Family Office LLC lifted its stake in General Dynamics Corporation by 100.0% in the 2nd quarter. Pathstone Family Office LLC now owns 24 shares of the aerospace company’s stock valued at $4,754,000 after buying an additional 12 shares in the last quarter. Vantage Investment Advisors LLC lifted its stake in General Dynamics Corporation by 9.3% in the 2nd quarter. Vantage Investment Advisors LLC now owns 585 shares of the aerospace company’s stock valued at $116,000 after buying an additional 50 shares in the last quarter. Ruggie Capital Group purchased a new position in General Dynamics Corporation in the 1st quarter valued at about $119,000. Captrust Financial Advisors purchased a new position in General Dynamics Corporation in the 2nd quarter valued at about $129,000. Finally, Zions Bancorporation lifted its stake in General Dynamics Corporation by 0.5% in the 1st quarter. Zions Bancorporation now owns 732 shares of the aerospace company’s stock valued at $137,000 after buying an additional 4 shares in the last quarter. 86.17% of the stock is currently owned by institutional investors and hedge funds.
A number of research analysts recently weighed in on GD shares. Zacks Investment Research lowered shares of General Dynamics Corporation from a “buy” rating to a “hold” rating in a research note on Friday, July 28th. Deutsche Bank AG reiterated a “hold” rating and issued a $210.00 price objective (up previously from $200.00) on shares of General Dynamics Corporation in a report on Monday, October 2nd. ValuEngine upgraded shares of General Dynamics Corporation from a “hold” rating to a “buy” rating in a report on Friday, September 1st. BidaskClub upgraded shares of General Dynamics Corporation from a “hold” rating to a “buy” rating in a report on Tuesday, August 8th. Finally, Berenberg Bank initiated coverage on shares of General Dynamics Corporation in a report on Wednesday, July 12th. They issued a “buy” rating and a $230.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and eleven have assigned a buy rating to the company’s stock. General Dynamics Corporation currently has an average rating of “Buy” and a consensus price target of $209.45.
General Dynamics Corporation (NYSE:GD) last issued its quarterly earnings results on Wednesday, July 26th. The aerospace company reported $2.45 EPS for the quarter, topping the consensus estimate of $2.43 by $0.02. General Dynamics Corporation had a net margin of 9.63% and a return on equity of 28.17%. The firm had revenue of $7.68 billion during the quarter, compared to analyst estimates of $7.76 billion. During the same quarter in the prior year, the business posted $2.30 earnings per share. General Dynamics Corporation’s revenue for the quarter was down 1.3% compared to the same quarter last year.
The business also recently declared a quarterly dividend, which will be paid on Friday, November 10th. Investors 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 yield of 1.57%. The ex-dividend date of this dividend is Thursday, October 5th. General Dynamics Corporation’s dividend payout ratio (DPR) is 34.57%.
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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