ProVise Management Group LLC grew its holdings in shares of General Dynamics Corporation (NYSE:GD) by 2.9% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 13,064 shares of the aerospace company’s stock after buying an additional 365 shares during the quarter. ProVise Management Group LLC’s holdings in General Dynamics Corporation were worth $2,686,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. BlackRock Inc. grew 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 purchasing an additional 14,944,453 shares in the last quarter. Janus Henderson Group PLC grew its stake in General Dynamics Corporation by 44,941.4% in the second quarter. Janus Henderson Group PLC now owns 4,998,693 shares of the aerospace company’s stock worth $990,241,000 after purchasing an additional 4,987,595 shares in the last quarter. Vanguard Group Inc. grew 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 purchasing an additional 894,177 shares in the last quarter. Janus Capital Management LLC grew 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 purchasing an additional 749,793 shares in the last quarter. Finally, Capital Research Global Investors grew its stake in General Dynamics Corporation by 4.5% in the second quarter. Capital Research Global Investors now owns 16,792,408 shares of the aerospace company’s stock worth $3,326,576,000 after purchasing an additional 725,896 shares in the last quarter. 85.22% of the stock is currently owned by hedge funds and other institutional investors.
Several brokerages have issued reports on GD. BidaskClub raised General Dynamics Corporation from a “hold” rating to a “buy” rating in a research report on Tuesday, August 8th. Jefferies Group LLC reaffirmed a “buy” rating on shares of General Dynamics Corporation in a research report on Friday, August 11th. ValuEngine cut General Dynamics Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, October 3rd. Morgan Stanley began coverage on General Dynamics Corporation in a research report on Tuesday, August 8th. They set an “underweight” rating and a $185.00 target price on the stock. Finally, Deutsche Bank AG reaffirmed a “hold” rating and set a $210.00 target price (up previously from $200.00) on shares of General Dynamics Corporation in a research report on Monday, October 2nd. Two analysts have rated the stock with a sell rating, five have issued a hold rating and ten have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $218.45.
In other General Dynamics Corporation news, insider John Patrick Casey sold 34,945 shares of the stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $201.38, for a total transaction of $7,037,224.10. Following the sale, the insider now directly owns 144,378 shares of the company’s stock, valued at approximately $29,074,841.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Gregory S. Gallopoulos sold 78,370 shares of the stock in a transaction dated Monday, November 6th. The stock was sold at an average price of $202.93, for a total value of $15,903,624.10. The disclosure for this sale can be found here. 6.70% of the stock is currently owned by company insiders.
Shares of General Dynamics Corporation (GD) traded up $0.97 during mid-day trading on Tuesday, reaching $198.74. The company had a trading volume of 1,284,100 shares, compared to its average volume of 1,149,951. The stock has a market cap of $59,050.00, a price-to-earnings ratio of 19.64, a price-to-earnings-growth ratio of 2.37 and a beta of 0.73. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.37 and a quick ratio of 0.93. General Dynamics Corporation has a one year low of $166.81 and a one year high of $214.81.
General Dynamics Corporation (NYSE:GD) last announced its quarterly earnings results on Wednesday, October 25th. The aerospace company reported $2.52 earnings per share for the quarter, topping the consensus estimate of $2.43 by $0.09. The company had revenue of $7.58 billion for the quarter, compared to the consensus estimate of $7.94 billion. General Dynamics Corporation had a return on equity of 27.98% and a net margin of 9.94%. The firm’s revenue for the quarter was down 1.0% compared to the same quarter last year. During the same period last year, the firm earned $2.36 EPS. equities analysts predict that General Dynamics Corporation will post 9.81 earnings per share for the current year.
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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