United Capital Management of KS Inc. raised its position in General Dynamics Co. (NYSE:GD) by 6.8% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,713 shares of the aerospace company’s stock after purchasing an additional 238 shares during the period. United Capital Management of KS Inc.’s holdings in General Dynamics were worth $656,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also recently made changes to their positions in the company. Prestige Wealth Management Group LLC purchased a new position in shares of General Dynamics in the 2nd quarter valued at $29,000. Kings Point Capital Management purchased a new position in General Dynamics during the 2nd quarter worth $36,000. Princeton Global Asset Management LLC purchased a new position in General Dynamics during the 1st quarter worth $42,000. Stonebridge Capital Advisors LLC purchased a new position in General Dynamics during the 2nd quarter worth $46,000. Finally, Meridian Wealth Management LLC purchased a new position in General Dynamics during the 1st quarter worth $48,000. 86.26% of the stock is currently owned by institutional investors.
Shares of NYSE GD traded down $0.62 during midday trading on Tuesday, hitting $178.50. The company had a trading volume of 35,155 shares, compared to its average volume of 1,553,596. The company has a quick ratio of 0.73, a current ratio of 1.09 and a debt-to-equity ratio of 0.70. General Dynamics Co. has a twelve month low of $143.87 and a twelve month high of $196.04. The business has a 50-day simple moving average of $185.14 and a two-hundred day simple moving average of $178.65. The firm has a market capitalization of $51.89 billion, a price-to-earnings ratio of 15.63, a price-to-earnings-growth ratio of 1.73 and a beta of 1.20.
General Dynamics (NYSE:GD) last announced its quarterly earnings data on Wednesday, July 24th. The aerospace company reported $2.77 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.68 by $0.09. General Dynamics had a net margin of 8.65% and a return on equity of 26.81%. The firm had revenue of $9.56 billion during the quarter, compared to analysts’ expectations of $9.36 billion. During the same quarter last year, the business earned $2.82 earnings per share. The business’s revenue for the quarter was up 4.0% compared to the same quarter last year. On average, equities analysts forecast that General Dynamics Co. will post 11.88 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, October 11th will be paid a $1.02 dividend. This represents a $4.08 annualized dividend and a dividend yield of 2.29%. The ex-dividend date of this dividend is Thursday, October 10th. General Dynamics’s dividend payout ratio (DPR) is 35.73%.
In related news, VP Mark Lagrand Burns acquired 159 shares of General Dynamics stock in a transaction that occurred on Friday, August 9th. The stock was purchased at an average price of $179.56 per share, for a total transaction of $28,550.04. Following the completion of the purchase, the vice president now directly owns 39,643 shares of the company’s stock, valued at $7,118,297.08. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Gary L. Whited sold 14,029 shares of the firm’s stock in a transaction dated Tuesday, July 30th. The shares were sold at an average price of $188.38, for a total transaction of $2,642,783.02. Following the completion of the sale, the vice president now owns 37,542 shares of the company’s stock, valued at approximately $7,072,161.96. The disclosure for this sale can be found here. Insiders sold 48,459 shares of company stock valued at $9,079,802 in the last quarter. Company insiders own 7.10% of the company’s stock.
Several brokerages have issued reports on GD. Zacks Investment Research raised shares of General Dynamics from a “hold” rating to a “buy” rating and set a $203.00 price objective on the stock in a research report on Monday, September 2nd. Cowen set a $202.00 target price on shares of General Dynamics and gave the stock a “buy” rating in a research note on Friday, August 30th. Barclays set a $215.00 target price on shares of General Dynamics and gave the stock a “buy” rating in a research note on Tuesday, October 8th. Robert W. Baird raised their target price on shares of General Dynamics from $188.00 to $218.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 10th. Finally, Morgan Stanley reduced their target price on shares of General Dynamics from $173.00 to $172.00 and set an “underweight” rating for the company in a research note on Thursday, October 10th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and seven have given a buy rating to the company. General Dynamics currently has an average rating of “Hold” and a consensus price target of $193.58.
About General Dynamics
General Dynamics Corporation operates as an aerospace and defense company worldwide. It operates in five segments: Aerospace, Combat Systems, Information Technology, Mission Systems, and Marine Systems. The Aerospace segment designs, manufactures, and supports business-jet aircraft; and offers business-aviation services, including maintenance, fixed-base operation, government fleet, aircraft management, charter, and staffing services, as well as integrated aviation solutions.
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