Huntington National Bank cut its stake in shares of General Dynamics Co. (NYSE:GD) by 4.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,045 shares of the aerospace company’s stock after selling 563 shares during the quarter. Huntington National Bank’s holdings in General Dynamics were worth $1,800,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Security National Trust Co. boosted its stake in General Dynamics by 123.0% in the 1st quarter. Security National Trust Co. now owns 223 shares of the aerospace company’s stock worth $30,000 after purchasing an additional 123 shares during the period. Larson Financial Group LLC bought a new position in General Dynamics in the 2nd quarter valued at about $30,000. Key Financial Inc bought a new position in shares of General Dynamics during the first quarter worth approximately $31,000. FinTrust Capital Advisors LLC increased its holdings in shares of General Dynamics by 95.3% during the first quarter. FinTrust Capital Advisors LLC now owns 289 shares of the aerospace company’s stock worth $38,000 after purchasing an additional 141 shares during the period. Finally, BDO Wealth Advisors LLC increased its holdings in shares of General Dynamics by 91.4% during the first quarter. BDO Wealth Advisors LLC now owns 291 shares of the aerospace company’s stock worth $38,000 after purchasing an additional 139 shares during the period. 85.57% of the stock is owned by institutional investors and hedge funds.
NYSE:GD traded down $2.12 on Friday, reaching $146.74. 1,659,624 shares of the stock traded hands, compared to its average volume of 1,125,946. The company has a market capitalization of $42.09 billion, a price-to-earnings ratio of 13.03, a PEG ratio of 2.46 and a beta of 1.05. The company has a current ratio of 1.27, a quick ratio of 0.97 and a debt-to-equity ratio of 0.75. General Dynamics Co. has a 12 month low of $100.55 and a 12 month high of $193.76. The company’s fifty day simple moving average is $148.68 and its 200 day simple moving average is $151.85.
General Dynamics (NYSE:GD) last released its quarterly earnings data on Wednesday, July 29th. The aerospace company reported $2.18 earnings per share for the quarter, beating analysts’ consensus estimates of $2.15 by $0.03. The business had revenue of $9.26 billion during the quarter, compared to analyst estimates of $9.03 billion. General Dynamics had a net margin of 8.47% and a return on equity of 24.10%. General Dynamics’s revenue was down 3.0% compared to the same quarter last year. During the same period last year, the business earned $2.77 EPS. Equities analysts anticipate that General Dynamics Co. will post 11.12 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, August 7th. Stockholders of record on Friday, July 3rd will be issued a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a dividend yield of 3.00%. The ex-dividend date of this dividend is Wednesday, July 1st. General Dynamics’s payout ratio is presently 36.73%.
A number of brokerages have weighed in on GD. Susquehanna Bancshares raised their target price on shares of General Dynamics from $167.00 to $184.00 and gave the company a “positive” rating in a research report on Thursday, June 4th. TheStreet cut shares of General Dynamics from a “b-” rating to a “c+” rating in a research note on Thursday, July 9th. Stifel Nicolaus cut their price target on shares of General Dynamics from $180.00 to $160.00 and set a “hold” rating for the company in a research note on Thursday. Credit Suisse Group cut their price objective on shares of General Dynamics from $191.00 to $153.00 and set a “neutral” rating for the company in a research note on Thursday, April 30th. Finally, UBS Group dropped their price target on shares of General Dynamics from $190.00 to $171.00 and set a “neutral” rating for the company in a research report on Thursday, June 11th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $183.57.
General Dynamics Profile
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.
Further Reading: Cost of Equity For A Business, Investors
Receive News & Ratings for General Dynamics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for General Dynamics and related companies with MarketBeat.com's FREE daily email newsletter.