Webster Bank N. A. increased its position in shares of General Dynamics Co. (NYSE:GD – Free Report) by 0.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 14,241 shares of the aerospace company’s stock after acquiring an additional 92 shares during the quarter. Webster Bank N. A.’s holdings in General Dynamics were worth $3,064,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in GD. Certified Advisory Corp acquired a new stake in shares of General Dynamics during the first quarter worth about $25,000. Pacifica Partners Inc. lifted its holdings in shares of General Dynamics by 833.3% during the 1st quarter. Pacifica Partners Inc. now owns 112 shares of the aerospace company’s stock valued at $26,000 after purchasing an additional 100 shares in the last quarter. Guardian Wealth Advisors LLC bought a new position in shares of General Dynamics during the 1st quarter valued at about $28,000. Live Oak Investment Partners bought a new position in shares of General Dynamics during the 4th quarter valued at about $30,000. Finally, Princeton Global Asset Management LLC bought a new position in shares of General Dynamics during the 1st quarter valued at about $31,000. Institutional investors and hedge funds own 86.08% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently issued reports on GD shares. Morgan Stanley lifted their target price on General Dynamics from $248.00 to $250.00 in a research report on Thursday, July 27th. StockNews.com started coverage on General Dynamics in a research report on Thursday, August 17th. They issued a “buy” rating on the stock. Wells Fargo & Company lowered their price target on General Dynamics from $258.00 to $243.00 and set an “overweight” rating on the stock in a research report on Monday. Finally, Citigroup reaffirmed a “buy” rating and set a $283.00 price target on shares of General Dynamics in a research report on Tuesday. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, General Dynamics currently has an average rating of “Moderate Buy” and a consensus target price of $261.23.
General Dynamics Price Performance
Shares of General Dynamics stock traded down $1.99 during trading on Tuesday, reaching $222.34. 467,988 shares of the company’s stock were exchanged, compared to its average volume of 1,166,658. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.90 and a current ratio of 1.39. General Dynamics Co. has a 1-year low of $202.35 and a 1-year high of $256.86. The company has a market cap of $60.71 billion, a P/E ratio of 18.43, a PEG ratio of 1.99 and a beta of 0.84. The firm’s 50-day moving average price is $221.77 and its 200 day moving average price is $219.13.
General Dynamics (NYSE:GD – Get Free Report) last issued its earnings results on Wednesday, July 26th. The aerospace company reported $2.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.59 by $0.11. General Dynamics had a return on equity of 18.01% and a net margin of 8.24%. The business had revenue of $10.15 billion during the quarter, compared to analysts’ expectations of $9.45 billion. During the same quarter in the prior year, the firm earned $2.75 EPS. The business’s revenue for the quarter was up 10.5% compared to the same quarter last year. As a group, research analysts anticipate that General Dynamics Co. will post 12.64 earnings per share for the current year.
General Dynamics Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Friday, November 10th. Stockholders of record on Friday, October 6th will be paid a $1.32 dividend. The ex-dividend date is Thursday, October 5th. This represents a $5.28 annualized dividend and a dividend yield of 2.37%. General Dynamics’s payout ratio is 43.35%.
In other news, VP Gregory S. Gallopoulos sold 6,500 shares of the stock in a transaction dated Friday, August 11th. The stock was sold at an average price of $225.83, for a total value of $1,467,895.00. Following the completion of the sale, the vice president now owns 113,319 shares of the company’s stock, valued at $25,590,829.77. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, SVP Marguerite Amy Gilliland sold 13,500 shares of the company’s stock in a transaction dated Thursday, August 3rd. The stock was sold at an average price of $225.46, for a total transaction of $3,043,710.00. Following the sale, the senior vice president now owns 44,157 shares in the company, valued at approximately $9,955,637.22. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Gregory S. Gallopoulos sold 6,500 shares of the company’s stock in a transaction dated Friday, August 11th. The shares were sold at an average price of $225.83, for a total value of $1,467,895.00. Following the sale, the vice president now owns 113,319 shares in the company, valued at approximately $25,590,829.77. The disclosure for this sale can be found here. Over the last quarter, insiders sold 53,230 shares of company stock valued at $12,086,716. Company insiders own 1.50% of the company’s stock.
General Dynamics Profile
General Dynamics Corporation operates as an aerospace and defense company worldwide. It operates through four segments: Aerospace, Marine Systems, Combat Systems, and Technologies. The Aerospace segment produces and sells business jets; and offers aircraft maintenance and repair, management, aircraft-on-ground support and completion, charter, staffing, and fixed-base operator services.
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