Raleigh Capital Management Inc. lowered its stake in General Dynamics Corporation (NYSE:GD – Free Report) by 5.2% in the 2nd quarter, Holdings Channel.com reports. The firm owned 1,584 shares of the aerospace company’s stock after selling 87 shares during the period. Raleigh Capital Management Inc.’s holdings in General Dynamics were worth $462,000 as of its most recent SEC filing.
Several other large investors have also modified their holdings of the stock. LexAurum Advisors LLC acquired a new position in General Dynamics in the second quarter worth about $209,000. HB Wealth Management LLC lifted its holdings in General Dynamics by 1.8% during the 2nd quarter. HB Wealth Management LLC now owns 39,670 shares of the aerospace company’s stock worth $11,570,000 after buying an additional 691 shares during the last quarter. Claris Advisors LLC MO acquired a new position in shares of General Dynamics in the 2nd quarter worth approximately $211,000. Smith Chas P & Associates PA Cpas increased its holdings in shares of General Dynamics by 2.6% in the 2nd quarter. Smith Chas P & Associates PA Cpas now owns 127,983 shares of the aerospace company’s stock valued at $37,327,000 after acquiring an additional 3,226 shares during the last quarter. Finally, Oakworth Capital Inc. lifted its stake in General Dynamics by 1.0% during the second quarter. Oakworth Capital Inc. now owns 58,935 shares of the aerospace company’s stock worth $17,189,000 after purchasing an additional 579 shares during the last quarter. Institutional investors own 86.14% of the company’s stock.
General Dynamics Stock Performance
Shares of NYSE GD opened at $340.73 on Wednesday. General Dynamics Corporation has a 12-month low of $239.20 and a 12-month high of $341.02. The company has a current ratio of 1.36, a quick ratio of 0.83 and a debt-to-equity ratio of 0.32. The company has a market cap of $91.65 billion, a PE ratio of 22.87, a P/E/G ratio of 2.04 and a beta of 0.50. The stock has a 50 day simple moving average of $320.30 and a 200-day simple moving average of $292.74.
General Dynamics Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, October 10th will be given a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date is Friday, October 10th. General Dynamics’s dividend payout ratio is currently 40.27%.
Analyst Ratings Changes
Several analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft upgraded shares of General Dynamics from a “hold” rating to a “buy” rating and boosted their target price for the company from $298.00 to $342.00 in a research note on Tuesday, July 8th. UBS Group increased their price objective on shares of General Dynamics from $309.00 to $333.00 and gave the stock a “neutral” rating in a research note on Thursday, July 24th. Susquehanna lifted their target price on General Dynamics from $315.00 to $365.00 and gave the company a “positive” rating in a research note on Thursday, July 24th. TD Cowen increased their price target on General Dynamics from $290.00 to $300.00 and gave the stock a “buy” rating in a research report on Wednesday, June 25th. Finally, Barclays boosted their price objective on General Dynamics from $285.00 to $350.00 and gave the company an “overweight” rating in a research report on Tuesday, July 29th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $315.78.
Check Out Our Latest Research Report on GD
Insider Activity
In other General Dynamics news, EVP Mark Lagrand Burns sold 43,860 shares of the business’s stock in a transaction dated Monday, July 28th. The shares were sold at an average price of $312.28, for a total transaction of $13,696,600.80. Following the sale, the executive vice president directly owned 39,875 shares in the company, valued at approximately $12,452,165. The trade was a 52.38% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP William A. Moss sold 17,700 shares of the stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $316.40, for a total transaction of $5,600,280.00. Following the completion of the transaction, the vice president owned 16,627 shares of the company’s stock, valued at $5,260,782.80. This trade represents a 51.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 275,020 shares of company stock worth $86,414,503 in the last 90 days. 1.50% of the stock is currently owned by corporate insiders.
About General Dynamics
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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