Norway Savings Bank Increases Position in General Dynamics Corporation (NYSE:GD)

Norway Savings Bank increased its stake in General Dynamics Corporation (NYSE:GD) by 0.5% during the second quarter, Holdings Channel reports. The firm owned 1,015 shares of the aerospace company’s stock after buying an additional 5 shares during the period. Norway Savings Bank’s holdings in General Dynamics Corporation were worth $201,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the company. Vanguard Group Inc. raised 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 valued at $3,706,525,000 after buying an additional 894,177 shares during the period. BlackRock Inc. raised 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 valued at $2,903,351,000 after buying an additional 14,944,453 shares during the period. Janus Capital Management LLC raised 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 valued at $776,563,000 after buying an additional 749,793 shares during the period. Geode Capital Management LLC raised its stake in General Dynamics Corporation by 5.1% in the first quarter. Geode Capital Management LLC now owns 2,920,756 shares of the aerospace company’s stock valued at $546,040,000 after buying an additional 141,305 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in General Dynamics Corporation by 8.3% in the first quarter. Bank of New York Mellon Corp now owns 2,801,405 shares of the aerospace company’s stock valued at $524,423,000 after buying an additional 214,825 shares during the period. Hedge funds and other institutional investors own 86.79% of the company’s stock.

General Dynamics Corporation (NYSE GD) traded down 0.49% during mid-day trading on Monday, hitting $200.16. The stock had a trading volume of 951,623 shares. The firm has a market capitalization of $60.40 billion, a price-to-earnings ratio of 20.07 and a beta of 0.72. The stock’s 50 day moving average price is $199.65 and its 200 day moving average price is $188.69. General Dynamics Corporation has a one year low of $140.87 and a one year high of $205.17.

General Dynamics Corporation (NYSE:GD) last released its quarterly earnings results on Wednesday, April 26th. The aerospace company reported $2.48 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.32 by $0.16. The business had revenue of $7.44 billion during the quarter, compared to analysts’ expectations of $7.70 billion. General Dynamics Corporation had a return on equity of 28.22% and a net margin of 9.66%. The firm’s revenue for the quarter was down .5% compared to the same quarter last year. During the same period last year, the firm posted $2.08 EPS. Analysts forecast that General Dynamics Corporation will post $9.81 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, August 11th. Investors of record on Friday, July 7th will be issued a dividend of $0.84 per share. The ex-dividend date of this dividend is Wednesday, July 5th. This represents a $3.36 annualized dividend and a yield of 1.67%. General Dynamics Corporation’s payout ratio is currently 34.60%.

ILLEGAL ACTIVITY WARNING: This story was published by Community Financial News and is the property of of Community Financial News. If you are accessing this story on another site, it was copied illegally and republished in violation of international trademark and copyright law. The original version of this story can be viewed at https://www.com-unik.info/2017/07/17/norway-savings-bank-increases-position-in-general-dynamics-corporation-nysegd.html.

GD has been the subject of several analyst reports. Vetr upgraded General Dynamics Corporation from a “sell” rating to a “hold” rating and set a $183.78 target price for the company in a report on Tuesday, March 21st. ValuEngine upgraded General Dynamics Corporation from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. Stifel Nicolaus upped their price target on General Dynamics Corporation from $173.00 to $200.00 and gave the stock a “hold” rating in a report on Thursday, April 27th. Barclays PLC reiterated an “overweight” rating and set a $210.00 price target (up from $200.00) on shares of General Dynamics Corporation in a report on Monday, May 1st. Finally, Jefferies Group LLC reiterated a “buy” rating and set a $220.00 price target on shares of General Dynamics Corporation in a report on Friday, July 7th. One research analyst has rated the stock with a sell rating, four have given a hold rating and twelve have issued a buy rating to the company’s stock. General Dynamics Corporation presently has a consensus rating of “Buy” and an average target price of $204.72.

In other General Dynamics Corporation news, VP Christopher Marzilli sold 43,890 shares of General Dynamics Corporation stock in a transaction on Tuesday, May 30th. The stock was sold at an average price of $201.37, for a total value of $8,838,129.30. Following the completion of the transaction, the vice president now directly owns 107,857 shares of the company’s stock, valued at approximately $21,719,164.09. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Lester L. Lyles sold 2,551 shares of General Dynamics Corporation stock in a transaction on Friday, May 19th. The shares were sold at an average price of $196.01, for a total value of $500,021.51. Following the completion of the transaction, the director now directly owns 7,336 shares of the company’s stock, valued at $1,437,929.36. The disclosure for this sale can be found here. Company insiders own 6.70% of the company’s stock.

General Dynamics Corporation Company 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.

Want to see what other hedge funds are holding GD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for General Dynamics Corporation (NYSE:GD).

Institutional Ownership by Quarter for General Dynamics Corporation (NYSE:GD)

What are top analysts saying about General Dynamics Corporation? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for General Dynamics Corporation and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit