Oregon Public Employees Retirement Fund raised its stake in General Dynamics Corporation (NYSE:GD) by 103.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 128,305 shares of the aerospace company’s stock after buying an additional 65,200 shares during the period. Oregon Public Employees Retirement Fund’s holdings in General Dynamics Corporation were worth $25,417,000 at the end of the most recent reporting period.
Several other large investors have also made changes to their positions in GD. Quadrant Capital Group LLC increased its stake in shares of General Dynamics Corporation by 0.7% in the first quarter. Quadrant Capital Group LLC now owns 608 shares of the aerospace company’s stock worth $108,000 after buying an additional 4 shares during the last quarter. Ruggie Capital Group purchased a new stake in shares of General Dynamics Corporation during the first quarter worth approximately $119,000. Pinnacle Bank purchased a new stake in shares of General Dynamics Corporation during the first quarter worth approximately $126,000. Zions Bancorporation increased its stake in shares of General Dynamics Corporation by 0.5% in the first quarter. Zions Bancorporation now owns 732 shares of the aerospace company’s stock worth $137,000 after buying an additional 4 shares during the last quarter. Finally, Global X Management Co. LLC increased its stake in shares of General Dynamics Corporation by 59.8% in the first quarter. Global X Management Co. LLC now owns 759 shares of the aerospace company’s stock worth $142,000 after buying an additional 284 shares during the last quarter. Institutional investors and hedge funds own 87.52% of the company’s stock.
Shares of General Dynamics Corporation (GD) traded down 0.20% on Friday, hitting $197.89. 1,105,954 shares of the stock were exchanged. The company has a market cap of $59.33 billion, a P/E ratio of 19.55 and a beta of 0.71. General Dynamics Corporation has a one year low of $148.76 and a one year high of $205.90. The firm’s 50-day moving average is $199.91 and its 200-day moving average is $193.59.
General Dynamics Corporation (NYSE:GD) last released its earnings results on Wednesday, July 26th. The aerospace company reported $2.45 EPS for the quarter, beating the consensus estimate of $2.43 by $0.02. General Dynamics Corporation had a net margin of 9.63% and a return on equity of 28.17%. The business had revenue of $7.68 billion during the quarter, compared to analyst estimates of $7.76 billion. During the same period in the prior year, the business earned $2.30 earnings per share. The business’s quarterly revenue was down 1.3% on a year-over-year basis. On average, equities analysts forecast that General Dynamics Corporation will post $9.82 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, November 10th. Investors of record on Friday, October 6th will be paid a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a yield of 1.70%. The ex-dividend date is Thursday, October 5th. General Dynamics Corporation’s dividend payout ratio is presently 34.57%.
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A number of equities research analysts recently commented on the stock. Citigroup Inc. raised their price objective on shares of General Dynamics Corporation from $207.00 to $210.00 and gave the company a “neutral” rating in a research report on Friday. BidaskClub upgraded shares of General Dynamics Corporation from a “hold” rating to a “buy” rating in a research report on Tuesday. Morgan Stanley started coverage on shares of General Dynamics Corporation in a research report on Tuesday. They issued an “underweight” rating and a $185.00 price objective for the company. Zacks Investment Research cut shares of General Dynamics Corporation from a “buy” rating to a “hold” rating in a report on Friday, July 28th. Finally, Cowen and Company reaffirmed a “buy” rating and issued a $210.00 target price on shares of General Dynamics Corporation in a report on Monday, July 17th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and eleven have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $206.59.
In other news, VP Christopher Marzilli sold 43,890 shares of the business’s stock in a transaction that occurred on Tuesday, May 30th. The shares were sold at an average price of $201.37, for a total transaction of $8,838,129.30. Following the sale, the vice president now owns 107,857 shares in the company, valued at $21,719,164.09. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Lester L. Lyles sold 2,551 shares of the business’s stock in a transaction that occurred on Friday, May 19th. The shares were sold at an average price of $196.01, for a total transaction of $500,021.51. Following the sale, the director now owns 7,336 shares in the company, valued at approximately $1,437,929.36. The disclosure for this sale can be found here. 6.70% of the stock is owned by corporate insiders.
About General Dynamics Corporation
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.
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