Prospera Financial Services Inc Increases Position in General Dynamics Corporation (GD)

Prospera Financial Services Inc increased its position in General Dynamics Corporation (NYSE:GD) by 9.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,707 shares of the aerospace company’s stock after buying an additional 392 shares during the period. Prospera Financial Services Inc’s holdings in General Dynamics Corporation were worth $933,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Quadrant Capital Group LLC raised its stake in 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 period. Zions Bancorporation raised its stake in 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 period. Norway Savings Bank raised its position in shares of General Dynamics Corporation by 0.5% in the second quarter. Norway Savings Bank now owns 1,015 shares of the aerospace company’s stock valued at $201,000 after buying an additional 5 shares during the last quarter. Savant Capital LLC raised its position in shares of General Dynamics Corporation by 0.4% in the first quarter. Savant Capital LLC now owns 1,815 shares of the aerospace company’s stock valued at $340,000 after buying an additional 7 shares during the last quarter. Finally, Guardian Life Insurance Co. of America raised its position in shares of General Dynamics Corporation by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 1,104 shares of the aerospace company’s stock valued at $207,000 after buying an additional 8 shares during the last quarter. 87.52% of the stock is owned by institutional investors.

Shares of General Dynamics Corporation (NYSE:GD) traded down 0.20% on Friday, reaching $197.89. The company’s stock had a trading volume of 1,105,954 shares. The stock has a 50-day moving average of $199.82 and a 200 day moving average of $193.74. The stock has a market capitalization of $59.33 billion, a PE ratio of 19.55 and a beta of 0.71. General Dynamics Corporation has a 1-year low of $148.76 and a 1-year high of $205.90.

General Dynamics Corporation (NYSE:GD) last announced its quarterly earnings data on Wednesday, July 26th. The aerospace company reported $2.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.43 by $0.02. The firm had revenue of $7.68 billion for the quarter, compared to the consensus estimate of $7.76 billion. General Dynamics Corporation had a net margin of 9.63% and a return on equity of 28.17%. The business’s revenue for the quarter was down 1.3% on a year-over-year basis. During the same period in the prior year, the company posted $2.30 earnings per share. On average, equities analysts forecast that General Dynamics Corporation will post $9.82 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, November 10th. Stockholders of record on Friday, October 6th will be issued a $0.84 dividend. The ex-dividend date is Thursday, October 5th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 1.70%. General Dynamics Corporation’s dividend payout ratio (DPR) is currently 34.57%.

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Several research analysts have recently commented on the company. Jefferies Group LLC restated a “buy” rating on shares of General Dynamics Corporation in a research report on Friday. ValuEngine upgraded General Dynamics Corporation from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. BidaskClub upgraded General Dynamics Corporation from a “hold” rating to a “buy” rating in a research note on Tuesday. Stifel Nicolaus raised their price target on General Dynamics Corporation from $173.00 to $200.00 and gave the company a “hold” rating in a research note on Thursday, April 27th. Finally, Zacks Investment Research cut General Dynamics Corporation from a “buy” rating to a “hold” rating in a research note on Friday, July 28th. Two research 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’s stock. The company has a consensus rating of “Buy” and an average price target of $206.59.

In related news, VP Christopher Marzilli sold 43,890 shares of the firm’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 value of $8,838,129.30. Following the completion of the transaction, the vice president now owns 107,857 shares in the company, valued at approximately $21,719,164.09. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Lester L. Lyles sold 2,551 shares of the firm’s stock in a transaction that occurred on Friday, May 19th. The stock was sold at an average price of $196.01, for a total transaction of $500,021.51. Following the transaction, the director now owns 7,336 shares of the company’s stock, valued at approximately $1,437,929.36. The disclosure for this sale can be found here. 6.70% of the stock is currently owned by corporate insiders.

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.

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

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