Norway Savings Bank Buys 5 Shares of General Dynamics Corporation (NYSE:GD)

Norway Savings Bank raised its stake in General Dynamics Corporation (NYSE:GD) by 0.5% during the second quarter, according to its most recent disclosure with the SEC. 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 hedge funds have also modified their holdings of the company. Quadrant Capital Group LLC raised 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 valued at $108,000 after buying an additional 4 shares during the period. Ruggie Capital Group bought a new stake in shares of General Dynamics Corporation during the first quarter valued at about $119,000. Pinnacle Bank bought a new stake in shares of General Dynamics Corporation during the first quarter valued at about $126,000. Zions Bancorporation raised 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 valued at $137,000 after buying an additional 4 shares during the period. Finally, Global X Management Co. LLC raised 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 valued at $142,000 after buying an additional 284 shares during the period. Institutional investors and hedge funds own 87.52% of the company’s stock.

General Dynamics Corporation (NYSE:GD) opened at 197.89 on Friday. General Dynamics Corporation has a 12-month low of $148.76 and a 12-month high of $205.90. The firm’s 50-day moving average is $199.82 and its 200 day moving average is $193.74. The firm has a market cap of $59.33 billion, a P/E ratio of 19.55 and a beta of 0.71.

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

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

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GD has been the topic of several research reports. Zacks Investment Research raised shares of General Dynamics Corporation from a “hold” rating to a “buy” rating and set a $224.00 price target on the stock in a report on Tuesday, June 27th. UBS AG reissued a “buy” rating and set a $225.00 target price (up from $215.00) on shares of General Dynamics Corporation in a report on Monday, June 12th. Royal Bank Of Canada reissued a “buy” rating and set a $220.00 target price on shares of General Dynamics Corporation in a report on Friday, June 2nd. ValuEngine raised shares of General Dynamics Corporation from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. Finally, Jefferies Group LLC reiterated a “buy” rating and set a $200.00 target price on shares of General Dynamics Corporation in a research report on Tuesday, April 18th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and eleven have assigned a buy rating to the company. General Dynamics Corporation presently has an average rating of “Buy” and an average target price of $206.59.

In other General Dynamics Corporation news, VP Christopher Marzilli sold 43,890 shares of the business’s stock in a transaction dated 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 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 SEC, which is available through this link. Also, Director Lester L. Lyles sold 2,551 shares of the business’s stock in a transaction dated Friday, May 19th. The shares were sold at an average price of $196.01, for a total value of $500,021.51. Following the sale, the director now owns 7,336 shares of the company’s stock, valued at $1,437,929.36. The disclosure for this sale can be found here. 6.70% of the stock is currently owned by 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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