Earnest Partners LLC lowered its stake in General Dynamics Corporation (NYSE:GD) by 14.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 190,280 shares of the aerospace company’s stock after selling 30,874 shares during the period. Earnest Partners LLC owned about 0.06% of General Dynamics Corporation worth $35,620,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of GD. Quadrant Capital Group LLC increased its position 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 valued at $108,000 after buying an additional 4 shares during the last quarter. Ruggie Capital Group acquired a new stake in General Dynamics Corporation during the first quarter worth $119,000. Pinnacle Bank acquired a new stake in General Dynamics Corporation during the first quarter worth $126,000. Global X Management Co. LLC boosted its stake in 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. Finally, Central Bank & Trust Co. boosted its stake in General Dynamics Corporation by 33.9% in the first quarter. Central Bank & Trust Co. now owns 872 shares of the aerospace company’s stock worth $164,000 after buying an additional 221 shares during the last quarter. Institutional investors own 86.77% of the company’s stock.
General Dynamics Corporation (GD) traded up 0.37% on Friday, reaching $198.73. 1,581,719 shares of the company were exchanged. The company’s 50-day moving average price is $199.79 and its 200-day moving average price is $194.45. General Dynamics Corporation has a 12-month low of $148.76 and a 12-month high of $205.90. The stock has a market capitalization of $59.58 billion, a P/E ratio of 19.63 and a beta of 0.71.
General Dynamics Corporation (NYSE:GD) last released its quarterly earnings data on Wednesday, July 26th. The aerospace company reported $2.45 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.43 by $0.02. The business 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 company’s revenue was down 1.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.30 earnings per share. Equities research analysts anticipate that General Dynamics Corporation will post $9.81 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 10th. Shareholders of record on Friday, October 6th will be issued a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a yield of 1.69%. The ex-dividend date is Thursday, October 5th. General Dynamics Corporation’s dividend payout ratio (DPR) is presently 34.57%.
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GD has been the topic of a number of analyst reports. Cowen and Company reissued a “buy” rating and issued a $210.00 target price on shares of General Dynamics Corporation in a research note on Monday, July 17th. BidaskClub lowered shares of General Dynamics Corporation from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, June 27th. Sanford C. Bernstein restated a “mkt perform” rating on shares of General Dynamics Corporation in a research report on Wednesday, May 10th. Barclays PLC restated an “overweight” rating and issued a $210.00 price target (up from $200.00) on shares of General Dynamics Corporation in a research report on Monday, May 1st. Finally, Zacks Investment Research lowered shares of General Dynamics Corporation from a “buy” rating to a “hold” rating in a research report on Friday, July 28th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and eleven have issued a buy rating to the stock. General Dynamics Corporation has an average rating of “Buy” and a consensus price target of $206.59.
In other General Dynamics Corporation news, VP Christopher Marzilli sold 43,890 shares of the company’s stock in a transaction dated 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 directly owns 107,857 shares of the company’s stock, valued at $21,719,164.09. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 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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