Meiji Yasuda Asset Management Co Ltd. reduced its stake in shares of General Dynamics Corporation (NYSE:GD) by 1.2% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 10,663 shares of the aerospace company’s stock after selling 130 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in General Dynamics Corporation were worth $1,996,000 at the end of the most recent quarter.
Several other large investors have also recently added to or reduced their stakes in the stock. Roosevelt Investment Group Inc. boosted its stake in General Dynamics Corporation by 80.4% in the first quarter. Roosevelt Investment Group Inc. now owns 33,437 shares of the aerospace company’s stock valued at $6,259,000 after buying an additional 14,898 shares during the period. Marshall Wace North America L.P. purchased a new stake in General Dynamics Corporation during the first quarter valued at approximately $6,529,000. Guardian Life Insurance Co. of America boosted its stake in 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 period. MARSHALL WACE ASIA Ltd purchased a new stake in General Dynamics Corporation during the first quarter valued at approximately $6,529,000. Finally, Meeder Asset Management Inc. boosted its stake in General Dynamics Corporation by 4,009.0% in the first quarter. Meeder Asset Management Inc. now owns 4,109 shares of the aerospace company’s stock valued at $770,000 after buying an additional 4,009 shares during the period. 86.77% of the stock is owned by institutional investors.
Shares of General Dynamics Corporation (NYSE GD) traded up 0.37% during mid-day trading on Friday, hitting $198.73. The stock had a trading volume of 1,581,719 shares. General Dynamics Corporation has a 1-year low of $148.76 and a 1-year high of $205.90. The company has a market cap of $59.58 billion, a P/E ratio of 19.63 and a beta of 0.71. The firm’s 50 day moving average price is $199.79 and its 200 day moving average price is $194.45.
General Dynamics Corporation (NYSE:GD) last released its quarterly earnings results on Wednesday, July 26th. The aerospace company reported $2.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.43 by $0.02. The business had revenue of $7.68 billion during the quarter, compared to the consensus estimate of $7.76 billion. General Dynamics Corporation had a return on equity of 28.17% and a net margin of 9.63%. The company’s quarterly revenue was down 1.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.30 EPS. Analysts predict that General Dynamics Corporation will post $9.81 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, November 10th. Shareholders of record on Friday, October 6th will be paid a dividend of $0.84 per share. The ex-dividend date of this dividend is Thursday, October 5th. This represents a $3.36 dividend on an annualized basis and a yield of 1.69%. General Dynamics Corporation’s dividend payout ratio (DPR) is currently 34.57%.
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A number of brokerages recently commented on GD. UBS AG reaffirmed a “buy” rating and set a $225.00 price objective (up from $215.00) on shares of General Dynamics Corporation in a research note on Monday, June 12th. Zacks Investment Research cut General Dynamics Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, July 12th. BidaskClub cut General Dynamics Corporation from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 31st. Royal Bank Of Canada reaffirmed a “buy” rating and set a $220.00 price objective on shares of General Dynamics Corporation in a research note on Friday, June 2nd. Finally, Cowen and Company reaffirmed a “buy” rating and set a $210.00 price objective on shares of General Dynamics Corporation in a research note on Monday, July 17th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and eleven have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $206.59.
In other General Dynamics Corporation news, VP Christopher Marzilli sold 43,890 shares of General Dynamics Corporation stock in a transaction dated Tuesday, May 30th. The stock was sold at an average price of $201.37, for a total transaction 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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.
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