Schmidt P J Investment Management Inc. Lowers Position in General Dynamics Corporation (GD)

Schmidt P J Investment Management Inc. lowered its position in General Dynamics Corporation (NYSE:GD) by 0.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 8,719 shares of the aerospace company’s stock after selling 80 shares during the period. Schmidt P J Investment Management Inc.’s holdings in General Dynamics Corporation were worth $1,727,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. 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 bought a new position in General Dynamics Corporation during the first quarter valued at about $119,000. Pinnacle Bank bought a new position in General Dynamics Corporation during the first quarter valued at about $126,000. Zions Bancorporation increased its position in 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 last quarter. Finally, Global X Management Co. LLC increased its position 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 valued at $142,000 after buying an additional 284 shares during the last quarter. 86.77% of the stock is currently owned by hedge funds and other institutional investors.

Shares of General Dynamics Corporation (NYSE:GD) traded up 0.37% during midday trading on Friday, hitting $198.73. 1,581,719 shares of the company’s stock were exchanged. General Dynamics Corporation has a one year low of $148.76 and a one year high of $205.90. The stock’s 50-day moving average price is $199.79 and its 200 day moving average price is $194.45. The firm has a market cap of $59.58 billion, a PE ratio of 19.63 and a beta of 0.71.

General Dynamics Corporation (NYSE:GD) last issued its quarterly earnings results on Wednesday, July 26th. The aerospace company reported $2.45 EPS for the quarter, beating analysts’ consensus estimates of $2.43 by $0.02. The company had revenue of $7.68 billion for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period last year, the company earned $2.30 earnings per share. Equities research analysts forecast that General Dynamics Corporation will post $9.81 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 10th. Stockholders of record on Friday, October 6th will be issued a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a dividend yield of 1.69%. The ex-dividend date of this dividend is Thursday, October 5th. General Dynamics Corporation’s dividend payout ratio (DPR) is 34.57%.

ILLEGAL ACTIVITY WARNING: This news story was first posted by Community Financial News and is the property of of Community Financial News. If you are accessing this news story on another site, it was copied illegally and reposted in violation of United States and international trademark & copyright laws. The legal version of this news story can be read at https://www.com-unik.info/2017/08/19/schmidt-p-j-investment-management-inc-has-1-73-million-position-in-general-dynamics-corporation-gd-updated-updated.html.

GD has been the topic of several recent analyst reports. Jefferies Group LLC reaffirmed a “buy” rating and set a $220.00 price objective on shares of General Dynamics Corporation in a report on Friday, July 7th. BidaskClub downgraded shares of General Dynamics Corporation from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, June 27th. 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 research note on Tuesday, June 27th. UBS AG reissued a “buy” rating and issued a $225.00 price target (up from $215.00) on shares of General Dynamics Corporation in a research note on Monday, June 12th. Finally, Royal Bank Of Canada reissued a “buy” rating and issued a $220.00 price target on shares of General Dynamics Corporation in a research note on Friday, June 2nd. Two equities 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. General Dynamics Corporation currently has an average rating of “Buy” and a consensus price target of $206.59.

In related 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 transaction, 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 filing with the SEC, which is available through this hyperlink. 6.70% of the stock is currently owned by company 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)

What are top analysts saying about General Dynamics Corporation? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for General Dynamics Corporation and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit