Central Bank & Trust Co. trimmed its holdings in shares of General Dynamics Co. (NYSE:GD) by 53.2% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 500 shares of the aerospace company’s stock after selling 568 shares during the period. Central Bank & Trust Co.’s holdings in General Dynamics were worth $91,000 as of its most recent filing with the SEC.
Other institutional investors have also bought and sold shares of the company. Longview Asset Management LLC lifted its holdings in shares of General Dynamics by 0.7% in the 1st quarter. Longview Asset Management LLC now owns 32,898,410 shares of the aerospace company’s stock worth $5,569,043,000 after purchasing an additional 215,179 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of General Dynamics by 5.8% in the 4th quarter. Geode Capital Management LLC now owns 3,511,536 shares of the aerospace company’s stock worth $551,080,000 after purchasing an additional 193,294 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec lifted its holdings in shares of General Dynamics by 8.1% in the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 3,365,297 shares of the aerospace company’s stock worth $569,677,000 after purchasing an additional 252,900 shares in the last quarter. Ellis Investment Partners LLC lifted its holdings in shares of General Dynamics by 16,833.7% in the 1st quarter. Ellis Investment Partners LLC now owns 960,820 shares of the aerospace company’s stock worth $960,000 after purchasing an additional 955,146 shares in the last quarter. Finally, Thoroughbred Financial Services LLC lifted its holdings in shares of General Dynamics by 18,507.6% in the 2nd quarter. Thoroughbred Financial Services LLC now owns 926,285 shares of the aerospace company’s stock worth $92,628,000 after purchasing an additional 921,307 shares in the last quarter. Hedge funds and other institutional investors own 86.47% of the company’s stock.
Several equities analysts have weighed in on the company. UBS Group restated a “buy” rating and set a $124.00 price objective on shares of Cie Gnrl des Etblsmnts Michelin SCA in a research note on Thursday, April 25th. Morgan Stanley set a $18.00 price objective on PG&E and gave the company a “hold” rating in a research note on Friday, June 14th. Robert W. Baird raised their price objective on Northrop Grumman from $300.00 to $364.00 and gave the company an “outperform” rating in a research note on Wednesday, July 10th. JPMorgan Chase & Co. restated a “hold” rating and set a $7.00 price objective on shares of Deutsche Bank in a research note on Thursday, April 25th. Finally, Cowen restated an “outperform” rating and set a $230.00 price objective (up from $200.00) on shares of Norfolk Southern in a research note on Wednesday, April 24th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eight have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $196.00.
Shares of General Dynamics stock traded up $0.42 during trading hours on Friday, hitting $188.04. 284,427 shares of the company’s stock traded hands, compared to its average volume of 1,053,950. General Dynamics Co. has a 12-month low of $143.87 and a 12-month high of $207.72. The stock has a market capitalization of $54.20 billion, a PE ratio of 16.47, a price-to-earnings-growth ratio of 1.79 and a beta of 1.20. The stock’s fifty day moving average is $179.37. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.09 and a quick ratio of 0.82.
General Dynamics (NYSE:GD) last announced its earnings results on Wednesday, July 24th. The aerospace company reported $2.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.68 by $0.09. General Dynamics had a return on equity of 26.81% and a net margin of 8.65%. The firm had revenue of $9.56 billion during the quarter, compared to analyst estimates of $9.36 billion. During the same period last year, the firm posted $2.82 EPS. The business’s revenue was up 4.0% compared to the same quarter last year. Sell-side analysts anticipate that General Dynamics Co. will post 11.76 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, August 9th. Stockholders of record on Friday, July 5th will be given a dividend of $1.02 per share. This represents a $4.08 annualized dividend and a dividend yield of 2.17%. The ex-dividend date of this dividend is Wednesday, July 3rd. General Dynamics’s dividend payout ratio is presently 35.73%.
About General Dynamics
General Dynamics Corporation operates as an aerospace and defense company worldwide. It operates in five segments: Aerospace, Combat Systems, Information Technology, Mission Systems, and Marine Systems. The Aerospace segment designs, manufactures, and supports business-jet aircraft; and offers business-aviation services, including maintenance, fixed-base operation, government fleet, aircraft management, charter, and staffing services, as well as integrated aviation solutions.
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