Psagot Investment House Ltd. trimmed its stake in shares of General Dynamics Co. (NYSE:GD) by 16.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 552 shares of the aerospace company’s stock after selling 106 shares during the quarter. Psagot Investment House Ltd.’s holdings in General Dynamics were worth $100,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Arrow Financial Corp raised its position in General Dynamics by 1.8% in the 2nd quarter. Arrow Financial Corp now owns 6,859 shares of the aerospace company’s stock worth $1,247,000 after purchasing an additional 118 shares during the last quarter. Washington Trust Bank raised its position in General Dynamics by 25.0% in the 2nd quarter. Washington Trust Bank now owns 2,048 shares of the aerospace company’s stock worth $372,000 after purchasing an additional 410 shares during the last quarter. Advisor Partners LLC raised its position in General Dynamics by 5.3% in the 2nd quarter. Advisor Partners LLC now owns 6,206 shares of the aerospace company’s stock worth $1,128,000 after purchasing an additional 311 shares during the last quarter. Taylor Cottrill Erickson & Associates Inc. raised its position in General Dynamics by 3.0% in the 2nd quarter. Taylor Cottrill Erickson & Associates Inc. now owns 9,513 shares of the aerospace company’s stock worth $1,730,000 after purchasing an additional 280 shares during the last quarter. Finally, Creative Planning raised its position in General Dynamics by 11.1% in the 2nd quarter. Creative Planning now owns 16,441 shares of the aerospace company’s stock worth $2,989,000 after purchasing an additional 1,646 shares during the last quarter. 86.79% of the stock is currently owned by institutional investors.
In other news, VP Gary L. Whited sold 14,029 shares of the business’s stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $188.38, for a total value of $2,642,783.02. Following the completion of the transaction, the vice president now owns 37,542 shares of the company’s stock, valued at approximately $7,072,161.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director William A. Osborn sold 1,500 shares of the business’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $182.56, for a total transaction of $273,840.00. Following the completion of the transaction, the director now directly owns 37,585 shares of the company’s stock, valued at approximately $6,861,517.60. The disclosure for this sale can be found here. Insiders own 7.10% of the company’s stock.
Shares of General Dynamics stock traded down $0.07 on Friday, hitting $184.10. 700,185 shares of the company’s stock traded hands, compared to its average volume of 1,134,630. The firm has a 50-day moving average price of $183.08. The company has a market cap of $52.24 billion, a PE ratio of 16.12, a PEG ratio of 1.75 and a beta of 1.21. General Dynamics Co. has a one year low of $143.87 and a one year high of $207.72. The company has a quick ratio of 0.73, a current ratio of 1.09 and a debt-to-equity ratio of 0.70.
General Dynamics (NYSE:GD) last issued its earnings results on Wednesday, July 24th. The aerospace company reported $2.77 EPS for the quarter, beating the consensus estimate of $2.68 by $0.09. The company had revenue of $9.56 billion during the quarter, compared to analysts’ expectations of $9.36 billion. General Dynamics had a net margin of 8.65% and a return on equity of 26.81%. The business’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.82 EPS. Research analysts expect that General Dynamics Co. will post 11.83 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, October 11th will be given a dividend of $1.02 per share. This represents a $4.08 annualized dividend and a dividend yield of 2.22%. The ex-dividend date is Thursday, October 10th. General Dynamics’s payout ratio is 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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