Outfitter Advisors LTD. boosted its position in shares of General Dynamics Corporation (NYSE:GD) by 0.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,970 shares of the aerospace company’s stock after buying an additional 45 shares during the period. Outfitter Advisors LTD.’s holdings in General Dynamics Corporation were worth $1,679,000 at the end of the most recent quarter.
Several other large investors have also recently added to or reduced their stakes in the stock. Quadrant Capital Group LLC increased its stake 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 worth $108,000 after buying an additional 4 shares in the last quarter. North Star Investment Management Corp. increased its stake in General Dynamics Corporation by 0.5% in the first quarter. North Star Investment Management Corp. now owns 3,316 shares of the aerospace company’s stock worth $621,000 after buying an additional 16 shares in the last quarter. CAPROCK Group Inc. increased its stake in General Dynamics Corporation by 1.2% in the first quarter. CAPROCK Group Inc. now owns 2,521 shares of the aerospace company’s stock worth $472,000 after buying an additional 30 shares in the last quarter. Greenleaf Trust increased its stake in General Dynamics Corporation by 2.4% in the first quarter. Greenleaf Trust now owns 1,392 shares of the aerospace company’s stock worth $261,000 after buying an additional 32 shares in the last quarter. Finally, Citizens & Northern Corp increased its stake in General Dynamics Corporation by 1.1% in the fourth quarter. Citizens & Northern Corp now owns 3,638 shares of the aerospace company’s stock worth $628,000 after buying an additional 41 shares in the last quarter. Institutional investors and hedge funds own 87.21% of the company’s stock.
General Dynamics Corporation (GD) opened at 202.67 on Friday. The stock has a market capitalization of $61.16 billion, a PE ratio of 20.33 and a beta of 0.70. The company has a 50-day moving average price of $197.98 and a 200-day moving average price of $187.08. General Dynamics Corporation has a 12-month low of $132.68 and a 12-month high of $205.07.
General Dynamics Corporation (NYSE:GD) last issued its quarterly earnings data on Wednesday, April 26th. The aerospace company reported $2.48 EPS for the quarter, beating the consensus estimate of $2.32 by $0.16. General Dynamics Corporation had a return on equity of 28.22% and a net margin of 9.66%. The company had revenue of $7.44 billion for the quarter, compared to analyst estimates of $7.70 billion. During the same period last year, the company earned $2.08 earnings per share. General Dynamics Corporation’s quarterly revenue was down .5% compared to the same quarter last year. Analysts expect 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, August 11th. Shareholders of record on Friday, July 7th will be issued a $0.84 dividend. This represents a $3.36 annualized dividend and a yield of 1.66%. The ex-dividend date of this dividend is Wednesday, July 5th. General Dynamics Corporation’s payout ratio is currently 34.60%.
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A number of equities research analysts have issued reports on the company. Jefferies Group LLC restated a “buy” rating and set a $200.00 price target on shares of General Dynamics Corporation in a research note on Tuesday, April 18th. Royal Bank Of Canada reiterated a “buy” rating and set a $220.00 price objective on shares of General Dynamics Corporation in a research note on Friday, June 2nd. Vetr upgraded General Dynamics Corporation from a “sell” rating to a “hold” rating and set a $183.78 price objective for the company in a research note on Monday, March 27th. Stifel Nicolaus boosted their price objective on General Dynamics Corporation from $173.00 to $200.00 and gave the company a “hold” rating in a research note on Thursday, April 27th. Finally, Sanford C. Bernstein reiterated a “mkt perform” rating on shares of General Dynamics Corporation in a research note on Wednesday, May 10th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $198.98.
In other General Dynamics Corporation news, VP Mark Lagrand Burns sold 19,075 shares of the firm’s stock in a transaction that occurred on Wednesday, March 29th. The stock was sold at an average price of $187.89, for a total value of $3,584,001.75. Following the sale, the vice president now directly owns 48,453 shares of the company’s stock, valued at $9,103,834.17. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Lester L. Lyles sold 2,551 shares of the firm’s stock in a transaction that occurred on Friday, May 19th. The shares were sold at an average price of $196.01, for a total value of $500,021.51. Following the completion of the sale, the director now directly owns 7,336 shares in the company, valued at $1,437,929.36. The disclosure for this sale can be found here. Over the last three months, insiders sold 75,376 shares of company stock worth $14,776,523. 6.70% of the stock is owned by corporate 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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