Cypress Asset Management Inc. TX lessened its stake in General Dynamics Co. (NYSE:GD) by 6.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,978 shares of the aerospace company’s stock after selling 767 shares during the period. Cypress Asset Management Inc. TX’s holdings in General Dynamics were worth $1,858,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds also recently bought and sold shares of GD. Naples Global Advisors LLC grew its holdings in General Dynamics by 3.1% in the 1st quarter. Naples Global Advisors LLC now owns 3,339 shares of the aerospace company’s stock valued at $565,000 after buying an additional 99 shares in the last quarter. Choate Investment Advisors raised its position in General Dynamics by 8.4% in the 1st quarter. Choate Investment Advisors now owns 7,707 shares of the aerospace company’s stock valued at $1,305,000 after purchasing an additional 600 shares in the last quarter. Capital Investment Counsel Inc purchased a new position in General Dynamics during the 1st quarter worth approximately $203,000. CNB Bank lifted its position in General Dynamics by 11.6% during the 1st quarter. CNB Bank now owns 3,747 shares of the aerospace company’s stock worth $634,000 after acquiring an additional 389 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in General Dynamics by 5.2% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 49,167 shares of the aerospace company’s stock worth $8,323,000 after acquiring an additional 2,430 shares during the period. Institutional investors own 86.41% of the company’s stock.
In other news, Director Lester L. Lyles sold 4,580 shares of the company’s stock in a transaction that occurred on Friday, February 22nd. The stock was sold at an average price of $172.42, for a total transaction of $789,683.60. Following the completion of the transaction, the director now directly owns 12,314 shares of the company’s stock, valued at $2,123,179.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP John Patrick Casey sold 45,470 shares of the company’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $172.46, for a total value of $7,841,756.20. Following the transaction, the executive vice president now directly owns 148,133 shares of the company’s stock, valued at $25,547,017.18. The disclosure for this sale can be found here. Over the last three months, insiders sold 64,690 shares of company stock valued at $11,052,603. 7.10% of the stock is owned by corporate insiders.
GD has been the subject of several research reports. Zacks Investment Research cut General Dynamics from a “hold” rating to a “sell” rating in a report on Thursday, February 21st. Cowen reaffirmed a “buy” rating on shares of General Dynamics in a research report on Wednesday, March 6th. Argus downgraded General Dynamics from a “buy” rating to a “hold” rating and set a $170.91 price objective for the company. in a research report on Thursday, January 31st. Credit Suisse Group downgraded General Dynamics from an “outperform” rating to a “neutral” rating and lowered their price objective for the company from $190.00 to $184.00 in a research report on Friday, February 15th. Finally, ValuEngine downgraded General Dynamics from a “hold” rating to a “sell” rating in a research report on Saturday, February 2nd. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and seven have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $198.16.
Shares of NYSE:GD traded down $2.17 during trading on Wednesday, hitting $169.28. The company’s stock had a trading volume of 916,570 shares, compared to its average volume of 1,369,919. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.82 and a current ratio of 1.23. General Dynamics Co. has a fifty-two week low of $143.87 and a fifty-two week high of $208.88. The stock has a market cap of $48.06 billion, a price-to-earnings ratio of 14.82, a price-to-earnings-growth ratio of 1.59 and a beta of 1.13.
General Dynamics (NYSE:GD) last released its quarterly earnings results on Wednesday, April 24th. The aerospace company reported $2.56 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.38 by $0.18. The business had revenue of $9.26 billion for the quarter, compared to analysts’ expectations of $8.90 billion. General Dynamics had a return on equity of 27.62% and a net margin of 8.68%. The company’s revenue was up 22.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.65 earnings per share. On average, equities research analysts predict that General Dynamics Co. will post 11.74 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, May 10th. Investors of record on Friday, April 12th were issued a $1.02 dividend. This is a positive change from General Dynamics’s previous quarterly dividend of $0.93. This represents a $4.08 annualized dividend and a yield of 2.41%. The ex-dividend date of this dividend was Thursday, April 11th. General Dynamics’s payout ratio is currently 35.73%.
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General Dynamics Company Profile
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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