Formidable Asset Management LLC Purchases 100 Shares of General Dynamics Corporation (GD)
Formidable Asset Management LLC raised its position in General Dynamics Corporation (NYSE:GD) by 1.2% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,473 shares of the aerospace company’s stock after purchasing an additional 100 shares during the period. General Dynamics Corporation comprises about 0.8% of Formidable Asset Management LLC’s investment portfolio, making the stock its 17th largest position. Formidable Asset Management LLC’s holdings in General Dynamics Corporation were worth $1,679,000 at the end of the most recent reporting period.
Several other institutional investors have also recently added to or reduced their stakes in the business. Vantage Investment Advisors LLC grew its holdings in shares of General Dynamics Corporation by 9.3% during the second quarter. Vantage Investment Advisors LLC now owns 585 shares of the aerospace company’s stock worth $116,000 after buying an additional 50 shares in the last quarter. Ruggie Capital Group acquired a new position in shares of General Dynamics Corporation in the first quarter valued at approximately $119,000. Captrust Financial Advisors purchased a new position in shares of General Dynamics Corporation during the second quarter valued at approximately $129,000. Zions Bancorporation lifted its stake in shares of General Dynamics Corporation by 0.5% during 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 period. Finally, Global X Management Co. LLC lifted its stake in shares of General Dynamics Corporation by 59.8% during 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 period. 86.18% of the stock is currently owned by institutional investors.
General Dynamics Corporation (GD) opened at 205.58 on Monday. General Dynamics Corporation has a 1-year low of $148.76 and a 1-year high of $207.60. The firm has a market capitalization of $61.63 billion, a price-to-earnings ratio of 20.31 and a beta of 0.72. The stock has a 50 day moving average price of $199.30 and a 200 day moving average price of $196.51.
General Dynamics Corporation (NYSE:GD) last posted its quarterly earnings results on Wednesday, July 26th. The aerospace company reported $2.45 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.43 by $0.02. The business had revenue of $7.68 billion for the quarter, compared to the consensus estimate of $7.76 billion. General Dynamics Corporation had a net margin of 9.63% and a return on equity of 28.17%. General Dynamics Corporation’s revenue for the quarter was down 1.3% compared to the same quarter last year. During the same period in the prior year, the business posted $2.30 earnings per share. Analysts predict that General Dynamics Corporation will post $9.80 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, November 10th. Stockholders of record on Friday, October 6th will be paid a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a dividend yield of 1.63%. The ex-dividend date of this dividend is Thursday, October 5th. General Dynamics Corporation’s dividend payout ratio (DPR) is presently 34.57%.
GD has been the topic of a number of analyst reports. ValuEngine upgraded shares of General Dynamics Corporation from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Jefferies Group LLC reaffirmed a “buy” rating on shares of General Dynamics Corporation in a research note on Friday, August 11th. Citigroup Inc. reiterated a “neutral” rating and issued a $210.00 price target (up from $207.00) on shares of General Dynamics Corporation in a report on Friday, August 11th. BidaskClub upgraded General Dynamics Corporation from a “hold” rating to a “buy” rating in a report on Tuesday, August 8th. Finally, Morgan Stanley assumed coverage on General Dynamics Corporation in a research note on Tuesday, August 8th. They set an “underweight” rating and a $185.00 price target on the stock. Two analysts have rated the stock with a sell rating, four have issued a hold rating and eleven have given a buy rating to the company. The company has an average rating of “Buy” and an average price target of $206.59.
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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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