General Dynamics Co. (NYSE:GD) Stock Holdings Lowered by Scotia Capital Inc.
Scotia Capital Inc. lowered its position in shares of General Dynamics Co. (NYSE:GD) by 10.3% in the 2nd quarter, Holdings Channel reports. The fund owned 24,911 shares of the aerospace company’s stock after selling 2,852 shares during the period. Scotia Capital Inc.’s holdings in General Dynamics were worth $4,530,000 as of its most recent filing with the SEC.
Several other institutional investors have also recently added to or reduced their stakes in the company. Geode Capital Management LLC lifted its holdings in General Dynamics by 5.8% in the fourth 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 during the period. Alps Advisors Inc. acquired a new stake in General Dynamics in the first quarter worth about $404,000. United Bank lifted its holdings in General Dynamics by 3.9% in the first quarter. United Bank now owns 4,740 shares of the aerospace company’s stock worth $802,000 after purchasing an additional 180 shares during the period. Cetera Advisors LLC lifted its holdings in General Dynamics by 19.7% in the first quarter. Cetera Advisors LLC now owns 4,246 shares of the aerospace company’s stock worth $715,000 after purchasing an additional 698 shares during the period. Finally, Cetera Advisor Networks LLC lifted its holdings in General Dynamics by 32.1% in the first quarter. Cetera Advisor Networks LLC now owns 6,858 shares of the aerospace company’s stock worth $1,162,000 after purchasing an additional 1,666 shares during the period. Institutional investors and hedge funds own 86.31% of the company’s stock.
Several research firms recently weighed in on GD. Robert W. Baird upped their price objective on shares of General Dynamics from $188.00 to $218.00 and gave the stock an “outperform” rating in a report on Wednesday, July 10th. ValuEngine raised shares of General Dynamics from a “sell” rating to a “hold” rating in a report on Thursday, June 6th. Goldman Sachs Group raised shares of General Dynamics from a “neutral” rating to a “buy” rating and set a $204.00 price objective for the company in a report on Sunday, May 19th. Morgan Stanley upped their price objective on shares of General Dynamics from $171.00 to $173.00 and gave the stock an “underweight” rating in a report on Wednesday, August 14th. Finally, Cowen set a $202.00 price objective on shares of General Dynamics and gave the stock a “buy” rating in a report on Friday, August 30th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and seven have assigned a buy rating to the company. General Dynamics has a consensus rating of “Hold” and a consensus price target of $193.35.
NYSE GD traded up $0.66 on Friday, reaching $190.07. The company’s stock had a trading volume of 34,813 shares, compared to its average volume of 972,727. General Dynamics Co. has a twelve month low of $143.87 and a twelve month high of $207.72. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.73 and a current ratio of 1.09. The stock has a market cap of $54.84 billion, a PE ratio of 16.61, a PEG ratio of 1.81 and a beta of 1.19. The firm’s 50 day moving average is $186.28 and its two-hundred day moving average is $176.38.
General Dynamics (NYSE:GD) last issued its quarterly earnings results on Wednesday, July 24th. The aerospace company reported $2.77 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.68 by $0.09. General Dynamics had a net margin of 8.65% and a return on equity of 26.81%. The company had revenue of $9.56 billion during the quarter, compared to the consensus estimate of $9.36 billion. During the same period in the prior year, the company earned $2.82 EPS. General Dynamics’s revenue was up 4.0% on a year-over-year basis. Equities research analysts anticipate that General Dynamics Co. will post 11.88 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, October 11th will be paid a dividend of $1.02 per share. This represents a $4.08 dividend on an annualized basis and a yield of 2.15%. The ex-dividend date of this dividend is Thursday, October 10th. General Dynamics’s dividend payout ratio is presently 35.73%.
General Dynamics 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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