General Dynamics Corporation (GD) Holdings Trimmed by SSI Investment Management Inc.
SSI Investment Management Inc. reduced its holdings in shares of General Dynamics Corporation (NYSE:GD) by 1.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,077 shares of the aerospace company’s stock after selling 23 shares during the period. SSI Investment Management Inc.’s holdings in General Dynamics Corporation were worth $413,000 as of its most recent SEC filing.
Other institutional investors have also modified their holdings of the company. Vantage Investment Advisors LLC grew its holdings in General Dynamics Corporation by 9.3% during the 2nd quarter. Vantage Investment Advisors LLC now owns 585 shares of the aerospace company’s stock worth $116,000 after acquiring an additional 50 shares during the period. Ruggie Capital Group acquired a new stake in General Dynamics Corporation during the 1st quarter worth about $119,000. Captrust Financial Advisors acquired a new stake in General Dynamics Corporation during the 2nd quarter worth about $129,000. Zions Bancorporation grew its holdings in General Dynamics Corporation by 0.5% during the 1st quarter. Zions Bancorporation now owns 732 shares of the aerospace company’s stock worth $137,000 after acquiring an additional 4 shares during the period. Finally, Global X Management Co. LLC grew its holdings in General Dynamics Corporation by 59.8% during the 1st quarter. Global X Management Co. LLC now owns 759 shares of the aerospace company’s stock worth $142,000 after acquiring an additional 284 shares during the period. Hedge funds and other institutional investors own 86.18% of the company’s stock.
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A number of analysts have weighed in on GD shares. Jefferies Group LLC reiterated a “buy” rating 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. Zacks Investment Research downgraded General Dynamics Corporation from a “buy” rating to a “hold” rating in a report on Friday, July 28th. Citigroup Inc. restated a “neutral” rating and issued a $210.00 target price (up from $207.00) on shares of General Dynamics Corporation in a research note on Friday, August 11th. Finally, ValuEngine upgraded General Dynamics Corporation from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Two analysts have rated the stock with a sell rating, four have issued a hold rating and eleven have assigned a buy rating to the company’s stock. General Dynamics Corporation has an average rating of “Buy” and a consensus price target of $206.59.
General Dynamics Corporation (NYSE GD) opened at 205.58 on Friday. General Dynamics Corporation has a 1-year low of $148.76 and a 1-year high of $206.57. The firm has a market cap of $61.63 billion, a P/E ratio of 20.31 and a beta of 0.71. The firm’s 50-day moving average price is $199.30 and its 200-day moving average price is $196.51.
General Dynamics Corporation (NYSE:GD) last announced its quarterly earnings data 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 analysts’ expectations of $7.76 billion. General Dynamics Corporation had a net margin of 9.63% and a return on equity of 28.17%. The business’s revenue was down 1.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.30 earnings per share. Equities research analysts anticipate that General Dynamics Corporation will post $9.80 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 10th. Shareholders of record on Friday, October 6th will be issued a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a 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%.
About General Dynamics Corporation
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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