General Dynamics Corporation (GD) Position Held by Guinness Atkinson Asset Management Inc
Guinness Atkinson Asset Management Inc continued to hold its position in shares of General Dynamics Corporation (NYSE:GD) during the second quarter, Holdings Channel reports. The institutional investor owned 1,260 shares of the aerospace company’s stock at the end of the second quarter. Guinness Atkinson Asset Management Inc’s holdings in General Dynamics Corporation were worth $250,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also modified their holdings of the company. Quadrant Capital Group LLC raised its position in shares of General Dynamics Corporation by 0.7% in the first quarter. Quadrant Capital Group LLC now owns 608 shares of the aerospace company’s stock valued at $108,000 after buying an additional 4 shares during the period. Ruggie Capital Group purchased a new position in General Dynamics Corporation during the first quarter valued at $119,000. Pinnacle Bank purchased a new position in General Dynamics Corporation during the first quarter valued at $126,000. Zions Bancorporation raised its position in General Dynamics Corporation by 0.5% in 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 last quarter. Finally, Global X Management Co. LLC raised its position in General Dynamics Corporation by 59.8% in 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 last quarter. 87.52% of the stock is currently owned by institutional investors.
Shares of General Dynamics Corporation (NYSE:GD) traded up 0.44% during midday trading on Friday, hitting $199.16. The stock had a trading volume of 473,157 shares. The stock’s 50-day moving average is $199.91 and its 200-day moving average is $193.59. General Dynamics Corporation has a 12 month low of $148.76 and a 12 month high of $205.90. The stock has a market cap of $59.71 billion, a PE ratio of 19.68 and a beta of 0.71.
General Dynamics Corporation (NYSE:GD) last issued its quarterly earnings results on Wednesday, July 26th. The aerospace company reported $2.45 EPS for the quarter, topping analysts’ consensus estimates of $2.43 by $0.02. The business had revenue of $7.68 billion during the quarter, compared to analysts’ expectations of $7.76 billion. General Dynamics Corporation had a return on equity of 28.17% and a net margin of 9.63%. The business’s quarterly revenue was down 1.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.30 earnings per share. Equities analysts anticipate that General Dynamics Corporation will post $9.82 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, November 10th. Investors of record on Friday, October 6th will be given a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a dividend yield of 1.69%. The ex-dividend date of this dividend is Thursday, October 5th. General Dynamics Corporation’s dividend payout ratio is currently 34.57%.
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A number of brokerages have weighed in on GD. Cowen and Company reaffirmed an “outperform” rating and issued a $207.00 price target on shares of General Dynamics Corporation in a research note on Monday, April 17th. Zacks Investment Research upgraded shares of General Dynamics Corporation from a “hold” rating to a “buy” rating and set a $224.00 price objective on the stock in a report on Tuesday, June 27th. BidaskClub downgraded shares of General Dynamics Corporation from a “strong-buy” rating to a “buy” rating in a report on Sunday, July 16th. Royal Bank Of Canada boosted their target price on shares of General Dynamics Corporation from $211.00 to $220.00 and gave the stock an “outperform” rating in a report on Thursday, April 27th. Finally, Morgan Stanley started coverage on shares of General Dynamics Corporation in a report on Tuesday. They set an “underweight” rating and a $185.00 target price on the stock. Two research analysts have rated the stock with a sell rating, four have given a hold rating and eleven have given a buy rating to the company. General Dynamics Corporation currently has a consensus rating of “Buy” and a consensus target price of $206.05.
In related news, Director Lester L. Lyles sold 2,551 shares of the stock in a transaction that occurred on Friday, May 19th. The stock was sold at an average price of $196.01, for a total transaction of $500,021.51. Following the completion of the transaction, the director now directly owns 7,336 shares of the company’s stock, valued at $1,437,929.36. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Christopher Marzilli sold 43,890 shares of the stock in a transaction that occurred on Tuesday, May 30th. The shares were sold at an average price of $201.37, for a total value of $8,838,129.30. Following the transaction, the vice president now directly owns 107,857 shares of the company’s stock, valued at $21,719,164.09. The disclosure for this sale can be found here. Company insiders own 6.70% of the company’s stock.
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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