General Dynamics Corporation (GD) Position Lifted by Dearborn Partners LLC
Dearborn Partners LLC increased its holdings in shares of General Dynamics Corporation (NYSE:GD) by 0.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 65,930 shares of the aerospace company’s stock after acquiring an additional 300 shares during the quarter. Dearborn Partners LLC’s holdings in General Dynamics Corporation were worth $13,061,000 as of its most recent SEC filing.
Several other hedge funds have also bought and sold shares of GD. Ruggie Capital Group acquired a new position in General Dynamics Corporation in the 1st quarter valued at $119,000. Zions Bancorporation grew its holdings in General Dynamics Corporation by 0.5% in the 1st quarter. Zions Bancorporation now owns 732 shares of the aerospace company’s stock valued at $137,000 after buying an additional 4 shares in the last quarter. Global X Management Co. LLC grew its holdings in General Dynamics Corporation by 59.8% in the 1st 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 in the last quarter. Central Bank & Trust Co. grew its holdings in General Dynamics Corporation by 5.7% in the 2nd quarter. Central Bank & Trust Co. now owns 922 shares of the aerospace company’s stock valued at $183,000 after buying an additional 50 shares in the last quarter. Finally, First Command Bank grew its holdings in General Dynamics Corporation by 31.3% in the 2nd quarter. First Command Bank now owns 952 shares of the aerospace company’s stock valued at $189,000 after buying an additional 227 shares in the last quarter. 86.18% of the stock is currently owned by institutional investors and hedge funds.
A number of research analysts have commented on GD shares. Jefferies Group LLC reaffirmed a “buy” rating on shares of General Dynamics Corporation in a report on Friday, August 11th. ValuEngine raised General Dynamics Corporation from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. BidaskClub raised General Dynamics Corporation from a “hold” rating to a “buy” rating in a report on Tuesday, August 8th. Zacks Investment Research lowered General Dynamics Corporation from a “buy” rating to a “hold” rating in a report on Friday, July 28th. Finally, Citigroup Inc. reaffirmed a “neutral” rating and issued a $210.00 price objective (up from $207.00) on shares of General Dynamics Corporation in a report on Friday, August 11th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and eleven have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $206.59.
Shares of General Dynamics Corporation (GD) opened at 205.41 on Friday. General Dynamics Corporation has a 52-week low of $148.76 and a 52-week high of $206.51. The stock’s 50 day moving average price is $199.30 and its 200-day moving average price is $196.51. The company has a market capitalization of $61.58 billion, a P/E ratio of 20.29 and a beta of 0.71.
General Dynamics Corporation (NYSE:GD) last announced its quarterly earnings results on Wednesday, July 26th. The aerospace company reported $2.45 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.43 by $0.02. The company 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 firm’s quarterly revenue was down 1.3% compared to the same quarter last year. During the same period in the previous year, the business earned $2.30 earnings per share. On average, equities analysts expect that General Dynamics Corporation will post $9.80 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, November 10th. Stockholders of record on Friday, October 6th will be given a $0.84 dividend. This represents a $3.36 annualized dividend and a dividend yield of 1.64%. The ex-dividend date is Thursday, October 5th. General Dynamics Corporation’s dividend payout ratio (DPR) is presently 34.57%.
General Dynamics Corporation 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.
Want to see what other hedge funds are holding GD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for General Dynamics Corporation (NYSE:GD).
Receive News & Ratings for General Dynamics Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for General Dynamics Corporation and related companies with Analyst Ratings Network's FREE daily email newsletter.