General Dynamics Corporation (GD) Position Maintained by Cobiz Wealth LLC
Cobiz Wealth LLC continued to hold its stake in shares of General Dynamics Corporation (NYSE:GD) during the second quarter, according to its most recent disclosure with the SEC. The firm owned 1,872 shares of the aerospace company’s stock at the end of the second quarter. Cobiz Wealth LLC’s holdings in General Dynamics Corporation were worth $371,000 as of its most recent filing with the SEC.
Other hedge funds have also made changes to their positions in the company. Ruggie Capital Group acquired a new stake in shares of General Dynamics Corporation during the first quarter worth about $119,000. Pinnacle Bank purchased a new stake in shares of General Dynamics Corporation during the first quarter valued at $126,000. Zions Bancorporation raised its stake in shares of 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 in the last quarter. Global X Management Co. LLC raised its stake in shares of 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 in the last quarter. Finally, Central Bank & Trust Co. raised its stake in shares of General Dynamics Corporation by 33.9% in the first quarter. Central Bank & Trust Co. now owns 872 shares of the aerospace company’s stock valued at $164,000 after buying an additional 221 shares in the last quarter. 86.77% of the stock is currently owned by institutional investors and hedge funds.
General Dynamics Corporation (NYSE GD) traded up 0.6949% during trading on Wednesday, hitting $200.8762. The stock had a trading volume of 246,572 shares. General Dynamics Corporation has a 52 week low of $148.76 and a 52 week high of $205.90. The stock has a 50-day moving average price of $199.77 and a 200-day moving average price of $194.26. The company has a market cap of $60.22 billion, a PE ratio of 19.8455 and a beta of 0.71.
General Dynamics Corporation (NYSE:GD) last posted its quarterly earnings results on Wednesday, July 26th. The aerospace company reported $2.45 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.43 by $0.02. General Dynamics Corporation had a net margin of 9.63% and a return on equity of 28.17%. The firm had revenue of $7.68 billion during the quarter, compared to analyst estimates of $7.76 billion. During the same quarter in the prior year, the business posted $2.30 earnings per share. The company’s quarterly revenue was down 1.3% compared to the same quarter last year. Equities analysts predict that General Dynamics Corporation will post $9.82 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, November 10th. Investors of record on Friday, October 6th will be given a $0.84 dividend. This represents a $3.36 annualized dividend and a yield of 1.68%. The ex-dividend date is Thursday, October 5th. General Dynamics Corporation’s dividend payout ratio (DPR) is presently 34.57%.
Several brokerages recently weighed in on GD. Zacks Investment Research raised General Dynamics Corporation from a “hold” rating to a “buy” rating and set a $224.00 price objective for the company in a report on Tuesday, June 27th. BidaskClub lowered 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 price objective on General Dynamics Corporation from $211.00 to $220.00 and gave the company an “outperform” rating in a report on Thursday, April 27th. Morgan Stanley began coverage on General Dynamics Corporation in a report on Tuesday, August 8th. They issued an “underweight” rating and a $185.00 price objective for the company. Finally, Jefferies Group LLC reissued a “buy” rating and issued a $220.00 price objective (up from $200.00) on shares of General Dynamics Corporation in a report on Friday, April 28th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and eleven have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $206.59.
In related news, VP Christopher Marzilli sold 43,890 shares of the stock in a transaction dated 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 completion of the transaction, the vice president now owns 107,857 shares of the company’s stock, valued at $21,719,164.09. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Lester L. Lyles sold 2,551 shares of the stock in a transaction dated 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 approximately $1,437,929.36. The disclosure for this sale can be found here. Corporate insiders own 6.70% of the company’s stock.
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.
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.