Cambridge Investment Research Advisors Inc. Reduces Stake in General Dynamics Corporation (GD)

Cambridge Investment Research Advisors Inc. decreased its stake in shares of General Dynamics Corporation (NYSE:GD) by 25.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 26,362 shares of the aerospace company’s stock after selling 8,975 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in General Dynamics Corporation were worth $4,935,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of GD. Quadrant Capital Group LLC raised its stake 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 worth $108,000 after buying an additional 4 shares during the last quarter. Ruggie Capital Group purchased a new stake in General Dynamics Corporation during the first quarter worth approximately $119,000. Pinnacle Bank purchased a new stake in General Dynamics Corporation during the first quarter worth approximately $126,000. Global X Management Co. LLC raised its position 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 during the period. Finally, Central Bank & Trust Co. raised its position 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 during the period. 86.77% of the stock is owned by institutional investors.

General Dynamics Corporation (NYSE:GD) traded up 0.37% during mid-day trading on Friday, hitting $198.73. The stock had a trading volume of 1,581,719 shares. The firm’s 50-day moving average price is $199.79 and its 200 day moving average price is $194.45. The company has a market cap of $59.58 billion, a PE ratio of 19.63 and a beta of 0.71. General Dynamics Corporation has a one year low of $148.76 and a one year high of $205.90.

General Dynamics Corporation (NYSE:GD) last released its quarterly earnings results 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. General Dynamics Corporation had a return on equity of 28.17% and a net margin of 9.63%. The company had revenue of $7.68 billion during the quarter, compared to analysts’ expectations of $7.76 billion. During the same period in the previous year, the firm posted $2.30 earnings per share. The business’s revenue for the quarter was down 1.3% compared to the same quarter last year. On average, equities research analysts anticipate that General Dynamics Corporation will post $9.81 EPS 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 issued a $0.84 dividend. The ex-dividend date of this dividend is Thursday, October 5th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 1.69%. General Dynamics Corporation’s dividend payout ratio (DPR) is 34.57%.

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Several research analysts have commented on the stock. Jefferies Group LLC restated a “buy” rating on shares of General Dynamics Corporation in a report on Friday, August 11th. Citigroup Inc. reaffirmed a “neutral” rating and issued a $210.00 target price (up from $207.00) on shares of General Dynamics Corporation in a research report on Friday, August 11th. BidaskClub raised shares of General Dynamics Corporation from a “hold” rating to a “buy” rating in a research report on Tuesday, August 8th. Morgan Stanley began coverage on shares of General Dynamics Corporation in a research report on Tuesday, August 8th. They set an “underweight” rating and a $185.00 price objective on the stock. Finally, Zacks Investment Research downgraded shares of General Dynamics Corporation from a “buy” rating to a “hold” rating in a report on Friday, July 28th. Two analysts have rated the stock with a sell rating, four have given a hold rating and eleven have issued a buy rating to the stock. General Dynamics Corporation currently has an average rating of “Buy” and a consensus target price of $206.59.

In other news, VP Christopher Marzilli sold 43,890 shares of the business’s stock in a transaction on Tuesday, May 30th. The stock was 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 directly owns 107,857 shares of the company’s stock, valued at $21,719,164.09. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 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.

Institutional Ownership by Quarter for General Dynamics Corporation (NYSE:GD)

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