HM Payson & Co. lowered its stake in General Dynamics Corporation (NYSE:GD) by 1.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 217,560 shares of the aerospace company’s stock after selling 4,156 shares during the period. General Dynamics Corporation comprises about 1.9% of HM Payson & Co.’s portfolio, making the stock its 13th largest position. HM Payson & Co. owned approximately 0.07% of General Dynamics Corporation worth $40,727,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its position in General Dynamics Corporation by 4.7% in the first quarter. Vanguard Group Inc. now owns 19,799,817 shares of the aerospace company’s stock worth $3,706,525,000 after buying an additional 894,177 shares in the last quarter. BlackRock Inc. increased its position in General Dynamics Corporation by 2,645.5% in the first quarter. BlackRock Inc. now owns 15,509,344 shares of the aerospace company’s stock worth $2,903,351,000 after buying an additional 14,944,453 shares in the last quarter. Janus Capital Management LLC increased its position in General Dynamics Corporation by 22.1% in the first quarter. Janus Capital Management LLC now owns 4,148,390 shares of the aerospace company’s stock worth $776,563,000 after buying an additional 749,793 shares in the last quarter. Geode Capital Management LLC increased its position in General Dynamics Corporation by 5.1% in the first quarter. Geode Capital Management LLC now owns 2,920,756 shares of the aerospace company’s stock worth $546,040,000 after buying an additional 141,305 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its position in General Dynamics Corporation by 8.3% in the first quarter. Bank of New York Mellon Corp now owns 2,801,405 shares of the aerospace company’s stock worth $524,423,000 after buying an additional 214,825 shares in the last quarter. Institutional investors and hedge funds own 86.77% of the company’s stock.
Shares of General Dynamics Corporation (NYSE GD) opened at 198.73 on Friday. General Dynamics Corporation has a 1-year low of $148.76 and a 1-year high of $205.90. The stock’s 50 day moving average is $199.79 and its 200-day moving average is $194.45. The stock has a market cap of $59.58 billion, a PE ratio of 19.63 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 (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.43 by $0.02. The business had revenue of $7.68 billion during the quarter, compared to the consensus estimate 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 last year, the firm posted $2.30 EPS. On average, analysts predict that General Dynamics Corporation will post $9.81 EPS for the current fiscal 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 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 is presently 34.57%.
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A number of research analysts recently issued reports on the stock. BidaskClub upgraded shares of General Dynamics Corporation from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, July 25th. Royal Bank Of Canada restated a “buy” rating and set a $220.00 target price on shares of General Dynamics Corporation in a research report on Friday, June 2nd. ValuEngine raised shares of General Dynamics Corporation from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. Jefferies Group LLC reaffirmed a “buy” rating and issued a $220.00 price objective on shares of General Dynamics Corporation in a report on Friday, July 7th. Finally, Cowen and Company reaffirmed a “buy” rating and issued a $210.00 price objective on shares of General Dynamics Corporation in a report on Monday, July 17th. 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 stock. The company 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 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 in the company, valued at approximately $21,719,164.09. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company 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.
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