General Dynamics Corporation (GD) Stake Decreased by Macnealy Hoover Investment Management Inc.

Macnealy Hoover Investment Management Inc. reduced its stake in shares of General Dynamics Corporation (NYSE:GD) by 0.3% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 7,982 shares of the aerospace company’s stock after selling 25 shares during the period. General Dynamics Corporation accounts for 1.2% of Macnealy Hoover Investment Management Inc.’s portfolio, making the stock its 29th largest position. Macnealy Hoover Investment Management Inc.’s holdings in General Dynamics Corporation were worth $1,582,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of 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 during the period. BlackRock Inc. boosted its stake in shares of 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 during the period. Janus Capital Management LLC boosted its stake in shares of 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 during the period. Geode Capital Management LLC boosted its stake in shares of 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 during the period. Finally, Bank of New York Mellon Corp boosted its stake in shares of 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 during the period. 86.77% of the stock is owned by institutional investors.

Shares of 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. General Dynamics Corporation has a 1-year low of $148.76 and a 1-year high of $205.90. The company has a market cap of $59.58 billion, a P/E ratio of 19.63 and a beta of 0.71.

General Dynamics Corporation (NYSE:GD) last released its quarterly earnings data on Wednesday, July 26th. The aerospace company reported $2.45 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.43 by $0.02. The company had revenue of $7.68 billion for the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.30 EPS. Analysts predict that General Dynamics Corporation will post $9.81 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 10th. Stockholders of record on Friday, October 6th will be given a dividend of $0.84 per share. 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 (DPR) is presently 34.57%.

TRADEMARK VIOLATION NOTICE: This report was first reported by BNB Daily and is owned by of BNB Daily. If you are reading this report on another site, it was copied illegally and reposted in violation of United States & international trademark & copyright laws. The correct version of this report can be viewed at https://www.baseball-news-blog.com/2017/08/19/macnealy-hoover-investment-management-inc-reduces-stake-in-general-dynamics-corporation-gd-updated-updated-updated.html.

A number of brokerages recently commented 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 research note on Tuesday, June 27th. BidaskClub cut General Dynamics Corporation from a “strong-buy” rating to a “buy” rating in a research note on Sunday, July 16th. Royal Bank Of Canada lifted their price objective on General Dynamics Corporation from $211.00 to $220.00 and gave the stock an “outperform” rating in a research note on Thursday, April 27th. Morgan Stanley initiated coverage on General Dynamics Corporation in a research note on Tuesday, August 8th. They set an “underweight” rating and a $185.00 price objective for the company. Finally, Jefferies Group LLC reiterated a “buy” rating and set a $220.00 target price (up from $200.00) on shares of General Dynamics Corporation in a report on Friday, April 28th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and eleven have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average 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 transaction of $8,838,129.30. Following the transaction, the vice president now owns 107,857 shares of the company’s stock, valued at approximately $21,719,164.09. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 6.70% of the stock is owned by corporate insiders.

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)

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 MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply