Traders sold shares of General Dynamics Corporation (NYSE:GD) on strength during trading on Monday. $42.05 million flowed into the stock on the tick-up and $71.13 million flowed out of the stock on the tick-down, for a money net flow of $29.08 million out of the stock. Of all stocks tracked, General Dynamics Corporation had the 0th highest net out-flow for the day. General Dynamics Corporation traded up $0.38 for the day and closed at $204.93
A number of equities research analysts have recently issued reports on GD shares. Jefferies Group LLC restated a “buy” rating on shares of General Dynamics Corporation in a report on Friday, August 11th. ValuEngine upgraded General Dynamics Corporation from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. BidaskClub upgraded General Dynamics Corporation from a “hold” rating to a “buy” rating in a report on Tuesday, August 8th. Stifel Nicolaus boosted their price objective on General Dynamics Corporation from $173.00 to $200.00 and gave the stock a “hold” rating in a report on Thursday, April 27th. Finally, Zacks Investment Research cut 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 assigned a hold rating and eleven have given a buy rating to the stock. General Dynamics Corporation presently has an average rating of “Buy” and an average price target of $206.59.
The company’s 50 day moving average is $199.79 and its 200-day moving average is $194.45. The stock has a market capitalization of $59.58 billion, a PE ratio of 19.63 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 for the quarter, topping the Zacks’ consensus estimate of $2.43 by $0.02. The business had revenue of $7.68 billion during the quarter, compared to analyst estimates of $7.76 billion. General Dynamics Corporation had a net margin of 9.63% and a return on equity of 28.17%. The company’s revenue was down 1.3% on a year-over-year basis. During the same period in the prior year, the business posted $2.30 earnings per share. Equities research analysts forecast that General Dynamics Corporation will post $9.81 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, November 10th. Shareholders of record on Friday, October 6th will be given 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 payout ratio is currently 34.57%.
In other General Dynamics Corporation news, VP Christopher Marzilli sold 43,890 shares of the company’s stock in a transaction that occurred on 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 directly owns 107,857 shares in the company, valued at $21,719,164.09. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 6.70% of the company’s stock.
Several institutional investors have recently modified their holdings of GD. BlackRock Inc. raised its position 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 in the last quarter. Janus Henderson Group PLC raised its position in shares of General Dynamics Corporation by 44,941.4% in the second quarter. Janus Henderson Group PLC now owns 4,998,693 shares of the aerospace company’s stock worth $990,241,000 after buying an additional 4,987,595 shares in the last quarter. Vanguard Group Inc. raised its position 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 in the last quarter. Janus Capital Management LLC raised its position 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 in the last quarter. Finally, Capital Research Global Investors raised its position in General Dynamics Corporation by 4.5% in the second quarter. Capital Research Global Investors now owns 16,792,408 shares of the aerospace company’s stock valued at $3,326,576,000 after buying an additional 725,896 shares during the period. Hedge funds and other institutional investors own 86.77% 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.
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