General Dynamics Corporation (GD) Holdings Reduced by Public Sector Pension investment Board
Public Sector Pension investment Board trimmed its holdings in shares of General Dynamics Corporation (NYSE:GD) by 64.3% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 32,135 shares of the aerospace company’s stock after selling 57,800 shares during the period. Public Sector Pension investment Board’s holdings in General Dynamics Corporation were worth $6,366,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also modified their holdings of the business. Vantage Investment Advisors LLC grew its stake in shares of General Dynamics Corporation by 9.3% in the second quarter. Vantage Investment Advisors LLC now owns 585 shares of the aerospace company’s stock worth $116,000 after acquiring an additional 50 shares during the period. Ruggie Capital Group purchased a new position in shares of General Dynamics Corporation during the first quarter valued at approximately $119,000. Captrust Financial Advisors purchased a new position in shares of General Dynamics Corporation during the second quarter valued at approximately $129,000. Zions Bancorporation raised its holdings in shares of General Dynamics Corporation by 0.5% during the first quarter. Zions Bancorporation now owns 732 shares of the aerospace company’s stock valued at $137,000 after purchasing an additional 4 shares during the last quarter. Finally, Global X Management Co. LLC raised its holdings in shares of General Dynamics Corporation by 59.8% during the first quarter. Global X Management Co. LLC now owns 759 shares of the aerospace company’s stock valued at $142,000 after purchasing an additional 284 shares during the last quarter. Institutional investors and hedge funds own 86.18% of the company’s stock.
Shares of General Dynamics Corporation (GD) opened at 210.53 on Wednesday. General Dynamics Corporation has a 1-year low of $148.76 and a 1-year high of $210.94. The firm’s 50-day moving average is $201.33 and its 200-day moving average is $197.60. The company has a market cap of $63.11 billion, a PE ratio of 20.80 and a beta of 0.72.
General Dynamics Corporation (NYSE:GD) last issued its 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. The firm had revenue of $7.68 billion during 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 firm’s revenue was down 1.3% compared to the same quarter last year. During the same quarter last year, the company posted $2.30 earnings per share. On average, equities analysts forecast that General Dynamics Corporation will post $9.80 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, November 10th. Shareholders of record on Friday, October 6th will be issued a $0.84 dividend. This represents a $3.36 annualized dividend and a yield of 1.60%. The ex-dividend date of this dividend is Thursday, October 5th. General Dynamics Corporation’s payout ratio is 34.57%.
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Several brokerages recently issued reports on GD. BidaskClub cut shares of General Dynamics Corporation from a “strong-buy” rating to a “buy” rating in a report on Sunday, July 16th. Zacks Investment Research upgraded shares of General Dynamics Corporation from a “hold” rating to a “buy” rating and set a $224.00 target price for the company in a research note on Tuesday, June 27th. Morgan Stanley assumed coverage on General Dynamics Corporation in a report on Tuesday, August 8th. They set an “underweight” rating and a $185.00 price target on the stock. ValuEngine cut General Dynamics Corporation from a “buy” rating to a “hold” rating in a report on Tuesday. Finally, UBS AG restated a “buy” rating and issued a $225.00 price target (up from $215.00) on shares of General Dynamics Corporation in a research note on Monday, June 12th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and eleven have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $209.12.
General Dynamics Corporation 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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