MainStreet Investment Advisors LLC Purchases 216 Shares of General Dynamics Co. (NYSE:GD)
MainStreet Investment Advisors LLC raised its position in shares of General Dynamics Co. (NYSE:GD) by 0.9% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 25,272 shares of the aerospace company’s stock after acquiring an additional 216 shares during the quarter. MainStreet Investment Advisors LLC’s holdings in General Dynamics were worth $4,595,000 at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of the business. Longview Asset Management LLC boosted its position in General Dynamics by 0.7% during the 1st quarter. Longview Asset Management LLC now owns 32,898,410 shares of the aerospace company’s stock valued at $5,569,043,000 after acquiring an additional 215,179 shares in the last quarter. Geode Capital Management LLC boosted its position in General Dynamics by 5.8% during the 4th quarter. Geode Capital Management LLC now owns 3,511,536 shares of the aerospace company’s stock valued at $551,080,000 after acquiring an additional 193,294 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec boosted its position in General Dynamics by 8.1% during the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 3,365,297 shares of the aerospace company’s stock valued at $569,677,000 after acquiring an additional 252,900 shares in the last quarter. Ellis Investment Partners LLC boosted its position in General Dynamics by 16,833.7% during the 1st quarter. Ellis Investment Partners LLC now owns 960,820 shares of the aerospace company’s stock valued at $960,000 after acquiring an additional 955,146 shares in the last quarter. Finally, Thoroughbred Financial Services LLC boosted its position in General Dynamics by 18,507.6% during the 2nd quarter. Thoroughbred Financial Services LLC now owns 926,285 shares of the aerospace company’s stock valued at $92,628,000 after acquiring an additional 921,307 shares in the last quarter. 86.73% of the stock is currently owned by institutional investors and hedge funds.
Several research firms have recently issued reports on GD. Goldman Sachs Group upgraded shares of General Dynamics from a “neutral” rating to a “buy” rating and set a $204.00 target price for the company in a report on Sunday, May 19th. Morgan Stanley set a $18.00 target price on shares of PG&E and gave the company a “hold” rating in a report on Friday, June 14th. UBS Group reiterated a “buy” rating and set a $124.00 target price on shares of Cie Gnrl des Etblsmnts Michelin SCA in a report on Thursday, April 25th. Cowen reiterated an “outperform” rating and set a $230.00 target price (up from $200.00) on shares of Norfolk Southern in a report on Wednesday, April 24th. Finally, ValuEngine lowered shares of Universal Electronics from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 6th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and eight have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $196.00.
General Dynamics (NYSE:GD) last announced its quarterly earnings data on Wednesday, July 24th. The aerospace company reported $2.77 earnings per share for the quarter, topping analysts’ consensus estimates of $2.68 by $0.09. General Dynamics had a net margin of 8.65% and a return on equity of 26.81%. The company had revenue of $9.56 billion during the quarter, compared to analyst estimates of $9.36 billion. During the same period in the previous year, the business earned $2.82 EPS. The firm’s revenue for the quarter was up 4.0% on a year-over-year basis. On average, research analysts expect that General Dynamics Co. will post 11.83 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 9th. Investors of record on Friday, July 5th will be issued a $1.02 dividend. The ex-dividend date is Wednesday, July 3rd. This represents a $4.08 dividend on an annualized basis and a yield of 2.15%. General Dynamics’s payout ratio is currently 35.73%.
General Dynamics Profile
General Dynamics Corporation operates as an aerospace and defense company worldwide. It operates in five segments: Aerospace, Combat Systems, Information Technology, Mission Systems, and Marine Systems. The Aerospace segment designs, manufactures, and supports business-jet aircraft; and offers business-aviation services, including maintenance, fixed-base operation, government fleet, aircraft management, charter, and staffing services, as well as integrated aviation solutions.
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