Nomura Holdings Inc. lifted its position in shares of General Dynamics Co. (NYSE:GD) by 454.9% during the second quarter, HoldingsChannel reports. The fund owned 69,491 shares of the aerospace company’s stock after acquiring an additional 56,967 shares during the quarter. Nomura Holdings Inc.’s holdings in General Dynamics were worth $12,660,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also recently modified their holdings of GD. United Bank lifted its position in General Dynamics by 3.9% during the 1st quarter. United Bank now owns 4,740 shares of the aerospace company’s stock worth $802,000 after buying an additional 180 shares in the last quarter. Great Lakes Advisors LLC lifted its position in General Dynamics by 9.7% during the 1st quarter. Great Lakes Advisors LLC now owns 9,795 shares of the aerospace company’s stock worth $1,658,000 after buying an additional 868 shares in the last quarter. National Asset Management Inc. lifted its position in General Dynamics by 2.1% during the 1st quarter. National Asset Management Inc. now owns 3,029 shares of the aerospace company’s stock worth $513,000 after buying an additional 63 shares in the last quarter. Cambridge Investment Research Advisors Inc. lifted its position in General Dynamics by 11.2% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 28,566 shares of the aerospace company’s stock worth $4,836,000 after buying an additional 2,887 shares in the last quarter. Finally, Great West Life Assurance Co. Can lifted its position in General Dynamics by 0.3% during the 1st quarter. Great West Life Assurance Co. Can now owns 154,415 shares of the aerospace company’s stock worth $26,085,000 after buying an additional 520 shares in the last quarter. Institutional investors and hedge funds own 86.25% of the company’s stock.
In other General Dynamics news, VP Mark Lagrand Burns purchased 159 shares of the company’s stock in a transaction on Friday, August 9th. The shares were purchased at an average cost of $179.56 per share, with a total value of $28,550.04. Following the completion of the purchase, the vice president now owns 39,643 shares in the company, valued at $7,118,297.08. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Gary L. Whited sold 14,029 shares of the business’s stock in a transaction that occurred on Tuesday, July 30th. The shares were sold at an average price of $188.38, for a total value of $2,642,783.02. Following the completion of the transaction, the vice president now directly owns 37,542 shares in the company, valued at $7,072,161.96. The disclosure for this sale can be found here. 7.10% of the stock is owned by insiders.
Shares of NYSE:GD traded up $0.35 during midday trading on Friday, hitting $188.48. 46,603 shares of the stock were exchanged, compared to its average volume of 963,248. The stock has a market capitalization of $55.26 billion, a price-to-earnings ratio of 16.51, a P/E/G ratio of 1.85 and a beta of 1.19. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.73 and a current ratio of 1.09. The business’s 50-day moving average price is $186.49 and its 200 day moving average price is $177.05. General Dynamics Co. has a 12 month low of $143.87 and a 12 month high of $207.72.
General Dynamics (NYSE:GD) last released its quarterly earnings results on Wednesday, July 24th. The aerospace company reported $2.77 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.68 by $0.09. The company had revenue of $9.56 billion for the quarter, compared to analysts’ expectations of $9.36 billion. General Dynamics had a return on equity of 26.81% and a net margin of 8.65%. The business’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same period in the previous year, the business posted $2.82 earnings per share. As a group, sell-side analysts expect that General Dynamics Co. will post 11.88 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 11th will be issued a dividend of $1.02 per share. This represents a $4.08 annualized dividend and a dividend yield of 2.16%. The ex-dividend date of this dividend is Thursday, October 10th. General Dynamics’s dividend payout ratio (DPR) is currently 35.73%.
A number of research firms have issued reports on GD. Cowen set a $202.00 target price on shares of General Dynamics and gave the company a “buy” rating in a research report on Friday, August 30th. Robert W. Baird increased their price target on shares of General Dynamics from $188.00 to $218.00 and gave the company an “outperform” rating in a research report on Wednesday, July 10th. Morgan Stanley increased their price target on shares of General Dynamics from $171.00 to $173.00 and gave the company an “underweight” rating in a research report on Wednesday, August 14th. ValuEngine upgraded shares of General Dynamics from a “sell” rating to a “hold” rating in a research report on Thursday, June 6th. Finally, Zacks Investment Research raised General Dynamics from a “hold” rating to a “buy” rating and set a $203.00 price objective for the company in a report on Monday, September 2nd. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and seven have issued a buy rating to the company’s stock. General Dynamics currently has an average rating of “Hold” and a consensus target price of $193.35.
General Dynamics Company 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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