Taurus Asset Management LLC held its stake in General Dynamics Corporation (NYSE:GD) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,800 shares of the aerospace company’s stock at the close of the 2nd quarter. Taurus Asset Management LLC’s holdings in General Dynamics Corporation were worth $357,000 as of its most recent filing with the SEC.
Several other hedge funds have also made changes to their positions in GD. Ruggie Capital Group purchased a new stake in General Dynamics Corporation in the 1st quarter worth approximately $119,000. Zions Bancorporation lifted its stake in General Dynamics Corporation by 0.5% in the 1st quarter. Zions Bancorporation now owns 732 shares of the aerospace company’s stock worth $137,000 after purchasing an additional 4 shares in the last quarter. Global X Management Co. LLC lifted its stake in General Dynamics Corporation by 59.8% in the 1st quarter. Global X Management Co. LLC now owns 759 shares of the aerospace company’s stock worth $142,000 after purchasing an additional 284 shares in the last quarter. Central Bank & Trust Co. lifted its stake in General Dynamics Corporation by 33.9% in the 1st quarter. Central Bank & Trust Co. now owns 872 shares of the aerospace company’s stock worth $164,000 after purchasing an additional 221 shares in the last quarter. Finally, First Command Bank raised its position in shares of General Dynamics Corporation by 31.3% during the 2nd quarter. First Command Bank now owns 952 shares of the aerospace company’s stock valued at $189,000 after buying an additional 227 shares in the last quarter. Institutional investors own 86.19% of the company’s stock.
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Several analysts have recently weighed in on the stock. ValuEngine upgraded shares of General Dynamics Corporation from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Jefferies Group LLC restated a “buy” rating on shares of General Dynamics Corporation in a research report on Friday, August 11th. Citigroup Inc. reaffirmed a “neutral” rating and set a $210.00 target price (up previously from $207.00) on shares of General Dynamics Corporation in a report on Friday, August 11th. BidaskClub raised shares of General Dynamics Corporation from a “hold” rating to a “buy” rating in a report on Tuesday, August 8th. Finally, Morgan Stanley initiated coverage on shares of General Dynamics Corporation in a report on Tuesday, August 8th. They set an “underweight” rating and a $185.00 target price on the stock. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and eleven have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $206.59.
Shares of General Dynamics Corporation (NYSE GD) opened at 197.61 on Friday. General Dynamics Corporation has a 1-year low of $148.76 and a 1-year high of $205.90. The stock has a market cap of $59.24 billion, a P/E ratio of 19.52 and a beta of 0.71. The company’s 50-day moving average is $198.86 and its 200-day moving average is $196.20.
General Dynamics Corporation (NYSE:GD) last released its quarterly earnings results on Wednesday, July 26th. The aerospace company reported $2.45 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.43 by $0.02. The business had revenue of $7.68 billion during the quarter, compared to analysts’ expectations of $7.76 billion. General Dynamics Corporation had a return on equity of 28.17% and a net margin of 9.63%. The company’s quarterly revenue was down 1.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.30 earnings per share. Equities analysts expect that General Dynamics Corporation will post $9.80 EPS for the current fiscal year.
The company also recently announced 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 1.70%. The ex-dividend date is Thursday, October 5th. General Dynamics Corporation’s dividend payout ratio (DPR) is 34.57%.
About General Dynamics Corporation
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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