Texas Yale Capital Corp. trimmed its stake in General Dynamics Co. (NYSE:GD) by 48.2% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,784 shares of the aerospace company’s stock after selling 9,102 shares during the period. Texas Yale Capital Corp.’s holdings in General Dynamics were worth $1,779,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors also recently added to or reduced their stakes in the business. Harvest Group Wealth Management LLC acquired a new stake in General Dynamics during the first quarter worth about $28,000. TCG Advisors LP acquired a new stake in General Dynamics during the first quarter worth about $38,000. Zions Bancorporation N.A. acquired a new stake in General Dynamics during the first quarter worth about $40,000. Princeton Global Asset Management LLC acquired a new stake in General Dynamics during the first quarter worth about $42,000. Finally, CX Institutional acquired a new stake in General Dynamics during the first quarter worth about $45,000. 86.79% of the stock is owned by institutional investors.
In other General Dynamics news, VP Gary L. Whited sold 14,029 shares of the business’s stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $188.38, for a total transaction of $2,642,783.02. Following the sale, the vice president now directly owns 37,542 shares in the company, valued at approximately $7,072,161.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 7.10% of the stock is currently owned by insiders.
General Dynamics (NYSE:GD) last posted its quarterly earnings data on Wednesday, July 24th. The aerospace company reported $2.77 earnings per share for the quarter, beating 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 firm had revenue of $9.56 billion for the quarter, compared to analyst estimates of $9.36 billion. During the same period last year, the firm posted $2.82 EPS. General Dynamics’s quarterly revenue was up 4.0% on a year-over-year basis. As a group, sell-side analysts predict that General Dynamics Co. will post 11.83 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, August 9th. Shareholders of record on Friday, July 5th will be given a dividend of $1.02 per share. The ex-dividend date of this dividend is Wednesday, July 3rd. This represents a $4.08 annualized dividend and a dividend yield of 2.29%. General Dynamics’s payout ratio is currently 35.73%.
Several research firms recently issued reports on GD. Robert W. Baird raised their price objective on shares of General Dynamics from $188.00 to $218.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 10th. UBS Group increased their target price on shares of General Dynamics from $175.00 to $190.00 and gave the stock a “neutral” rating in a research note on Thursday, April 25th. Cowen reaffirmed a “buy” rating and set a $202.00 target price on shares of General Dynamics in a research note on Wednesday, April 24th. ValuEngine raised shares of General Dynamics from a “sell” rating to a “hold” rating in a research note on Thursday, June 6th. Finally, Morgan Stanley increased their target price on shares of General Dynamics from $170.00 to $171.00 and gave the stock an “underweight” rating in a research note on Friday, June 14th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and seven have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $191.35.
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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