Newport Trust Company LLC decreased its holdings in shares of General Dynamics Co. (NYSE:GD – Free Report) by 1.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 15,462,857 shares of the aerospace company’s stock after selling 163,165 shares during the period. General Dynamics comprises 11.3% of Newport Trust Company LLC’s portfolio, making the stock its 3rd biggest holding. Newport Trust Company LLC owned about 5.64% of General Dynamics worth $4,486,393,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Richardson Financial Services Inc. bought a new position in shares of General Dynamics in the fourth quarter valued at approximately $25,000. Redmont Wealth Advisors LLC bought a new position in shares of General Dynamics in the first quarter valued at approximately $25,000. Financial Synergies Wealth Advisors Inc. bought a new position in shares of General Dynamics in the first quarter valued at approximately $29,000. New Covenant Trust Company N.A. bought a new position in shares of General Dynamics in the first quarter valued at approximately $29,000. Finally, American Capital Advisory LLC bought a new position in shares of General Dynamics in the second quarter valued at approximately $29,000. Institutional investors own 86.14% of the company’s stock.
Insider Buying and Selling
In related news, Director Peter A. Wall sold 1,320 shares of the firm’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $308.05, for a total transaction of $406,626.00. Following the sale, the director now owns 3,592 shares of the company’s stock, valued at approximately $1,106,515.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.52% of the stock is currently owned by company insiders.
Analyst Ratings Changes
Read Our Latest Stock Analysis on General Dynamics
General Dynamics Stock Performance
Shares of General Dynamics stock opened at $304.77 on Friday. The company has a market capitalization of $83.62 billion, a PE ratio of 24.86, a PEG ratio of 1.64 and a beta of 0.61. General Dynamics Co. has a 12 month low of $214.53 and a 12 month high of $309.97. The company has a current ratio of 1.33, a quick ratio of 0.80 and a debt-to-equity ratio of 0.33. The stock’s fifty day simple moving average is $294.33 and its 200 day simple moving average is $290.74.
General Dynamics (NYSE:GD – Get Free Report) last issued its quarterly earnings data on Wednesday, July 24th. The aerospace company reported $3.26 EPS for the quarter, missing the consensus estimate of $3.30 by ($0.04). The business had revenue of $11.98 billion for the quarter, compared to analyst estimates of $11.46 billion. General Dynamics had a return on equity of 16.74% and a net margin of 7.89%. The business’s quarterly revenue was up 18.0% compared to the same quarter last year. During the same period in the previous year, the business posted $2.70 EPS. On average, research analysts predict that General Dynamics Co. will post 14.52 EPS for the current year.
General Dynamics Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, October 11th will be paid a dividend of $1.42 per share. This represents a $5.68 annualized dividend and a yield of 1.86%. The ex-dividend date is Friday, October 11th. General Dynamics’s payout ratio is presently 46.33%.
About General Dynamics
General Dynamics Corporation operates as an aerospace and defense company worldwide. It operates through four segments: Aerospace, Marine Systems, Combat Systems, and Technologies. The Aerospace segment produces and sells business jets; and offers aircraft maintenance and repair, management, aircraft-on-ground support and completion, charter, staffing, and fixed-base operator services.
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