Thoroughbred Financial Services LLC lessened its holdings in shares of General Dynamics Co. (NYSE:GD) by 1.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,978 shares of the aerospace company’s stock after selling 59 shares during the quarter. Thoroughbred Financial Services LLC’s holdings in General Dynamics were worth $843,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors have also modified their holdings of the company. Financial Gravity Companies Inc. bought a new stake in shares of General Dynamics during the 4th quarter valued at $25,000. We Are One Seven LLC bought a new stake in shares of General Dynamics during the 4th quarter valued at $27,000. Harvest Group Wealth Management LLC bought a new stake in shares of General Dynamics during the 1st quarter valued at $28,000. Aspire Private Capital LLC bought a new stake in shares of General Dynamics during the 4th quarter valued at $29,000. Finally, CX Institutional bought a new stake in shares of General Dynamics during the 1st quarter valued at $45,000. Institutional investors and hedge funds own 86.41% of the company’s stock.
In other news, EVP John Patrick Casey sold 45,470 shares of the business’s stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $172.46, for a total value of $7,841,756.20. Following the sale, the executive vice president now directly owns 148,133 shares in the company, valued at approximately $25,547,017.18. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Gary L. Whited sold 14,640 shares of the business’s stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $165.38, for a total transaction of $2,421,163.20. Following the completion of the sale, the vice president now owns 30,462 shares in the company, valued at $5,037,805.56. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 64,690 shares of company stock worth $11,052,603. Insiders own 7.10% of the company’s stock.
General Dynamics (NYSE:GD) last posted its earnings results on Wednesday, April 24th. The aerospace company reported $2.56 earnings per share for the quarter, topping analysts’ consensus estimates of $2.38 by $0.18. General Dynamics had a net margin of 8.68% and a return on equity of 27.62%. The firm had revenue of $9.26 billion for the quarter, compared to the consensus estimate of $8.90 billion. During the same period in the previous year, the firm posted $2.65 EPS. The business’s quarterly revenue was up 22.9% on a year-over-year basis. As a group, analysts forecast that General Dynamics Co. will post 11.74 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, May 10th. Stockholders of record on Friday, April 12th were issued a $1.02 dividend. The ex-dividend date was Thursday, April 11th. This is an increase from General Dynamics’s previous quarterly dividend of $0.93. This represents a $4.08 dividend on an annualized basis and a dividend yield of 2.40%. General Dynamics’s payout ratio is 35.73%.
GD has been the topic of several recent analyst reports. Zacks Investment Research downgraded shares of General Dynamics from a “hold” rating to a “sell” rating in a research report on Friday, March 1st. Sanford C. Bernstein decreased their price objective on shares of General Dynamics from $186.00 to $178.00 and set a “market perform” rating on the stock in a research report on Monday, February 4th. Credit Suisse Group downgraded shares of General Dynamics from an “outperform” rating to a “neutral” rating and decreased their price objective for the company from $190.00 to $184.00 in a research report on Friday, February 15th. UBS Group raised their price objective on shares of General Dynamics from $175.00 to $190.00 and gave the company a “neutral” rating in a research report on Thursday, April 25th. Finally, Argus downgraded shares of General Dynamics from a “buy” rating to a “hold” rating and set a $170.91 price objective on the stock. in a research report on Thursday, January 31st. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and seven have given a buy rating to the company. General Dynamics has a consensus rating of “Hold” and a consensus price target of $197.82.
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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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