Park Place Capital Corp Sells 66 Shares of General Dynamics Co. (NYSE:GD)

Park Place Capital Corp lessened its stake in shares of General Dynamics Co. (NYSE:GD) by 19.3% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 276 shares of the aerospace company’s stock after selling 66 shares during the period. Park Place Capital Corp’s holdings in General Dynamics were worth $80,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Price T Rowe Associates Inc. MD increased its stake in General Dynamics by 2.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,782,612 shares of the aerospace company’s stock worth $1,351,041,000 after buying an additional 115,063 shares in the last quarter. Sanders Capital LLC lifted its holdings in General Dynamics by 3.7% in the 4th quarter. Sanders Capital LLC now owns 4,164,857 shares of the aerospace company’s stock worth $1,081,488,000 after purchasing an additional 147,800 shares in the last quarter. Norges Bank bought a new position in General Dynamics in the 4th quarter worth approximately $728,284,000. Northern Trust Corp grew its holdings in General Dynamics by 1.1% during the 4th quarter. Northern Trust Corp now owns 2,282,757 shares of the aerospace company’s stock valued at $592,764,000 after buying an additional 24,395 shares in the last quarter. Finally, Boston Partners raised its position in shares of General Dynamics by 1.4% during the first quarter. Boston Partners now owns 1,680,666 shares of the aerospace company’s stock valued at $474,927,000 after buying an additional 23,262 shares during the last quarter. Hedge funds and other institutional investors own 86.14% of the company’s stock.

Wall Street Analyst Weigh In

GD has been the subject of several research analyst reports. Wells Fargo & Company raised their price target on General Dynamics from $330.00 to $334.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. BTIG Research started coverage on shares of General Dynamics in a research report on Wednesday, June 26th. They issued a “buy” rating and a $345.00 price target on the stock. Sanford C. Bernstein increased their price objective on shares of General Dynamics from $290.00 to $302.00 and gave the company a “market perform” rating in a research report on Thursday, May 23rd. Barclays boosted their target price on shares of General Dynamics from $310.00 to $325.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. Finally, StockNews.com downgraded shares of General Dynamics from a “strong-buy” rating to a “buy” rating in a report on Friday, May 3rd. Seven research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $312.17.

General Dynamics Stock Down 0.4 %

Shares of NYSE:GD traded down $1.06 during trading on Friday, reaching $292.39. The stock had a trading volume of 990,893 shares, compared to its average volume of 1,197,340. The firm’s 50-day simple moving average is $292.16 and its 200 day simple moving average is $284.05. The company has a current ratio of 1.33, a quick ratio of 0.80 and a debt-to-equity ratio of 0.33. General Dynamics Co. has a one year low of $214.53 and a one year high of $302.75. The company has a market capitalization of $80.34 billion, a P/E ratio of 23.85, a PEG ratio of 1.68 and a beta of 0.60.

General Dynamics (NYSE:GD) last posted its quarterly earnings data on Wednesday, July 24th. The aerospace company reported $3.26 earnings per share for the quarter, missing analysts’ consensus estimates of $3.30 by ($0.04). General Dynamics had a return on equity of 16.74% and a net margin of 7.89%. The business had revenue of $11.98 billion during the quarter, compared to analyst estimates of $11.46 billion. During the same period in the previous year, the business earned $2.70 EPS. The firm’s revenue for the quarter was up 18.0% compared to the same quarter last year. As a group, research analysts expect that General Dynamics Co. will post 14.5 EPS for the current fiscal year.

General Dynamics Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 9th. Stockholders of record on Friday, July 5th will be issued a dividend of $1.42 per share. This represents a $5.68 dividend on an annualized basis and a dividend yield of 1.94%. The ex-dividend date of this dividend is Friday, July 5th. General Dynamics’s dividend payout ratio (DPR) is presently 46.33%.

Insider Activity at General Dynamics

In other news, CFO Kimberly A. Kuryea sold 13,344 shares of the stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $298.16, for a total value of $3,978,647.04. Following the transaction, the chief financial officer now directly owns 79,255 shares of the company’s stock, valued at $23,630,670.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Kimberly A. Kuryea sold 13,344 shares of the stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $298.16, for a total value of $3,978,647.04. Following the sale, the chief financial officer now owns 79,255 shares in the company, valued at $23,630,670.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Mark Lagrand Burns sold 6,016 shares of the firm’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $296.58, for a total transaction of $1,784,225.28. Following the transaction, the vice president now directly owns 76,221 shares of the company’s stock, valued at approximately $22,605,624.18. The disclosure for this sale can be found here. Insiders have sold a total of 52,499 shares of company stock valued at $15,554,941 in the last ninety days. Company insiders own 1.52% of the company’s stock.

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.