Park Place Capital Corp Reduces Holdings in General Dynamics Co. (NYSE:GD)

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

A number of other large investors have also added to or reduced their stakes in the company. Transcend Capital Advisors LLC raised its position in shares of General Dynamics by 4.8% in the 2nd quarter. Transcend Capital Advisors LLC now owns 9,993 shares of the aerospace company’s stock valued at $2,899,000 after purchasing an additional 458 shares in the last quarter. Bank of New Hampshire raised its holdings in General Dynamics by 4.6% in the second quarter. Bank of New Hampshire now owns 1,802 shares of the aerospace company’s stock valued at $523,000 after acquiring an additional 80 shares in the last quarter. Bright Futures Wealth Management LLC. acquired a new stake in General Dynamics in the first quarter valued at $1,332,000. OMC Financial Services LTD acquired a new position in General Dynamics during the 1st quarter worth $670,000. Finally, EverSource Wealth Advisors LLC increased its position in shares of General Dynamics by 83.4% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,311 shares of the aerospace company’s stock worth $376,000 after purchasing an additional 596 shares during the last quarter. 86.14% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Susquehanna lifted their price target on General Dynamics from $301.00 to $333.00 and gave the stock a “positive” rating in a research note on Friday, April 12th. The Goldman Sachs Group boosted their price target on General Dynamics from $253.00 to $284.00 and gave the company a “neutral” rating in a report on Tuesday, April 16th. Robert W. Baird restated an “outperform” rating and set a $345.00 price objective on shares of General Dynamics in a research note on Tuesday, July 2nd. StockNews.com lowered shares of General Dynamics from a “strong-buy” rating to a “buy” rating in a research note on Friday, May 3rd. Finally, Wells Fargo & Company increased their target price on shares of General Dynamics from $330.00 to $334.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. Seven analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $312.17.

Insiders Place Their Bets

In other General Dynamics news, VP William A. Moss sold 21,050 shares of the company’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $294.85, for a total value of $6,206,592.50. Following the completion of the sale, the vice president now directly owns 16,624 shares in the company, valued at $4,901,586.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO Kimberly A. Kuryea sold 13,344 shares of General Dynamics stock in a transaction that occurred 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 transaction, the chief financial officer now owns 79,255 shares of the company’s stock, valued at approximately $23,630,670.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP William A. Moss sold 21,050 shares of the stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $294.85, for a total transaction of $6,206,592.50. Following the sale, the vice president now directly owns 16,624 shares of the company’s stock, valued at $4,901,586.40. The disclosure for this sale can be found here. In the last three months, insiders have sold 52,499 shares of company stock worth $15,554,941. 1.52% of the stock is owned by corporate insiders.

General Dynamics Stock Performance

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

General Dynamics (NYSE:GD) last announced its quarterly earnings results on Wednesday, July 24th. The aerospace company reported $3.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 company’s revenue was up 18.0% compared to the same quarter last year. During the same quarter last year, the firm posted $2.70 EPS. Equities research analysts anticipate that General Dynamics Co. will post 14.5 EPS for the current year.

General Dynamics Announces Dividend

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 paid a dividend of $1.42 per share. The ex-dividend date is Friday, July 5th. This represents a $5.68 annualized dividend and a yield of 1.94%. General Dynamics’s payout ratio is 46.33%.

General Dynamics Profile

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.