General Dynamics Co. (NYSE:GD) Shares Acquired by GAMMA Investing LLC

GAMMA Investing LLC boosted its position in shares of General Dynamics Co. (NYSE:GD) by 30.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,271 shares of the aerospace company’s stock after purchasing an additional 772 shares during the period. GAMMA Investing LLC’s holdings in General Dynamics were worth $949,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Ballentine Partners LLC lifted its position in shares of General Dynamics by 5.0% in the 4th quarter. Ballentine Partners LLC now owns 2,845 shares of the aerospace company’s stock worth $739,000 after buying an additional 135 shares during the last quarter. Private Trust Co. NA lifted its position in shares of General Dynamics by 7.6% in the 4th quarter. Private Trust Co. NA now owns 4,528 shares of the aerospace company’s stock worth $1,176,000 after buying an additional 318 shares during the last quarter. International Assets Investment Management LLC lifted its position in shares of General Dynamics by 10,763.2% in the 4th quarter. International Assets Investment Management LLC now owns 923,593 shares of the aerospace company’s stock worth $239,829,000 after buying an additional 915,091 shares during the last quarter. Nilsine Partners LLC lifted its position in shares of General Dynamics by 3.9% in the 4th quarter. Nilsine Partners LLC now owns 3,007 shares of the aerospace company’s stock worth $781,000 after buying an additional 114 shares during the last quarter. Finally, Allworth Financial LP lifted its position in shares of General Dynamics by 1,239.6% in the 4th quarter. Allworth Financial LP now owns 24,703 shares of the aerospace company’s stock worth $6,415,000 after buying an additional 22,859 shares during the last quarter. 86.14% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. StockNews.com downgraded shares of General Dynamics from a “strong-buy” rating to a “buy” rating in a research report on Friday, May 3rd. Susquehanna lifted their price objective on shares of General Dynamics from $301.00 to $333.00 and gave the stock a “positive” rating in a research note on Friday, April 12th. Barclays lifted their price objective on shares of General Dynamics from $310.00 to $325.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $320.00 price objective on shares of General Dynamics in a research note on Thursday, July 25th. Finally, Sanford C. Bernstein lifted their price objective on shares of General Dynamics from $290.00 to $302.00 and gave the stock a “market perform” rating in a research note on Thursday, May 23rd. 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.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $312.17.

General Dynamics Stock Performance

General Dynamics stock traded down $7.01 on Monday, hitting $285.38. The company’s stock had a trading volume of 573,773 shares, compared to its average volume of 1,071,948. General Dynamics Co. has a one year low of $214.53 and a one year high of $302.75. The company has a quick ratio of 0.80, a current ratio of 1.33 and a debt-to-equity ratio of 0.33. The company has a fifty day moving average price of $292.16 and a 200-day moving average price of $284.05. The firm has a market cap of $78.42 billion, a P/E ratio of 23.85, a price-to-earnings-growth ratio of 1.68 and a beta of 0.60.

General Dynamics (NYSE:GD) last issued its quarterly earnings results on Wednesday, July 24th. The aerospace company reported $3.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.30 by ($0.04). The company 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 firm’s quarterly revenue was up 18.0% on a year-over-year basis. During the same quarter last year, the company earned $2.70 EPS. On average, equities analysts anticipate that General Dynamics Co. will post 14.5 earnings per share for the current year.

General Dynamics Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 9th. Shareholders of record on Friday, July 5th will be issued a dividend of $1.42 per share. The ex-dividend date of this dividend is Friday, July 5th. This represents a $5.68 annualized dividend and a yield of 1.99%. General Dynamics’s dividend payout ratio is currently 46.33%.

Insiders Place Their Bets

In other news, VP Mark Lagrand Burns sold 6,016 shares of the company’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $296.58, for a total value of $1,784,225.28. Following the completion of the sale, the vice president now directly owns 76,221 shares of the company’s stock, valued at approximately $22,605,624.18. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, VP Mark Lagrand Burns sold 6,016 shares of the stock in a transaction that occurred 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 completion of the sale, the vice president now directly owns 76,221 shares of the company’s stock, valued at approximately $22,605,624.18. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Kimberly A. Kuryea sold 13,344 shares of the company’s stock in a transaction that occurred on 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 approximately $23,630,670.80. The disclosure for this sale can be found here. In the last three months, insiders sold 52,499 shares of company stock valued at $15,554,941. 1.52% of the stock is currently owned by insiders.

General Dynamics Company 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.