Archford Capital Strategies LLC raised its stake in shares of General Dynamics Co. (NYSE:GD) by 4.6% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,774 shares of the aerospace company’s stock after buying an additional 78 shares during the quarter. Archford Capital Strategies LLC’s holdings in General Dynamics were worth $324,000 at the end of the most recent reporting period.
A number of other large investors also recently made changes to their positions in GD. Bath Savings Trust Co boosted its holdings in General Dynamics by 12.2% in the second quarter. Bath Savings Trust Co now owns 1,655 shares of the aerospace company’s stock valued at $301,000 after acquiring an additional 180 shares during the last quarter. Woodstock Corp increased its position in shares of General Dynamics by 1.1% during the second quarter. Woodstock Corp now owns 6,625 shares of the aerospace company’s stock worth $1,205,000 after acquiring an additional 75 shares during the last quarter. Rockland Trust Co. increased its position in shares of General Dynamics by 6.9% during the second quarter. Rockland Trust Co. now owns 1,649 shares of the aerospace company’s stock worth $300,000 after acquiring an additional 107 shares during the last quarter. Foundations Investment Advisors LLC increased its position in shares of General Dynamics by 14.6% during the second quarter. Foundations Investment Advisors LLC now owns 1,664 shares of the aerospace company’s stock worth $304,000 after acquiring an additional 212 shares during the last quarter. Finally, WINTON GROUP Ltd increased its position in shares of General Dynamics by 1,282.9% during the second quarter. WINTON GROUP Ltd now owns 17,577 shares of the aerospace company’s stock worth $3,196,000 after acquiring an additional 16,306 shares during the last quarter. Hedge funds and other institutional investors own 86.27% of the company’s stock.
Shares of GD opened at $176.80 on Friday. General Dynamics Co. has a 52 week low of $143.87 and a 52 week high of $193.76. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.74 and a current ratio of 1.11. The firm has a market capitalization of $50.93 billion, a P/E ratio of 15.48, a P/E/G ratio of 1.71 and a beta of 1.20. The company has a 50-day simple moving average of $180.73 and a 200-day simple moving average of $179.15.
General Dynamics (NYSE:GD) last issued its quarterly earnings data on Wednesday, October 23rd. The aerospace company reported $3.14 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $3.06 by $0.08. General Dynamics had a net margin of 8.66% and a return on equity of 26.79%. The firm had revenue of $9.76 billion for the quarter, compared to analysts’ expectations of $9.75 billion. During the same period in the prior year, the firm earned $2.89 earnings per share. The company’s quarterly revenue was up 7.3% compared to the same quarter last year. As a group, equities analysts forecast that General Dynamics Co. will post 11.92 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, October 11th will be issued a $1.02 dividend. The ex-dividend date is Thursday, October 10th. This represents a $4.08 annualized dividend and a yield of 2.31%. General Dynamics’s dividend payout ratio (DPR) is presently 35.73%.
In other General Dynamics news, VP Mark Lagrand Burns bought 159 shares of General Dynamics stock in a transaction on Friday, August 9th. The shares were purchased at an average cost of $179.56 per share, with a total value of $28,550.04. Following the acquisition, the vice president now directly owns 39,643 shares of the company’s stock, valued at approximately $7,118,297.08. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Christopher Marzilli sold 32,930 shares of the business’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $187.16, for a total transaction of $6,163,178.80. Following the transaction, the executive vice president now owns 100,557 shares in the company, valued at approximately $18,820,248.12. The disclosure for this sale can be found here. Company insiders own 7.10% of the company’s stock.
GD has been the subject of a number of research reports. Barclays set a $215.00 price target on General Dynamics and gave the stock a “buy” rating in a research note on Tuesday, October 8th. Morgan Stanley decreased their price target on General Dynamics from $173.00 to $172.00 and set an “underweight” rating for the company in a research note on Thursday, October 10th. Credit Suisse Group decreased their price target on General Dynamics from $197.00 to $193.00 and set a “neutral” rating for the company in a research note on Thursday, October 24th. Zacks Investment Research upgraded General Dynamics from a “hold” rating to a “buy” rating and set a $203.00 price objective for the company in a research report on Monday, September 2nd. Finally, Cowen set a $202.00 target price on General Dynamics and gave the stock a “buy” rating in a report on Friday, August 30th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $192.66.
General Dynamics 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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