Sompo Japan Nipponkoa Asset Management CO. LTD. raised its position in shares of General Dynamics Co. (NYSE:GD) by 77.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 26,195 shares of the aerospace company’s stock after purchasing an additional 11,470 shares during the period. Sompo Japan Nipponkoa Asset Management CO. LTD.’s holdings in General Dynamics were worth $4,763,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in GD. Ellis Investment Partners LLC grew its holdings in General Dynamics by 16,833.7% during the first quarter. Ellis Investment Partners LLC now owns 960,820 shares of the aerospace company’s stock valued at $960,000 after purchasing an additional 955,146 shares during the period. Thoroughbred Financial Services LLC boosted its holdings in shares of General Dynamics by 18,507.6% in the second quarter. Thoroughbred Financial Services LLC now owns 926,285 shares of the aerospace company’s stock worth $92,628,000 after acquiring an additional 921,307 shares during the period. Caisse DE Depot ET Placement DU Quebec boosted its holdings in shares of General Dynamics by 8.1% in the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 3,365,297 shares of the aerospace company’s stock worth $569,677,000 after acquiring an additional 252,900 shares during the period. Longview Asset Management LLC boosted its holdings in shares of General Dynamics by 0.7% in the first quarter. Longview Asset Management LLC now owns 32,898,410 shares of the aerospace company’s stock worth $5,569,043,000 after acquiring an additional 215,179 shares during the period. Finally, Conning Inc. boosted its holdings in shares of General Dynamics by 2,626.5% in the second quarter. Conning Inc. now owns 210,949 shares of the aerospace company’s stock worth $38,355,000 after acquiring an additional 203,212 shares during the period. 86.84% of the stock is owned by institutional investors and hedge funds.
In other General Dynamics news, VP Mark Lagrand Burns acquired 159 shares of the stock in a transaction that occurred on Friday, August 9th. The shares were bought at an average price of $179.56 per share, for a total transaction of $28,550.04. Following the completion of the transaction, the vice president now owns 39,643 shares of the company’s stock, valued at approximately $7,118,297.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director William A. Osborn sold 1,500 shares of the stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $182.56, for a total value of $273,840.00. Following the completion of the sale, the director now owns 37,585 shares in the company, valued at approximately $6,861,517.60. The disclosure for this sale can be found here. Company insiders own 7.10% of the company’s stock.
Shares of GD stock traded up $2.13 on Friday, reaching $184.35. The company’s stock had a trading volume of 1,440,200 shares, compared to its average volume of 1,051,492. The company has a quick ratio of 0.73, a current ratio of 1.09 and a debt-to-equity ratio of 0.70. General Dynamics Co. has a 12-month low of $143.87 and a 12-month high of $207.72. The company has a market capitalization of $53.25 billion, a P/E ratio of 16.14, a PEG ratio of 1.75 and a beta of 1.21. The stock’s 50 day simple moving average is $183.82 and its 200-day simple moving average is $174.41.
General Dynamics (NYSE:GD) last issued its quarterly earnings data on Wednesday, July 24th. The aerospace company reported $2.77 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.68 by $0.09. General Dynamics had a return on equity of 26.81% and a net margin of 8.65%. The company had revenue of $9.56 billion for the quarter, compared to the consensus estimate of $9.36 billion. During the same quarter last year, the business posted $2.82 earnings per share. The firm’s revenue was up 4.0% compared to the same quarter last year. Research analysts expect that General Dynamics Co. will post 11.86 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, October 11th will be given a $1.02 dividend. The ex-dividend date of this dividend is Thursday, October 10th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 2.21%. General Dynamics’s dividend payout ratio (DPR) is presently 35.73%.
A number of equities analysts have recently commented on the company. ValuEngine raised General Dynamics from a “sell” rating to a “hold” rating in a report on Thursday, June 6th. Zacks Investment Research raised General Dynamics from a “hold” rating to a “buy” rating and set a $171.00 price target for the company in a report on Monday, June 3rd. Robert W. Baird raised their price target on General Dynamics from $188.00 to $218.00 and gave the stock an “outperform” rating in a report on Wednesday, July 10th. Morgan Stanley raised their price target on General Dynamics from $171.00 to $173.00 and gave the stock an “underweight” rating in a report on Wednesday. Finally, JPMorgan Chase & Co. raised General Dynamics from an “underweight” rating to a “neutral” rating and raised their price target for the stock from $188.00 to $200.00 in a report on Thursday, April 25th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and seven have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $191.47.
About General Dynamics
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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