GAMMA Investing LLC Has $706,000 Stock Holdings in General Dynamics Co. (NYSE:GD)

GAMMA Investing LLC boosted its holdings in shares of General Dynamics Co. (NYSE:GD) by 8.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,499 shares of the aerospace company’s stock after buying an additional 202 shares during the quarter. GAMMA Investing LLC’s holdings in General Dynamics were worth $706,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of GD. Eudaimonia Partners LLC acquired a new stake in shares of General Dynamics in the fourth quarter valued at about $240,000. Benjamin F. Edwards & Company Inc. lifted its stake in shares of General Dynamics by 188.3% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 40,830 shares of the aerospace company’s stock valued at $10,602,000 after buying an additional 26,668 shares during the period. Pacer Advisors Inc. lifted its stake in shares of General Dynamics by 99.3% in the fourth quarter. Pacer Advisors Inc. now owns 29,045 shares of the aerospace company’s stock valued at $7,542,000 after buying an additional 14,468 shares during the period. Principal Securities Inc. bought a new stake in shares of General Dynamics in the fourth quarter valued at about $1,056,000. Finally, Caisse DE Depot ET Placement DU Quebec bought a new stake in shares of General Dynamics in the third quarter valued at about $16,077,000. 86.14% of the stock is owned by institutional investors and hedge funds.

General Dynamics Trading Up 1.4 %

General Dynamics stock opened at $298.00 on Thursday. The firm has a 50-day moving average of $292.97 and a 200-day moving average of $275.78. General Dynamics Co. has a one year low of $209.25 and a one year high of $302.42. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.44 and a quick ratio of 0.87. The company has a market cap of $81.76 billion, a price-to-earnings ratio of 24.31, a P/E/G ratio of 1.70 and a beta of 0.64.

General Dynamics (NYSE:GD) last issued its earnings results on Wednesday, April 24th. The aerospace company reported $2.88 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.89 by ($0.01). The firm had revenue of $10.73 billion during the quarter, compared to the consensus estimate of $10.26 billion. General Dynamics had a net margin of 7.85% and a return on equity of 16.48%. The firm’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same period in the previous year, the company posted $2.64 earnings per share. On average, equities analysts expect that General Dynamics Co. will post 14.55 earnings per share for the current fiscal year.

General Dynamics Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 9th. Stockholders of record on Friday, July 5th will be issued a $1.42 dividend. The ex-dividend date of this dividend is Friday, July 5th. This represents a $5.68 dividend on an annualized basis and a dividend yield of 1.91%. General Dynamics’s payout ratio is 46.33%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on GD shares. Argus increased their target price on shares of General Dynamics from $290.00 to $310.00 and gave the company a “buy” rating in a research note on Monday, April 29th. Royal Bank of Canada cut their price target on shares of General Dynamics from $325.00 to $320.00 and set an “outperform” rating for the company in a research note on Thursday, April 25th. StockNews.com lowered shares of General Dynamics from a “strong-buy” rating to a “buy” rating in a report on Friday, May 3rd. Sanford C. Bernstein raised their price objective on shares of General Dynamics from $290.00 to $302.00 and gave the stock a “market perform” rating in a report on Thursday, May 23rd. Finally, Barclays raised their price objective on shares of General Dynamics from $285.00 to $310.00 and gave the stock an “overweight” rating in a report on Monday, April 15th. Five research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $300.63.

Insider Activity

In other General Dynamics news, VP Gregory S. Gallopoulos sold 13,567 shares of the stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $288.51, for a total value of $3,914,215.17. Following the transaction, the vice president now directly owns 103,345 shares of the company’s stock, valued at approximately $29,816,065.95. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other General Dynamics news, VP Gregory S. Gallopoulos sold 13,567 shares of the stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $288.51, for a total value of $3,914,215.17. Following the transaction, the vice president now directly owns 103,345 shares of the company’s stock, valued at approximately $29,816,065.95. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP William A. Moss sold 21,050 shares of the stock in a transaction dated 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 completion of the transaction, the vice president now directly owns 16,624 shares in the company, valued at $4,901,586.40. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 118,486 shares of company stock valued at $34,391,642. 1.52% of the stock is owned by company insiders.

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.