Victory Capital Management Inc. Increases Stake in General Dynamics Co. (NYSE:GD)

Victory Capital Management Inc. lifted its stake in General Dynamics Co. (NYSE:GD) by 2.7% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 344,761 shares of the aerospace company’s stock after buying an additional 8,926 shares during the quarter. Victory Capital Management Inc. owned approximately 0.13% of General Dynamics worth $100,029,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Gilbert & Cook Inc. increased its stake in General Dynamics by 5.1% in the 4th quarter. Gilbert & Cook Inc. now owns 2,509 shares of the aerospace company’s stock worth $652,000 after acquiring an additional 122 shares during the last quarter. Principal Securities Inc. bought a new stake in General Dynamics in the fourth quarter worth $1,056,000. Principal Street Partners LLC purchased a new stake in General Dynamics during the fourth quarter valued at $207,000. BNP Paribas Financial Markets lifted its position in General Dynamics by 61.4% during the fourth quarter. BNP Paribas Financial Markets now owns 207,156 shares of the aerospace company’s stock valued at $53,792,000 after purchasing an additional 78,800 shares during the last quarter. Finally, AGF Management Ltd. grew its stake in shares of General Dynamics by 9.1% in the 4th quarter. AGF Management Ltd. now owns 14,939 shares of the aerospace company’s stock worth $3,879,000 after buying an additional 1,245 shares in the last quarter. Institutional investors own 86.14% of the company’s stock.

General Dynamics Trading Down 1.5 %

GD opened at $292.78 on Friday. 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 stock’s fifty day moving average is $290.80 and its two-hundred day moving average is $288.98. The company has a market capitalization of $80.33 billion, a P/E ratio of 23.88, a PEG ratio of 1.64 and a beta of 0.61. General Dynamics Co. has a 52 week low of $214.53 and a 52 week high of $302.75.

General Dynamics (NYSE:GD) last released its quarterly earnings data on Wednesday, July 24th. The aerospace company reported $3.26 earnings per share for the quarter, missing the consensus estimate of $3.30 by ($0.04). General Dynamics had a net margin of 7.89% and a return on equity of 16.74%. The firm had revenue of $11.98 billion during the quarter, compared to the consensus estimate of $11.46 billion. During the same quarter in the previous year, the firm earned $2.70 earnings per share. The business’s revenue was up 18.0% compared to the same quarter last year. Analysts forecast that General Dynamics Co. will post 14.52 earnings per share for the current year.

General Dynamics Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 11th will be paid a dividend of $1.42 per share. The ex-dividend date of this dividend is Friday, October 11th. This represents a $5.68 dividend on an annualized basis and a dividend yield of 1.94%. General Dynamics’s dividend payout ratio is presently 46.33%.

Analyst Ratings Changes

GD has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of General Dynamics in a report on Monday, July 29th. Sanford C. Bernstein boosted their target price on General Dynamics from $290.00 to $302.00 and gave the company a “market perform” rating in a research report on Thursday, May 23rd. Royal Bank of Canada restated an “outperform” rating and set a $320.00 price target on shares of General Dynamics in a report on Thursday, July 25th. BTIG Research began coverage on shares of General Dynamics in a research note on Wednesday, June 26th. They set a “buy” rating and a $345.00 price objective for the company. Finally, Robert W. Baird restated an “outperform” rating and issued a $345.00 target price on shares of General Dynamics in a report on Tuesday, July 2nd. Six research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $315.06.

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.