Sienna Gestion Invests $746,000 in General Dynamics Co. (NYSE:GD)

Sienna Gestion acquired a new stake in shares of General Dynamics Co. (NYSE:GD) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 2,573 shares of the aerospace company’s stock, valued at approximately $746,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in GD. Richardson Financial Services Inc. purchased a new stake in shares of General Dynamics during the fourth quarter valued at $25,000. Redmont Wealth Advisors LLC purchased a new position in General Dynamics in the 1st quarter worth $25,000. Financial Synergies Wealth Advisors Inc. acquired a new stake in General Dynamics during the 1st quarter worth about $29,000. New Covenant Trust Company N.A. purchased a new stake in General Dynamics during the 1st quarter valued at about $29,000. Finally, American Capital Advisory LLC acquired a new position in shares of General Dynamics in the second quarter valued at about $29,000. Hedge funds and other institutional investors own 86.14% of the company’s stock.

General Dynamics Trading Down 0.5 %

Shares of NYSE:GD opened at $302.40 on Thursday. The business’s 50 day moving average price is $293.92 and its 200-day moving average price is $290.64. General Dynamics Co. has a 1 year low of $214.53 and a 1 year high of $309.97. The firm has a market capitalization of $82.97 billion, a price-to-earnings ratio of 24.67, a price-to-earnings-growth ratio of 1.64 and a beta of 0.61. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.33 and a quick ratio of 0.80.

General Dynamics (NYSE:GD) last posted its quarterly earnings data 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 analysts’ expectations of $11.46 billion. General Dynamics had a net margin of 7.89% and a return on equity of 16.74%. The business’s revenue for the quarter was up 18.0% on a year-over-year basis. During the same period in the previous year, the business earned $2.70 earnings per share. On average, equities research analysts forecast that General Dynamics Co. will post 14.52 earnings per share for the current fiscal year.

General Dynamics Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, October 11th will be issued a $1.42 dividend. This represents a $5.68 annualized dividend and a yield of 1.88%. The ex-dividend date of this dividend is Friday, October 11th. General Dynamics’s payout ratio is 46.33%.

Analyst Ratings Changes

GD has been the subject of a number of research reports. Royal Bank of Canada reaffirmed an “outperform” rating and set a $320.00 target price on shares of General Dynamics in a report on Thursday, July 25th. Sanford C. Bernstein upped their price objective on shares of General Dynamics from $290.00 to $302.00 and gave the company a “market perform” rating in a report on Thursday, May 23rd. BTIG Research assumed coverage on shares of General Dynamics in a research note on Wednesday, June 26th. They issued a “buy” rating and a $345.00 price objective on the stock. Barclays boosted their target price on shares of General Dynamics from $310.00 to $325.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. Finally, Wells Fargo & Company increased their price target on General Dynamics from $330.00 to $334.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. Six analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $315.06.

Insiders Place Their Bets

In other news, Director Peter A. Wall sold 1,320 shares of General Dynamics stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $308.05, for a total value of $406,626.00. Following the sale, the director now directly owns 3,592 shares of the company’s stock, valued at $1,106,515.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.52% of the stock is owned by company 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.