King Luther Capital Management Corp Has $6.62 Million Stock Holdings in General Dynamics Co. (NYSE:GD)

King Luther Capital Management Corp increased its position in shares of General Dynamics Co. (NYSE:GD) by 0.5% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 22,798 shares of the aerospace company’s stock after buying an additional 110 shares during the quarter. King Luther Capital Management Corp’s holdings in General Dynamics were worth $6,615,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in GD. Public Employees Retirement Association of Colorado raised its stake in shares of General Dynamics by 20.1% in the second quarter. Public Employees Retirement Association of Colorado now owns 408,649 shares of the aerospace company’s stock worth $118,565,000 after purchasing an additional 68,290 shares during the last quarter. Benjamin F. Edwards & Company Inc. raised its position in General Dynamics by 2.2% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 41,594 shares of the aerospace company’s stock valued at $12,068,000 after buying an additional 892 shares during the last quarter. Ieq Capital LLC lifted its stake in General Dynamics by 17.0% during the 2nd quarter. Ieq Capital LLC now owns 26,287 shares of the aerospace company’s stock valued at $7,627,000 after acquiring an additional 3,820 shares in the last quarter. ProVise Management Group LLC boosted its holdings in General Dynamics by 1.2% during the 2nd quarter. ProVise Management Group LLC now owns 29,384 shares of the aerospace company’s stock worth $8,525,000 after acquiring an additional 336 shares during the last quarter. Finally, XTX Topco Ltd bought a new stake in shares of General Dynamics in the 2nd quarter worth $1,370,000. Institutional investors own 86.14% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on GD shares. Wells Fargo & Company increased their price objective on shares of General Dynamics from $330.00 to $334.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. Robert W. Baird reaffirmed an “outperform” rating and set a $345.00 price target on shares of General Dynamics in a research report on Tuesday, July 2nd. BTIG Research started coverage on General Dynamics in a research report on Wednesday, June 26th. They issued a “buy” rating and a $345.00 price objective on the stock. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of General Dynamics in a research report on Monday, July 29th. Finally, Barclays boosted their price target on shares of General Dynamics from $310.00 to $325.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. Six investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $315.06.

General Dynamics Price Performance

Shares of NYSE GD opened at $306.87 on Friday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.80 and a current ratio of 1.33. The company has a 50 day simple moving average of $294.79 and a two-hundred day simple moving average of $290.97. General Dynamics Co. has a fifty-two week low of $214.53 and a fifty-two week high of $309.97. The company has a market capitalization of $84.19 billion, a price-to-earnings ratio of 25.03, a P/E/G ratio of 1.64 and a beta of 0.61.

General Dynamics (NYSE:GD) last announced its quarterly earnings results 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). The firm had revenue of $11.98 billion for the quarter, compared to the consensus estimate of $11.46 billion. General Dynamics had a net margin of 7.89% and a return on equity of 16.74%. General Dynamics’s revenue was up 18.0% on a year-over-year basis. During the same period last year, the business earned $2.70 EPS. Analysts expect that General Dynamics Co. will post 14.52 EPS for the current fiscal year.

General Dynamics Announces Dividend

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 given a $1.42 dividend. The ex-dividend date is Friday, October 11th. This represents a $5.68 annualized dividend and a yield of 1.85%. General Dynamics’s payout ratio is 46.33%.

Insider Buying and Selling at General Dynamics

In other General Dynamics news, Director Peter A. Wall sold 1,320 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $308.05, for a total transaction of $406,626.00. Following the completion of 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 SEC, which can be accessed through this link. Corporate insiders own 1.52% of the company’s stock.

General Dynamics 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.