General Dynamics Co. (NYSE:GD) Shares Purchased by Bank of Montreal Can

Bank of Montreal Can raised its stake in shares of General Dynamics Co. (NYSE:GD) by 1.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,337,726 shares of the aerospace company’s stock after acquiring an additional 13,855 shares during the quarter. Bank of Montreal Can owned approximately 0.49% of General Dynamics worth $402,375,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Redmont Wealth Advisors LLC acquired a new position in General Dynamics in the first quarter worth about $25,000. Richardson Financial Services Inc. acquired a new position in shares of General Dynamics in the 4th quarter worth approximately $25,000. American Capital Advisory LLC bought a new stake in shares of General Dynamics in the 2nd quarter valued at approximately $29,000. Financial Synergies Wealth Advisors Inc. bought a new stake in shares of General Dynamics in the 1st quarter valued at approximately $29,000. Finally, New Covenant Trust Company N.A. acquired a new stake in shares of General Dynamics during the 1st quarter valued at approximately $29,000. 86.14% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

GD has been the subject of several recent research reports. Morgan Stanley upgraded shares of General Dynamics from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $293.00 to $345.00 in a research note on Friday, August 9th. Robert W. Baird restated an “outperform” rating and issued a $345.00 target price on shares of General Dynamics in a research note on Tuesday, July 2nd. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of General Dynamics in a research report on Monday, July 29th. Barclays boosted their price objective on General Dynamics from $310.00 to $325.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $320.00 target price on shares of General Dynamics in a research report on Thursday, July 25th. Six analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $315.06.

Insider Activity at General Dynamics

In other General Dynamics news, Director Peter A. Wall sold 1,320 shares of the company’s stock in a transaction 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 transaction, the director now owns 3,592 shares of the company’s stock, valued at $1,106,515.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.52% of the company’s stock.

General Dynamics Price Performance

Shares of NYSE:GD opened at $306.87 on Monday. The stock’s 50 day moving average price is $294.79 and its 200 day moving average price is $291.21. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.33 and a quick ratio of 0.80. The stock has a market cap of $84.19 billion, a price-to-earnings ratio of 25.03, a PEG ratio of 1.64 and a beta of 0.61. General Dynamics Co. has a 12 month low of $214.53 and a 12 month high of $309.97.

General Dynamics (NYSE:GD) last announced 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 analyst estimates of $11.46 billion. During the same quarter last year, the company earned $2.70 EPS. The company’s quarterly revenue was up 18.0% compared to the same quarter last year. Equities research analysts anticipate that General Dynamics Co. will post 14.52 earnings per share for the current fiscal year.

General Dynamics Dividend Announcement

The firm also recently announced 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. 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 1.85%. General Dynamics’s payout ratio is currently 46.33%.

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.