Dana Investment Advisors Inc. Invests $4.70 Million in General Dynamics Co. (NYSE:GD)

Dana Investment Advisors Inc. purchased a new position in shares of General Dynamics Co. (NYSE:GD) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 16,189 shares of the aerospace company’s stock, valued at approximately $4,697,000.

A number of other hedge funds have also bought and sold shares of the company. Modera Wealth Management LLC boosted its holdings in shares of General Dynamics by 0.4% in the 2nd quarter. Modera Wealth Management LLC now owns 8,120 shares of the aerospace company’s stock valued at $2,356,000 after buying an additional 35 shares during the period. Rathbones Group PLC lifted its holdings in shares of General Dynamics by 1.8% in the 2nd quarter. Rathbones Group PLC now owns 2,022 shares of the aerospace company’s stock worth $587,000 after purchasing an additional 35 shares during the last quarter. Legend Financial Advisors Inc. boosted its position in General Dynamics by 46.8% during the 1st quarter. Legend Financial Advisors Inc. now owns 113 shares of the aerospace company’s stock valued at $32,000 after purchasing an additional 36 shares during the period. Diversified Trust Co increased its position in General Dynamics by 2.5% in the first quarter. Diversified Trust Co now owns 1,503 shares of the aerospace company’s stock worth $425,000 after buying an additional 36 shares during the period. Finally, Fulton Bank N.A. lifted its stake in General Dynamics by 1.1% in the first quarter. Fulton Bank N.A. now owns 3,299 shares of the aerospace company’s stock valued at $932,000 after buying an additional 37 shares during the last quarter. 86.14% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on GD shares. BTIG Research started coverage on shares of General Dynamics in a research report on Wednesday, June 26th. They set a “buy” rating and a $345.00 price target for the company. Wells Fargo & Company lowered shares of General Dynamics from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $334.00 to $317.00 in a research note on Tuesday. Morgan Stanley upgraded General Dynamics from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $293.00 to $345.00 in a research report on Friday, August 9th. Royal Bank of Canada reiterated an “outperform” rating and set a $320.00 price target on shares of General Dynamics in a research report on Thursday, July 25th. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of General Dynamics in a report on Monday, July 29th. Six analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $317.41.

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 dated 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 1.52% of the stock is currently owned by corporate insiders.

General Dynamics Stock Performance

NYSE:GD opened at $305.32 on Wednesday. The company has a 50-day moving average of $296.51 and a 200-day moving average of $292.64. The firm has a market cap of $83.77 billion, a price-to-earnings ratio of 24.90, a price-to-earnings-growth ratio of 1.68 and a beta of 0.61. The company has a current ratio of 1.33, a quick ratio of 0.80 and a debt-to-equity ratio of 0.33. General Dynamics Co. has a twelve month low of $214.53 and a twelve month high of $309.97.

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

General Dynamics Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 11th will be issued a dividend of $1.42 per share. This represents a $5.68 annualized dividend and a dividend yield of 1.86%. The ex-dividend date of this dividend is Friday, October 11th. General Dynamics’s dividend payout ratio is 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.