Park Place Capital Corp Increases Stock Position in General Dynamics Co. (NYSE:GD)

Park Place Capital Corp grew its stake in General Dynamics Co. (NYSE:GD) by 670.3% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 2,126 shares of the aerospace company’s stock after acquiring an additional 1,850 shares during the period. Park Place Capital Corp’s holdings in General Dynamics were worth $642,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in GD. Dynamic Advisor Solutions LLC lifted its stake in General Dynamics by 5.7% during the third quarter. Dynamic Advisor Solutions LLC now owns 2,859 shares of the aerospace company’s stock worth $864,000 after purchasing an additional 155 shares in the last quarter. IMZ Advisory Inc acquired a new position in General Dynamics during the 3rd quarter worth about $230,000. Salvus Wealth Management LLC boosted its holdings in General Dynamics by 10.6% during the 3rd quarter. Salvus Wealth Management LLC now owns 1,157 shares of the aerospace company’s stock valued at $350,000 after acquiring an additional 111 shares during the period. Miracle Mile Advisors LLC grew its position in General Dynamics by 26.6% in the 3rd quarter. Miracle Mile Advisors LLC now owns 2,486 shares of the aerospace company’s stock valued at $751,000 after acquiring an additional 523 shares in the last quarter. Finally, Diversified Trust Co increased its stake in General Dynamics by 7.1% during the third quarter. Diversified Trust Co now owns 2,163 shares of the aerospace company’s stock worth $654,000 after purchasing an additional 143 shares during the period. 86.14% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Peter A. Wall sold 1,320 shares of the stock in a transaction 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 owns 3,592 shares in the company, valued at $1,106,515.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.52% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

GD has been the subject of a number of research reports. BTIG Research assumed coverage on shares of General Dynamics in a report on Wednesday, June 26th. They issued a “buy” rating and a $345.00 price objective for the company. Royal Bank of Canada reaffirmed an “outperform” rating and set a $320.00 price objective on shares of General Dynamics in a research report on Thursday, July 25th. Wells Fargo & Company cut General Dynamics from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $334.00 to $317.00 in a research note on Tuesday, October 1st. Morgan Stanley raised General Dynamics from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $293.00 to $345.00 in a research note on Friday, August 9th. Finally, Barclays increased their price target on General Dynamics from $310.00 to $325.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. Six analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $317.06.

General Dynamics Stock Down 0.6 %

Shares of General Dynamics stock traded down $1.64 during trading hours on Tuesday, hitting $295.65. The company had a trading volume of 228,343 shares, compared to its average volume of 1,095,768. 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 company’s 50-day moving average is $297.43 and its two-hundred day moving average is $293.21. The company has a market cap of $81.12 billion, a P/E ratio of 24.15, a price-to-earnings-growth ratio of 1.68 and a beta of 0.61. General Dynamics Co. has a twelve month low of $228.50 and a twelve month high of $309.97.

General Dynamics (NYSE:GD) last released 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). General Dynamics had a net margin of 7.89% and a return on equity of 16.74%. The company had revenue of $11.98 billion during the quarter, compared to analyst estimates of $11.46 billion. During the same quarter in the prior year, the company earned $2.70 EPS. The business’s revenue was up 18.0% on a year-over-year basis. Analysts anticipate that General Dynamics Co. will post 14.52 earnings per share for the current fiscal year.

General Dynamics Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, October 11th will be paid a dividend of $1.42 per share. The ex-dividend date is Friday, October 11th. This represents a $5.68 dividend on an annualized basis and a yield of 1.92%. General Dynamics’s dividend payout ratio is presently 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.