Ieq Capital LLC Boosts Stake in General Dynamics Co. (NYSE:GD)

Ieq Capital LLC raised its position in General Dynamics Co. (NYSE:GD) by 17.0% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,287 shares of the aerospace company’s stock after purchasing an additional 3,820 shares during the quarter. Ieq Capital LLC’s holdings in General Dynamics were worth $7,627,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of GD. Gladstone Capital Management LLP purchased a new stake in General Dynamics during the 4th quarter worth $3,869,000. SWP Financial LLC acquired a new position in shares of General Dynamics during the fourth quarter worth about $227,000. Sanibel Captiva Trust Company Inc. purchased a new stake in shares of General Dynamics in the fourth quarter worth about $28,107,000. Evercore Wealth Management LLC grew its stake in shares of General Dynamics by 1.5% in the fourth quarter. Evercore Wealth Management LLC now owns 5,355 shares of the aerospace company’s stock valued at $1,391,000 after buying an additional 78 shares in the last quarter. Finally, TD Asset Management Inc raised its holdings in shares of General Dynamics by 7.2% during the 4th quarter. TD Asset Management Inc now owns 80,280 shares of the aerospace company’s stock valued at $20,846,000 after buying an additional 5,405 shares during the period. 86.14% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at General Dynamics

In related news, Director Peter A. Wall sold 1,320 shares of General Dynamics stock in a transaction dated Monday, September 16th. The shares were 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 in the company, valued at approximately $1,106,515.60. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 1.52% of the company’s stock.

General Dynamics Stock Performance

GD stock opened at $306.87 on Friday. The stock’s 50 day simple moving average is $294.79 and its 200 day simple moving average is $290.97. General Dynamics Co. has a 12-month low of $214.53 and a 12-month high of $309.97. The firm has a market cap of $84.19 billion, a P/E ratio of 25.03, a P/E/G ratio of 1.64 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 (NYSE:GD) last posted its quarterly earnings results on Wednesday, July 24th. The aerospace company reported $3.26 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 business had revenue of $11.98 billion during the quarter, compared to analyst estimates of $11.46 billion. During the same period last year, the firm posted $2.70 earnings per share. The company’s quarterly revenue was up 18.0% on a year-over-year basis. As a group, equities research analysts predict that General Dynamics Co. will post 14.52 EPS for the current year.

General Dynamics Dividend Announcement

The company also recently declared 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 1.85%. The ex-dividend date of this dividend is Friday, October 11th. General Dynamics’s dividend payout ratio (DPR) is 46.33%.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Robert W. Baird reaffirmed an “outperform” rating and issued a $345.00 price objective on shares of General Dynamics in a research report on Tuesday, July 2nd. BTIG Research assumed coverage on shares of General Dynamics in a report on Wednesday, June 26th. They set a “buy” rating and a $345.00 price target for the company. Morgan Stanley raised shares of General Dynamics from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $293.00 to $345.00 in a research note on Friday, August 9th. Wells Fargo & Company upped their price objective on shares of General Dynamics from $330.00 to $334.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $320.00 target price on shares of General Dynamics in a research report on Thursday, July 25th. Six investment 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 company currently has a consensus rating of “Moderate Buy” and a consensus price target of $315.06.

About General Dynamics

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.