1832 Asset Management L.P. Buys 357,861 Shares of General Dynamics Co. (NYSE:GD)

1832 Asset Management L.P. raised its position in shares of General Dynamics Co. (NYSE:GD) by 2,189.3% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 374,207 shares of the aerospace company’s stock after acquiring an additional 357,861 shares during the period. 1832 Asset Management L.P. owned approximately 0.14% of General Dynamics worth $108,572,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Redmont Wealth Advisors LLC purchased a new stake in shares of General Dynamics in the first quarter valued at approximately $25,000. Richardson Financial Services Inc. purchased a new stake in General Dynamics during the 4th quarter worth approximately $25,000. American Capital Advisory LLC acquired a new position in shares of General Dynamics in the 2nd quarter valued at $29,000. Financial Synergies Wealth Advisors Inc. purchased a new position in shares of General Dynamics in the first quarter worth about $29,000. Finally, New Covenant Trust Company N.A. purchased a new position in shares of General Dynamics during the first quarter worth $29,000. Hedge funds and other institutional investors own 86.14% of the company’s stock.

Insider Buying and Selling at General Dynamics

In other 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 value of $406,626.00. Following the transaction, the director now directly owns 3,592 shares in the company, valued at approximately $1,106,515.60. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 1.52% of the company’s stock.

General Dynamics Stock Up 0.7 %

Shares of NYSE GD opened at $306.87 on Monday. General Dynamics Co. has a 1 year low of $214.53 and a 1 year high of $309.97. The company has a market capitalization 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 50 day simple moving average of $294.79 and a 200-day simple moving average of $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.

General Dynamics (NYSE:GD) last posted its earnings results on Wednesday, July 24th. The aerospace company reported $3.26 EPS for the quarter, missing analysts’ consensus estimates of $3.30 by ($0.04). The business had revenue of $11.98 billion during the quarter, compared to analysts’ expectations 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 for the quarter was up 18.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.70 EPS. On average, equities research analysts predict that General Dynamics Co. will post 14.52 earnings per share for the current year.

General Dynamics Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, October 11th will be paid a dividend of $1.42 per share. This represents a $5.68 annualized dividend and a yield of 1.85%. The ex-dividend date of this dividend is Friday, October 11th. General Dynamics’s dividend payout ratio (DPR) is presently 46.33%.

Wall Street Analysts Forecast Growth

Several research firms have commented on GD. Royal Bank of Canada restated an “outperform” rating and issued a $320.00 price objective on shares of General Dynamics in a research report on Thursday, July 25th. Morgan Stanley raised shares of General Dynamics from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $293.00 to $345.00 in a research note on Friday, August 9th. Barclays lifted their price target on General Dynamics from $310.00 to $325.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. Wells Fargo & Company raised their price objective on General Dynamics from $330.00 to $334.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Finally, Robert W. Baird reaffirmed an “outperform” rating and set a $345.00 target price on shares of General Dynamics in a research note on Tuesday, July 2nd. Six research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, General Dynamics currently has an average rating of “Moderate Buy” and a consensus target price 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.