General Dynamics Co. (NYSE:GD) Stock Holdings Increased by Public Sector Pension Investment Board

Public Sector Pension Investment Board increased its holdings in General Dynamics Co. (NYSE:GD) by 1,230.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 58,055 shares of the aerospace company’s stock after purchasing an additional 53,693 shares during the quarter. Public Sector Pension Investment Board’s holdings in General Dynamics were worth $16,844,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Richardson Financial Services Inc. acquired a new stake in shares of General Dynamics during the fourth quarter valued at approximately $25,000. Redmont Wealth Advisors LLC acquired a new stake in shares of General Dynamics during the first quarter valued at approximately $25,000. Financial Synergies Wealth Advisors Inc. acquired a new stake in shares of General Dynamics during the first quarter valued at approximately $29,000. New Covenant Trust Company N.A. acquired a new stake in shares of General Dynamics during the first quarter valued at approximately $29,000. Finally, American Capital Advisory LLC acquired a new stake in shares of General Dynamics during the second quarter valued at approximately $29,000. 86.14% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on GD shares. Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of General Dynamics in a report on Monday, July 29th. Robert W. Baird reiterated an “outperform” rating and issued a $345.00 price objective on shares of General Dynamics in a research note on Tuesday, July 2nd. 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 note on Thursday, July 25th. Barclays upped their price objective on shares of General Dynamics from $310.00 to $325.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $320.00 price objective on shares of General Dynamics in a research note on Thursday, July 25th. Six analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, General Dynamics currently has an average rating of “Moderate Buy” and an average target price of $315.06.

Insiders Place Their Bets

In other General Dynamics news, Director Peter A. Wall sold 1,320 shares of the firm’s stock in a transaction 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 sale, the director now directly owns 3,592 shares in the company, valued at approximately $1,106,515.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.52% of the company’s stock.

General Dynamics Stock Performance

NYSE:GD opened at $308.09 on Tuesday. General Dynamics Co. has a 1 year low of $214.53 and a 1 year high of $309.97. The firm’s fifty day simple moving average is $295.24 and its 200 day simple moving average is $291.46. The company has a current ratio of 1.33, a quick ratio of 0.80 and a debt-to-equity ratio of 0.33. The firm has a market capitalization of $84.53 billion, a PE ratio of 25.13, a PEG ratio of 1.64 and a beta of 0.61.

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

General Dynamics Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, October 11th will be given a $1.42 dividend. The ex-dividend date of this dividend is Friday, October 11th. This represents a $5.68 annualized dividend and a yield of 1.84%. General Dynamics’s dividend payout ratio is 46.33%.

General Dynamics 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.