Distillate Capital Partners LLC Acquires New Stake in General Dynamics Co. (NYSE:GD)

Distillate Capital Partners LLC acquired a new position in shares of General Dynamics Co. (NYSE:GD) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 67,667 shares of the aerospace company’s stock, valued at approximately $19,633,000. General Dynamics comprises about 1.0% of Distillate Capital Partners LLC’s holdings, making the stock its 26th biggest position.

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

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on GD. Wells Fargo & Company increased their target price on shares of General Dynamics from $330.00 to $334.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Barclays upped their target price on General Dynamics from $310.00 to $325.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. BTIG Research assumed coverage on General Dynamics in a research note on Wednesday, June 26th. They set a “buy” rating and a $345.00 price target for the company. Royal Bank of Canada reissued an “outperform” rating and issued a $320.00 price objective on shares of General Dynamics in a research note on Thursday, July 25th. Finally, Robert W. Baird reaffirmed an “outperform” rating and issued a $345.00 price target on shares of General Dynamics in a report on Tuesday, July 2nd. Six investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, General Dynamics presently has a consensus rating of “Moderate Buy” and a consensus price target of $315.06.

Insiders Place Their Bets

In other General Dynamics news, Director Peter A. Wall sold 1,320 shares of General Dynamics stock in a transaction that occurred 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 transaction, the director now directly owns 3,592 shares of the company’s stock, valued at $1,106,515.60. The sale was disclosed in a filing with the SEC, which is available at this link. 1.52% of the stock is currently owned by insiders.

General Dynamics Stock Up 0.4 %

GD opened at $308.09 on Tuesday. The stock has a market capitalization of $84.53 billion, a price-to-earnings ratio of 25.13, a price-to-earnings-growth ratio of 1.64 and a beta of 0.61. General Dynamics Co. has a 12 month low of $214.53 and a 12 month high of $309.97. 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 business has a 50-day moving average of $295.24 and a two-hundred day moving average of $291.46.

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

General Dynamics Announces Dividend

The company 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 dividend of $1.42 per share. This represents a $5.68 dividend on an annualized basis and a yield of 1.84%. The ex-dividend date is Friday, October 11th. General Dynamics’s dividend payout ratio (DPR) 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.