Semmax Financial Advisors Inc. Buys 291 Shares of General Dynamics Co. (NYSE:GD)

Semmax Financial Advisors Inc. raised its stake in General Dynamics Co. (NYSE:GD) by 9.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,359 shares of the aerospace company’s stock after buying an additional 291 shares during the period. Semmax Financial Advisors Inc.’s holdings in General Dynamics were worth $981,000 at the end of the most recent quarter.

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

General Dynamics Stock Performance

Shares of GD opened at $308.09 on Tuesday. General Dynamics Co. has a 12 month low of $214.53 and a 12 month high of $309.97. The business’s fifty day simple moving average is $295.24 and its two-hundred 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 company has a market cap of $84.53 billion, a price-to-earnings ratio of 25.13, a P/E/G ratio of 1.64 and a beta of 0.61.

General Dynamics (NYSE:GD) last announced its quarterly 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 company had revenue of $11.98 billion during the quarter, compared to the consensus estimate 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 was up 18.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.70 earnings per share. Research analysts anticipate that General Dynamics Co. will post 14.52 earnings per share for the current fiscal year.

General Dynamics Dividend Announcement

The firm 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 payout ratio is presently 46.33%.

Insider Transactions at General Dynamics

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

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on GD. Barclays boosted their price objective on General Dynamics from $310.00 to $325.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. Royal Bank of Canada reiterated an “outperform” rating and set a $320.00 price target on shares of General Dynamics in a report on Thursday, July 25th. BTIG Research initiated coverage on shares of General Dynamics in a research note on Wednesday, June 26th. They set a “buy” rating and a $345.00 price objective for the company. Morgan Stanley upgraded 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 report on Friday, August 9th. Finally, Robert W. Baird reaffirmed an “outperform” rating and set a $345.00 price target on shares of General Dynamics in a research report on Tuesday, July 2nd. Six equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $315.06.

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.