Gateway Advisory LLC Has $319,000 Holdings in General Dynamics Co. (NYSE:GD)

Gateway Advisory LLC increased its stake in shares of General Dynamics Co. (NYSE:GD) by 10.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,099 shares of the aerospace company’s stock after purchasing an additional 100 shares during the quarter. Gateway Advisory LLC’s holdings in General Dynamics were worth $319,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Semmax Financial Advisors Inc. increased its stake in shares of General Dynamics by 9.5% in the second quarter. Semmax Financial Advisors Inc. now owns 3,359 shares of the aerospace company’s stock valued at $981,000 after buying an additional 291 shares during the period. Distillate Capital Partners LLC bought a new stake in General Dynamics during the second quarter valued at $19,633,000. Bank of Montreal Can grew its stake in General Dynamics by 1.0% during the second quarter. Bank of Montreal Can now owns 1,337,726 shares of the aerospace company’s stock worth $402,375,000 after purchasing an additional 13,855 shares during the period. Evergreen Capital Management LLC lifted its stake in General Dynamics by 150.4% in the second quarter. Evergreen Capital Management LLC now owns 3,989 shares of the aerospace company’s stock valued at $1,157,000 after buying an additional 2,396 shares during the period. Finally, Public Sector Pension Investment Board boosted its holdings in shares of General Dynamics by 1,230.9% during the 2nd quarter. Public Sector Pension Investment Board now owns 58,055 shares of the aerospace company’s stock worth $16,844,000 after buying an additional 53,693 shares in the last quarter. Institutional investors and hedge funds own 86.14% of the company’s stock.

Analyst Upgrades and Downgrades

GD has been the topic of a number of recent research reports. Robert W. Baird reiterated an “outperform” rating and issued a $345.00 target price on shares of General Dynamics in a report on Tuesday, July 2nd. Morgan Stanley upgraded shares of General Dynamics from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $293.00 to $345.00 in a report on Friday, August 9th. 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. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of General Dynamics in a research note on Monday, July 29th. 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 investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $315.06.

General Dynamics Price Performance

Shares of NYSE GD opened at $308.09 on Tuesday. General Dynamics Co. has a twelve month low of $214.53 and a twelve month high of $309.97. The company has a quick ratio of 0.80, a current ratio of 1.33 and a debt-to-equity ratio of 0.33. The firm has a market capitalization of $84.53 billion, a P/E ratio of 25.13, a P/E/G ratio of 1.64 and a beta of 0.61. The stock’s 50-day simple moving average is $295.24 and its two-hundred day simple moving average is $291.46.

General Dynamics (NYSE:GD) last issued 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). 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 for the quarter, compared to the consensus estimate of $11.46 billion. During the same quarter in the previous year, the business earned $2.70 earnings per share. The firm’s revenue was up 18.0% on a year-over-year basis. As a group, equities analysts anticipate that General Dynamics Co. will post 14.52 EPS for the current fiscal year.

General Dynamics Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, October 11th will be paid a $1.42 dividend. This represents a $5.68 annualized dividend and a dividend yield of 1.84%. The ex-dividend date of this dividend is Friday, October 11th. General Dynamics’s payout ratio is 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 completion of the sale, the director now owns 3,592 shares of the company’s stock, valued at $1,106,515.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.52% of the stock is currently owned by company insiders.

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.