Kimelman & Baird LLC Invests $290,000 in General Dynamics Co. (NYSE:GD)

Kimelman & Baird LLC purchased a new stake in General Dynamics Co. (NYSE:GD) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 1,000 shares of the aerospace company’s stock, valued at approximately $290,000.

Other institutional investors have also recently bought and sold shares of the company. Massachusetts Financial Services Co. MA lifted its position in General Dynamics by 4.0% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 7,639,758 shares of the aerospace company’s stock valued at $2,216,599,000 after purchasing an additional 293,316 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in General Dynamics by 2.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 4,782,612 shares of the aerospace company’s stock valued at $1,351,041,000 after buying an additional 115,063 shares during the period. Northern Trust Corp boosted its stake in General Dynamics by 1.1% in the fourth quarter. Northern Trust Corp now owns 2,282,757 shares of the aerospace company’s stock valued at $592,764,000 after acquiring an additional 24,395 shares during the last quarter. Ameriprise Financial Inc. grew its holdings in General Dynamics by 2.4% during the 2nd quarter. Ameriprise Financial Inc. now owns 2,071,803 shares of the aerospace company’s stock worth $601,756,000 after acquiring an additional 47,915 shares during the period. Finally, Boston Partners raised its position in shares of General Dynamics by 1.4% during the 1st quarter. Boston Partners now owns 1,680,666 shares of the aerospace company’s stock valued at $474,927,000 after acquiring an additional 23,262 shares during the last quarter. Institutional investors own 86.14% of the company’s stock.

Insiders Place Their Bets

In other news, Director Peter A. Wall sold 1,320 shares of the stock in a transaction that occurred 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 approximately $1,106,515.60. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 1.52% of the company’s stock.

General Dynamics Price Performance

Shares of GD opened at $302.20 on Tuesday. The company has a 50 day moving average of $296.30 and a 200-day moving average of $292.43. 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 stock has a market capitalization of $82.91 billion, a P/E ratio of 24.65, a P/E/G ratio of 1.68 and a beta of 0.61. General Dynamics Co. has a twelve month low of $214.53 and a twelve month high of $309.97.

General Dynamics (NYSE:GD) last issued 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 business had revenue of $11.98 billion during the quarter, compared to analyst estimates of $11.46 billion. General Dynamics had a net margin of 7.89% and a return on equity of 16.74%. The firm’s quarterly revenue was up 18.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.70 earnings per share. As a group, equities research analysts forecast that General Dynamics Co. will post 14.52 EPS for the current fiscal 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 paid a $1.42 dividend. The ex-dividend date of this dividend is Friday, October 11th. This represents a $5.68 dividend on an annualized basis and a yield of 1.88%. General Dynamics’s dividend payout ratio is 46.33%.

Analyst Ratings Changes

GD has been the subject of a number of recent analyst reports. BTIG Research began coverage on General Dynamics in a report on Wednesday, June 26th. They issued 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 price target for the company from $293.00 to $345.00 in a research report on Friday, August 9th. Royal Bank of Canada restated an “outperform” rating and set a $320.00 price objective on shares of General Dynamics in a report on Thursday, July 25th. Barclays increased their target price on shares of General Dynamics from $310.00 to $325.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of General Dynamics in a report on Monday, July 29th. Five research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $318.41.

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.