Abacus Planning Group Inc. Buys 44 Shares of General Dynamics Co. (NYSE:GD)

Abacus Planning Group Inc. boosted its stake in General Dynamics Co. (NYSE:GD) by 3.4% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,351 shares of the aerospace company’s stock after acquiring an additional 44 shares during the period. Abacus Planning Group Inc.’s holdings in General Dynamics were worth $408,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA lifted its stake in General Dynamics by 4.0% in the second 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 last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of General Dynamics by 2.5% during the 1st 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 last quarter. Northern Trust Corp increased its holdings in General Dynamics by 1.1% in the 4th quarter. Northern Trust Corp now owns 2,282,757 shares of the aerospace company’s stock worth $592,764,000 after acquiring an additional 24,395 shares during the last quarter. Ameriprise Financial Inc. increased its holdings in General Dynamics by 2.4% in 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 last quarter. Finally, Boston Partners raised its stake in General Dynamics by 1.4% in 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 period. 86.14% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

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

General Dynamics Price Performance

Shares of General Dynamics stock opened at $303.92 on Thursday. The business’s 50-day moving average price is $296.90 and its 200-day moving average price is $292.72. The firm has a market capitalization of $83.38 billion, a PE ratio of 24.79, a price-to-earnings-growth ratio of 1.68 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 current ratio of 1.33, a quick ratio of 0.80 and a debt-to-equity ratio of 0.33.

General Dynamics (NYSE:GD) last announced its quarterly earnings data 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 business had revenue of $11.98 billion during the quarter, compared to the consensus estimate of $11.46 billion. During the same quarter in the previous year, the firm posted $2.70 earnings per share. The company’s revenue was up 18.0% compared to the same quarter last year. Sell-side analysts forecast that General Dynamics Co. will post 14.52 EPS for the current fiscal year.

General Dynamics Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 11th will be issued a $1.42 dividend. The ex-dividend date of this dividend is Friday, October 11th. This represents a $5.68 annualized dividend and a dividend yield of 1.87%. General Dynamics’s dividend payout ratio is currently 46.33%.

Analyst Ratings Changes

A number of analysts recently commented on GD shares. 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 target on the stock. Morgan Stanley upgraded General Dynamics from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $293.00 to $345.00 in a research report on Friday, August 9th. Barclays increased their price objective on General Dynamics from $310.00 to $325.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of General Dynamics in a report on Monday, July 29th. Finally, Wells Fargo & Company downgraded shares of General Dynamics from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $334.00 to $317.00 in a report on Tuesday. Six investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $317.41.

About General Dynamics

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.