Gateway Advisory LLC Grows Stock Holdings in General Dynamics Co. (NYSE:GD)

Gateway Advisory LLC grew its position in General Dynamics Co. (NYSE:GD) by 10.0% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 1,099 shares of the aerospace company’s stock after buying an additional 100 shares during the period. Gateway Advisory LLC’s holdings in General Dynamics were worth $319,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA raised its stake 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 buying an additional 293,316 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in General Dynamics by 2.5% in 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 acquiring an additional 115,063 shares during the last quarter. Sanders Capital LLC boosted its stake in General Dynamics by 3.7% during the fourth quarter. Sanders Capital LLC now owns 4,164,857 shares of the aerospace company’s stock valued at $1,081,488,000 after buying an additional 147,800 shares during the last quarter. Northern Trust Corp grew its holdings in shares of 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 purchasing an additional 24,395 shares in the last quarter. Finally, Boston Partners grew its stake in shares of General Dynamics by 1.4% in the 1st quarter. Boston Partners now owns 1,680,666 shares of the aerospace company’s stock worth $474,927,000 after buying an additional 23,262 shares in the last quarter. 86.14% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

GD has been the topic of several recent analyst reports. 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 research note on Thursday, July 25th. Barclays raised their target price on shares of General Dynamics from $310.00 to $325.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. Royal Bank of Canada restated an “outperform” rating and issued a $320.00 price objective on shares of General Dynamics in a research note on Thursday, July 25th. BTIG Research assumed coverage on shares of General Dynamics in a report on Wednesday, June 26th. They issued a “buy” rating and a $345.00 price objective for the company. Finally, Morgan Stanley raised General Dynamics from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $293.00 to $345.00 in a research note on Friday, August 9th. Six investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $315.06.

General Dynamics Stock Performance

Shares of GD opened at $308.09 on Tuesday. The company has a market cap 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. The firm has a fifty day moving average of $295.24 and a 200-day moving average of $291.46. General Dynamics Co. has a 1 year low of $214.53 and a 1 year high of $309.97. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.80 and a current ratio of 1.33.

General Dynamics (NYSE:GD) last posted its quarterly earnings data on Wednesday, July 24th. The aerospace company reported $3.26 earnings per share for the quarter, missing the consensus estimate 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 during the quarter, compared to analyst estimates of $11.46 billion. During the same period in the previous year, the company earned $2.70 EPS. The business’s revenue for the quarter was up 18.0% compared to the same quarter last year. As a group, equities analysts anticipate that General Dynamics Co. will post 14.52 earnings per share for the current year.

General Dynamics Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 11th will be given a dividend of $1.42 per share. The ex-dividend date of this dividend is Friday, October 11th. This represents a $5.68 annualized dividend and a dividend yield of 1.84%. General Dynamics’s dividend payout ratio (DPR) is 46.33%.

Insider Activity

In other General Dynamics news, Director Peter A. Wall sold 1,320 shares of the firm’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $308.05, for a total value of $406,626.00. Following the completion of the transaction, the director now directly owns 3,592 shares in the company, valued at $1,106,515.60. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 1.52% of the company’s stock.

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.