General Dynamics Co. (NYSE:GD) Shares Acquired by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. increased its holdings in shares of General Dynamics Co. (NYSE:GD) by 10.9% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 25,204 shares of the aerospace company’s stock after purchasing an additional 2,471 shares during the quarter. Daiwa Securities Group Inc.’s holdings in General Dynamics were worth $7,313,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Richardson Financial Services Inc. acquired a new position in shares of General Dynamics during the fourth quarter worth about $25,000. Redmont Wealth Advisors LLC acquired a new position in General Dynamics during the 1st quarter worth approximately $25,000. Financial Synergies Wealth Advisors Inc. purchased a new position in General Dynamics in the 1st quarter worth approximately $29,000. New Covenant Trust Company N.A. acquired a new stake in General Dynamics in the first quarter valued at approximately $29,000. Finally, American Capital Advisory LLC purchased a new stake in shares of General Dynamics during the second quarter valued at approximately $29,000. Hedge funds and other institutional investors own 86.14% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Barclays upped 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. Wells Fargo & Company raised their target price on General Dynamics from $330.00 to $334.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $320.00 target price on shares of General Dynamics in a research report on Thursday, July 25th. Morgan Stanley raised 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 report on Friday, August 9th. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of General Dynamics in a report on Monday, July 29th. 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 stock currently has an average rating of “Moderate Buy” and a consensus target price of $315.06.

General Dynamics Trading Down 1.0 %

General Dynamics stock opened at $299.47 on Thursday. General Dynamics Co. has a 1 year low of $214.53 and a 1 year high of $306.51. The firm’s 50-day moving average is $291.70 and its 200-day moving average is $289.57. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.80 and a current ratio of 1.33. The company has a market cap of $82.29 billion, a P/E ratio of 24.43, a PEG ratio of 1.60 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 earnings per share (EPS) 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 the consensus estimate of $11.46 billion. During the same period last year, the business posted $2.70 EPS. The company’s revenue for the quarter was up 18.0% on a year-over-year basis. On average, equities analysts expect 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 is Friday, October 11th. This represents a $5.68 annualized dividend and a dividend yield of 1.90%. General Dynamics’s dividend payout ratio is presently 46.33%.

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.