AGF Management Ltd. Has $2.92 Million Stock Position in General Dynamics Co. (NYSE:GD)

AGF Management Ltd. cut its stake in shares of General Dynamics Co. (NYSE:GD) by 11.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,050 shares of the aerospace company’s stock after selling 1,297 shares during the period. AGF Management Ltd.’s holdings in General Dynamics were worth $2,916,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in GD. Richardson Financial Services Inc. bought a new stake in shares of General Dynamics in the 4th quarter valued at about $25,000. Redmont Wealth Advisors LLC bought a new stake in General Dynamics in the first quarter valued at approximately $25,000. Financial Synergies Wealth Advisors Inc. bought a new stake in General Dynamics in the first quarter valued at approximately $29,000. New Covenant Trust Company N.A. acquired a new stake in General Dynamics in the first quarter worth $29,000. Finally, American Capital Advisory LLC bought a new position in shares of General Dynamics during the second quarter worth $29,000. Institutional investors own 86.14% of the company’s stock.

General Dynamics Stock Performance

Shares of NYSE GD opened at $300.72 on Friday. The stock has a market capitalization of $82.63 billion, a PE ratio of 24.53, a price-to-earnings-growth ratio of 1.60 and a beta of 0.61. General Dynamics Co. has a 52 week low of $214.53 and a 52 week high of $306.51. The stock has a 50 day moving average price of $292.01 and a 200 day moving average price of $289.65. 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 released its quarterly earnings data on Wednesday, July 24th. The aerospace company reported $3.26 EPS for the quarter, missing the consensus estimate of $3.30 by ($0.04). General Dynamics had a net margin of 7.89% and a return on equity of 16.74%. 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 posted $2.70 EPS. The company’s quarterly revenue was up 18.0% compared to the same quarter last year. Analysts predict that General Dynamics Co. will post 14.52 earnings per share for the current fiscal year.

General Dynamics Dividend Announcement

The company also recently announced 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 dividend on an annualized basis and a dividend yield of 1.89%. General Dynamics’s payout ratio is 46.33%.

Analyst Ratings Changes

Several analysts recently commented on the company. BTIG Research assumed coverage on General Dynamics in a research note on Wednesday, June 26th. They set a “buy” rating and a $345.00 price objective on the stock. Wells Fargo & Company raised their price target on General Dynamics from $330.00 to $334.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. Robert W. Baird reiterated an “outperform” rating and issued a $345.00 price objective on shares of General Dynamics in a research report on Tuesday, July 2nd. Morgan Stanley raised General Dynamics from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $293.00 to $345.00 in a research note on Friday, August 9th. Finally, Barclays lifted their price target 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. Six investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $315.06.

General Dynamics 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.