Saratoga Research & Investment Management Has $73.13 Million Stock Position in General Dynamics Co. (NYSE:GD)

Saratoga Research & Investment Management reduced its stake in shares of General Dynamics Co. (NYSE:GD) by 3.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 252,054 shares of the aerospace company’s stock after selling 8,177 shares during the quarter. General Dynamics accounts for approximately 3.3% of Saratoga Research & Investment Management’s holdings, making the stock its 13th biggest position. Saratoga Research & Investment Management owned 0.09% of General Dynamics worth $73,131,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of GD. Quarry LP grew its holdings in shares of General Dynamics by 85.0% during the 2nd quarter. Quarry LP now owns 283 shares of the aerospace company’s stock worth $82,000 after purchasing an additional 130 shares in the last quarter. NewEdge Advisors LLC lifted its position in shares of General Dynamics by 19.5% during the 2nd quarter. NewEdge Advisors LLC now owns 38,038 shares of the aerospace company’s stock worth $11,036,000 after buying an additional 6,205 shares during the period. Creative Planning boosted its stake in General Dynamics by 4.6% in the 2nd quarter. Creative Planning now owns 45,042 shares of the aerospace company’s stock valued at $13,068,000 after buying an additional 1,988 shares in the last quarter. Susquehanna International Securities Ltd. acquired a new position in General Dynamics during the second quarter worth $435,000. Finally, Kathmere Capital Management LLC lifted its holdings in shares of General Dynamics by 4.2% during the second quarter. Kathmere Capital Management LLC now owns 3,242 shares of the aerospace company’s stock valued at $941,000 after acquiring an additional 130 shares during the period. 86.14% of the stock is currently owned by institutional investors and hedge funds.

General Dynamics Stock Performance

Shares of GD stock opened at $300.13 on Monday. The firm has a market cap of $82.34 billion, a PE ratio of 24.48, a P/E/G ratio of 1.68 and a beta of 0.61. The company’s fifty day simple moving average is $296.08 and its 200-day simple moving average is $292.24. The company has a quick ratio of 0.80, a current ratio of 1.33 and a debt-to-equity ratio of 0.33. General Dynamics Co. has a 12 month low of $214.53 and a 12 month high of $309.97.

General Dynamics (NYSE:GD) last issued its earnings results on Wednesday, July 24th. The aerospace company reported $3.26 EPS for the quarter, missing the consensus estimate of $3.30 by ($0.04). The business had revenue of $11.98 billion for the quarter, compared to the consensus estimate of $11.46 billion. General Dynamics had a return on equity of 16.74% and a net margin of 7.89%. The business’s revenue was up 18.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.70 earnings per share. Equities research analysts expect that General Dynamics Co. will post 14.52 EPS for the current fiscal year.

General Dynamics Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, October 11th will be issued a $1.42 dividend. This represents a $5.68 dividend on an annualized basis and a dividend yield of 1.89%. The ex-dividend date of this dividend is Friday, October 11th. General Dynamics’s dividend payout ratio is presently 46.33%.

Analysts Set New Price Targets

GD has been the subject of several analyst reports. Wells Fargo & Company lifted their price target on shares of General Dynamics from $330.00 to $334.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Royal Bank of Canada reissued an “outperform” rating and issued a $320.00 target price on shares of General Dynamics in a report on Thursday, July 25th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of General Dynamics in a research report on Monday, July 29th. Morgan Stanley upgraded shares of General Dynamics from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $293.00 to $345.00 in a research report on Friday, August 9th. Finally, BTIG Research assumed coverage on shares of General Dynamics in a research report on Wednesday, June 26th. They set a “buy” rating and a $345.00 target price on the stock. Five equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, General Dynamics has an average rating of “Moderate Buy” and a consensus target price of $318.41.

Insider Activity

In other news, Director Peter A. Wall sold 1,320 shares of the business’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $308.05, for a total transaction of $406,626.00. Following the sale, the director now directly owns 3,592 shares in the company, valued at $1,106,515.60. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 1.52% of the company’s stock.

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.