Anchor Investment Management LLC Acquires 192 Shares of General Dynamics Co. (NYSE:GD)

Anchor Investment Management LLC raised its position in shares of General Dynamics Co. (NYSE:GD) by 3.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,335 shares of the aerospace company’s stock after purchasing an additional 192 shares during the period. Anchor Investment Management LLC’s holdings in General Dynamics were worth $1,548,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of GD. Belpointe Asset Management LLC grew its holdings in General Dynamics by 11.4% during the fourth quarter. Belpointe Asset Management LLC now owns 1,569 shares of the aerospace company’s stock valued at $408,000 after purchasing an additional 160 shares during the period. CIBC Private Wealth Group LLC grew its holdings in General Dynamics by 3.2% during the fourth quarter. CIBC Private Wealth Group LLC now owns 11,294 shares of the aerospace company’s stock valued at $2,933,000 after purchasing an additional 354 shares during the period. Tower Research Capital LLC TRC grew its holdings in General Dynamics by 96.6% during the fourth quarter. Tower Research Capital LLC TRC now owns 25,970 shares of the aerospace company’s stock valued at $6,744,000 after purchasing an additional 12,763 shares during the period. Cetera Advisor Networks LLC grew its holdings in General Dynamics by 3.1% during the fourth quarter. Cetera Advisor Networks LLC now owns 61,454 shares of the aerospace company’s stock valued at $15,958,000 after purchasing an additional 1,871 shares during the period. Finally, Cibc World Markets Corp boosted its holdings in shares of General Dynamics by 94.9% in the fourth quarter. Cibc World Markets Corp now owns 34,505 shares of the aerospace company’s stock worth $8,960,000 after acquiring an additional 16,797 shares during the period. 86.14% of the stock is owned by institutional investors.

General Dynamics Trading Down 1.4 %

NYSE GD opened at $299.61 on Friday. The stock’s 50-day simple moving average is $297.07 and its two-hundred day simple moving average is $292.77. General Dynamics Co. has a twelve month low of $214.53 and a twelve month high of $309.97. The company has a quick ratio of 0.80, a current ratio of 1.33 and a debt-to-equity ratio of 0.33. The company has a market capitalization of $82.20 billion, a price-to-earnings ratio of 24.44, a PEG ratio of 1.68 and a beta of 0.61.

General Dynamics (NYSE:GD) last released its quarterly earnings results 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 net margin of 7.89% and a return on equity of 16.74%. The firm had revenue of $11.98 billion for the quarter, compared to analysts’ expectations of $11.46 billion. During the same quarter in the previous year, the business earned $2.70 EPS. The company’s revenue for the quarter was up 18.0% on a year-over-year basis. Research 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 paid a dividend of $1.42 per share. 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 1.90%. General Dynamics’s dividend payout ratio (DPR) is currently 46.33%.

Analysts Set New Price Targets

A number of research firms have recently commented on GD. Barclays raised their price target on General Dynamics from $310.00 to $325.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. Wells Fargo & Company lowered General Dynamics from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $334.00 to $317.00 in a report on Tuesday. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $320.00 price target on shares of General Dynamics in a report on Thursday, July 25th. Deutsche Bank Aktiengesellschaft cut their price target on General Dynamics from $320.00 to $314.00 and set a “hold” rating for the company in a report on Thursday. Finally, Morgan Stanley raised General Dynamics from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $293.00 to $345.00 in a report on Friday, August 9th. Six equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $317.06.

Insider Activity

In other news, Director Peter A. Wall sold 1,320 shares of the firm’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 transaction, the director now directly owns 3,592 shares of the company’s stock, valued at $1,106,515.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 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.