Bleakley Financial Group LLC Boosts Stake in General Dynamics Co. (NYSE:GD)

Bleakley Financial Group LLC grew its stake in shares of General Dynamics Co. (NYSE:GD) by 2.3% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 6,808 shares of the aerospace company’s stock after buying an additional 150 shares during the quarter. Bleakley Financial Group LLC’s holdings in General Dynamics were worth $2,057,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in GD. Redmont Wealth Advisors LLC purchased a new position in General Dynamics in the 1st quarter worth $25,000. Financial Synergies Wealth Advisors Inc. purchased a new position in General Dynamics in the 1st quarter worth $29,000. New Covenant Trust Company N.A. purchased a new position in General Dynamics in the 1st quarter worth $29,000. American Capital Advisory LLC purchased a new position in General Dynamics in the 2nd quarter worth $29,000. Finally, Lowe Wealth Advisors LLC purchased a new position in General Dynamics in the 3rd quarter worth $30,000. Hedge funds and other institutional investors own 86.14% of the company’s stock.

General Dynamics Stock Up 0.1 %

Shares of General Dynamics stock opened at $308.48 on Friday. 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 stock has a market capitalization of $84.64 billion, a PE ratio of 25.16, a price-to-earnings-growth ratio of 1.67 and a beta of 0.61. General Dynamics Co. has a 52-week low of $232.29 and a 52-week high of $310.58. The company has a 50-day simple moving average of $299.34 and a two-hundred day simple moving average of $294.29.

General Dynamics (NYSE:GD) last issued its 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). The firm had revenue of $11.98 billion during the quarter, compared to analysts’ expectations of $11.46 billion. General Dynamics had a return on equity of 16.74% and a net margin of 7.89%. The firm’s quarterly revenue was up 18.0% on a year-over-year basis. During the same period last year, the firm posted $2.70 earnings per share. On average, analysts anticipate that General Dynamics Co. will post 14.38 EPS for the current fiscal year.

General Dynamics Announces Dividend

The company 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. The ex-dividend date of this dividend is Friday, October 11th. This represents a $5.68 annualized dividend and a yield of 1.84%. General Dynamics’s dividend payout ratio (DPR) is presently 46.33%.

Insiders Place Their Bets

In other news, Director Peter A. Wall sold 1,320 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $308.05, for a total transaction of $406,626.00. Following the completion of the transaction, the director now directly owns 3,592 shares of the company’s stock, valued at $1,106,515.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.52% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on GD. Susquehanna raised their price target on shares of General Dynamics from $333.00 to $352.00 and gave the stock a “positive” rating in a report on Thursday. Morgan Stanley raised shares of 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. Barclays raised their price target on shares of General Dynamics from $310.00 to $325.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. Citigroup raised their price target on shares of General Dynamics from $331.00 to $354.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Finally, BTIG Research started coverage on shares of General Dynamics in a research note on Wednesday, June 26th. They set a “buy” rating and a $345.00 target price on the stock. Seven investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $320.18.

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.