Grimes & Company Inc. Has $299,000 Position in General Dynamics Co. (NYSE:GD)

Grimes & Company Inc. boosted its stake in General Dynamics Co. (NYSE:GD) by 5.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 988 shares of the aerospace company’s stock after purchasing an additional 53 shares during the period. Grimes & Company Inc.’s holdings in General Dynamics were worth $299,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Massachusetts Financial Services Co. MA boosted its holdings in shares of General Dynamics by 4.0% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 7,639,758 shares of the aerospace company’s stock valued at $2,216,599,000 after acquiring an additional 293,316 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of General Dynamics by 2.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 4,782,612 shares of the aerospace company’s stock worth $1,351,041,000 after purchasing an additional 115,063 shares during the last quarter. Ameriprise Financial Inc. increased its stake in shares of General Dynamics by 2.4% in the second quarter. Ameriprise Financial Inc. now owns 2,071,803 shares of the aerospace company’s stock valued at $601,756,000 after buying an additional 47,915 shares during the period. Boston Partners raised its holdings in General Dynamics by 1.4% in the 1st quarter. Boston Partners now owns 1,680,666 shares of the aerospace company’s stock valued at $474,927,000 after buying an additional 23,262 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its position in General Dynamics by 1.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,606,289 shares of the aerospace company’s stock worth $466,049,000 after buying an additional 23,304 shares during the period. Institutional investors and hedge funds own 86.14% of the company’s stock.

General Dynamics Stock Down 1.0 %

GD stock opened at $301.27 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. General Dynamics Co. has a fifty-two week low of $236.58 and a fifty-two week high of $313.11. The stock’s 50 day simple moving average is $300.17 and its 200 day simple moving average is $294.55. The company has a market cap of $82.66 billion, a P/E ratio of 24.57, a price-to-earnings-growth ratio of 1.67 and a beta of 0.61.

General Dynamics (NYSE:GD) last issued its earnings results on Wednesday, October 23rd. The aerospace company reported $3.35 earnings per share for the quarter, missing analysts’ consensus estimates of $3.48 by ($0.13). General Dynamics had a return on equity of 16.74% and a net margin of 7.89%. The firm had revenue of $11.67 billion for the quarter, compared to analyst estimates of $11.65 billion. During the same period in the previous year, the company earned $3.04 earnings per share. General Dynamics’s revenue for the quarter was up 10.4% compared to the same quarter last year. On average, research analysts expect that General Dynamics Co. will post 14.38 earnings per share 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. Stockholders of record on Friday, October 11th will be given a dividend of $1.42 per share. This represents a $5.68 annualized dividend and a dividend yield of 1.89%. The ex-dividend date is Friday, October 11th. General Dynamics’s payout ratio is presently 46.33%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on GD shares. Royal Bank of Canada raised their price target on shares of General Dynamics from $320.00 to $330.00 and gave the company an “outperform” rating in a research note on Thursday. Citigroup lifted their target price on General Dynamics from $331.00 to $354.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Sanford C. Bernstein lowered their price objective on General Dynamics from $343.00 to $331.00 and set a “market perform” rating for the company in a research report on Thursday. Robert W. Baird reiterated an “outperform” rating and issued a $345.00 target price on shares of General Dynamics in a report on Tuesday, July 2nd. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on shares of General Dynamics from $320.00 to $314.00 and set a “hold” rating for the company in a report on Thursday, October 3rd. Seven investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, General Dynamics presently has a consensus rating of “Moderate Buy” and a consensus target price of $323.88.

Insider Buying and Selling

In other General Dynamics news, Director Peter A. Wall sold 1,320 shares of General Dynamics 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 completion of the transaction, the director now owns 3,592 shares in the company, valued at approximately $1,106,515.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.52% of the stock is currently owned by company insiders.

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.