IFM Investors Pty Ltd Has $7.21 Million Stake in General Dynamics Co. (NYSE:GD)

IFM Investors Pty Ltd decreased its position in shares of General Dynamics Co. (NYSE:GD) by 1.0% during the 3rd quarter, HoldingsChannel reports. The fund owned 23,869 shares of the aerospace company’s stock after selling 250 shares during the period. IFM Investors Pty Ltd’s holdings in General Dynamics were worth $7,213,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Coston McIsaac & Partners lifted its holdings in General Dynamics by 22.8% during the 3rd quarter. Coston McIsaac & Partners now owns 178 shares of the aerospace company’s stock worth $53,000 after buying an additional 33 shares during the period. Global X Japan Co. Ltd. lifted its holdings in General Dynamics by 2.3% during the 3rd quarter. Global X Japan Co. Ltd. now owns 1,482 shares of the aerospace company’s stock worth $448,000 after buying an additional 33 shares during the period. Grove Bank & Trust lifted its holdings in General Dynamics by 10.6% during the 3rd quarter. Grove Bank & Trust now owns 354 shares of the aerospace company’s stock worth $107,000 after buying an additional 34 shares during the period. Modera Wealth Management LLC lifted its holdings in General Dynamics by 0.4% during the 2nd quarter. Modera Wealth Management LLC now owns 8,120 shares of the aerospace company’s stock worth $2,356,000 after buying an additional 35 shares during the period. Finally, Rathbones Group PLC lifted its holdings in General Dynamics by 1.8% during the 2nd quarter. Rathbones Group PLC now owns 2,022 shares of the aerospace company’s stock worth $587,000 after buying an additional 35 shares during the period. Institutional investors and hedge funds own 86.14% of the company’s stock.

Insider Transactions at General Dynamics

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 stock was sold at an average price of $308.05, for a total value of $406,626.00. Following the transaction, the director now owns 3,592 shares in the company, valued at $1,106,515.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.52% of the company’s stock.

Analyst Upgrades and Downgrades

GD has been the topic of several recent research reports. Robert W. Baird reaffirmed an “outperform” rating and set a $345.00 target price on shares of General Dynamics in a report on Tuesday, July 2nd. Morgan Stanley raised General Dynamics from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $293.00 to $345.00 in a research report on Friday, August 9th. Wells Fargo & Company lifted their price objective on General Dynamics from $317.00 to $322.00 and gave the stock an “equal weight” rating in a research report on Thursday. TD Cowen raised General Dynamics to a “strong-buy” rating in a research report on Tuesday, October 8th. Finally, Susquehanna lifted their price objective on General Dynamics from $333.00 to $352.00 and gave the stock a “positive” rating in a research report on Thursday, October 17th. Seven equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, General Dynamics currently has an average rating of “Moderate Buy” and a consensus target price of $323.88.

General Dynamics Price Performance

GD stock opened at $302.52 on Friday. The company has a market capitalization of $83.00 billion, a P/E ratio of 24.68, a price-to-earnings-growth ratio of 1.67 and a beta of 0.61. 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 52-week low of $236.58 and a 52-week high of $313.11. The business has a 50-day simple moving average of $300.28 and a two-hundred day simple moving average of $294.60.

General Dynamics (NYSE:GD) last released its quarterly earnings results on Wednesday, October 23rd. The aerospace company reported $3.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.48 by ($0.13). The company had revenue of $11.67 billion for the quarter, compared to analyst estimates of $11.65 billion. General Dynamics had a net margin of 7.89% and a return on equity of 16.74%. General Dynamics’s revenue for the quarter was up 10.4% on a year-over-year basis. During the same quarter last year, the firm posted $3.04 EPS. Research analysts expect that General Dynamics Co. will post 14.38 EPS for the current fiscal year.

General Dynamics Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, October 11th will be paid a dividend of $1.42 per share. The ex-dividend date is Friday, October 11th. This represents a $5.68 dividend on an annualized basis and a yield of 1.88%. General Dynamics’s dividend payout ratio (DPR) is currently 46.33%.

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.