Chicago Partners Investment Group LLC Grows Position in General Dynamics Co. (NYSE:GD)

Chicago Partners Investment Group LLC grew its stake in General Dynamics Co. (NYSE:GD) by 17.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,803 shares of the aerospace company’s stock after purchasing an additional 270 shares during the period. Chicago Partners Investment Group LLC’s holdings in General Dynamics were worth $549,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. Whittier Trust Co. of Nevada Inc. lifted its position in shares of General Dynamics by 42.2% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 809 shares of the aerospace company’s stock valued at $229,000 after buying an additional 240 shares in the last quarter. Central Pacific Bank Trust Division purchased a new position in shares of General Dynamics during the 1st quarter valued at approximately $410,000. Rehmann Capital Advisory Group raised its stake in General Dynamics by 6.0% in the 1st quarter. Rehmann Capital Advisory Group now owns 2,035 shares of the aerospace company’s stock valued at $575,000 after purchasing an additional 116 shares during the last quarter. Larson Financial Group LLC raised its stake in General Dynamics by 127.0% in the 1st quarter. Larson Financial Group LLC now owns 883 shares of the aerospace company’s stock valued at $249,000 after purchasing an additional 494 shares during the last quarter. Finally, Mediolanum International Funds Ltd acquired a new position in General Dynamics in the 1st quarter valued at $8,755,000. Hedge funds and other institutional investors own 86.14% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on GD. Susquehanna increased their price objective on General Dynamics from $333.00 to $352.00 and gave the company a “positive” rating in a research note on Thursday, October 17th. Citigroup increased their price objective on General Dynamics from $331.00 to $354.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. TD Cowen raised General Dynamics to a “strong-buy” rating in a research note on Tuesday, October 8th. Barclays increased their price objective on General Dynamics from $325.00 to $330.00 and gave the company an “overweight” rating in a research note on Tuesday, October 29th. Finally, Wells Fargo & Company raised their target price on General Dynamics from $317.00 to $322.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 24th. Seven equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $323.69.

General Dynamics Stock Up 0.2 %

Shares of NYSE:GD opened at $293.60 on Tuesday. The business has a 50-day moving average price of $300.88 and a 200 day moving average price of $295.23. The company has a current ratio of 1.32, a quick ratio of 0.80 and a debt-to-equity ratio of 0.32. The company has a market capitalization of $80.73 billion, a price-to-earnings ratio of 22.36, a PEG ratio of 1.75 and a beta of 0.61. General Dynamics Co. has a 12-month low of $238.31 and a 12-month high of $313.11.

General Dynamics (NYSE:GD) last issued its quarterly earnings data 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 business had revenue of $11.67 billion for the quarter, compared to analyst estimates of $11.65 billion. General Dynamics had a return on equity of 16.59% and a net margin of 7.90%. The firm’s revenue for the quarter was up 10.4% compared to the same quarter last year. During the same period in the previous year, the business posted $3.04 earnings per share. Sell-side analysts expect that General Dynamics Co. will post 13.97 EPS for the current year.

General Dynamics Dividend Announcement

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 given a $1.42 dividend. This represents a $5.68 annualized dividend and a yield of 1.93%. The ex-dividend date is Friday, October 11th. General Dynamics’s dividend payout ratio is currently 43.26%.

Insider Buying and Selling at General Dynamics

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 value 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 position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 1.52% of the stock is currently owned by corporate insiders.

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.