Massachusetts Financial Services Co. MA Buys 293,316 Shares of General Dynamics Co. (NYSE:GD)

Massachusetts Financial Services Co. MA lifted its stake in General Dynamics Co. (NYSE:GD) by 4.0% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,639,758 shares of the aerospace company’s stock after buying an additional 293,316 shares during the quarter. General Dynamics comprises 0.7% of Massachusetts Financial Services Co. MA’s portfolio, making the stock its 29th biggest holding. Massachusetts Financial Services Co. MA owned 2.78% of General Dynamics worth $2,216,599,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Modera Wealth Management LLC raised its holdings in General Dynamics by 0.4% during the second quarter. Modera Wealth Management LLC now owns 8,120 shares of the aerospace company’s stock valued at $2,356,000 after acquiring an additional 35 shares during the period. Rathbones Group PLC raised its stake in General Dynamics by 1.8% during the 2nd quarter. Rathbones Group PLC now owns 2,022 shares of the aerospace company’s stock valued at $587,000 after purchasing an additional 35 shares during the period. Legend Financial Advisors Inc. lifted its holdings in General Dynamics by 46.8% in the 1st quarter. Legend Financial Advisors Inc. now owns 113 shares of the aerospace company’s stock worth $32,000 after purchasing an additional 36 shares in the last quarter. Diversified Trust Co boosted its stake in General Dynamics by 2.5% in the 1st quarter. Diversified Trust Co now owns 1,503 shares of the aerospace company’s stock worth $425,000 after purchasing an additional 36 shares during the period. Finally, Fulton Bank N.A. grew its holdings in General Dynamics by 1.1% during the 1st quarter. Fulton Bank N.A. now owns 3,299 shares of the aerospace company’s stock valued at $932,000 after buying an additional 37 shares in the last quarter. 86.14% of the stock is owned by hedge funds and other institutional investors.

General Dynamics Price Performance

GD stock opened at $304.80 on Monday. The stock has a market cap of $83.63 billion, a PE ratio of 24.86, a P/E/G ratio of 1.64 and a beta of 0.61. General Dynamics Co. has a 12 month low of $214.53 and a 12 month high of $306.51. The company has a 50-day moving average price of $292.48 and a 200 day moving average price of $290.09. The company has a current ratio of 1.33, a quick ratio of 0.80 and a debt-to-equity ratio of 0.33.

General Dynamics (NYSE:GD) last announced 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). General Dynamics had a net margin of 7.89% and a return on equity of 16.74%. The business had revenue of $11.98 billion for the quarter, compared to analysts’ expectations of $11.46 billion. During the same quarter last year, the firm earned $2.70 EPS. The firm’s quarterly revenue was up 18.0% on a year-over-year basis. Equities research analysts anticipate that General Dynamics Co. will post 14.52 earnings per share for the current 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. The ex-dividend date is Friday, October 11th. This represents a $5.68 annualized dividend and a dividend yield of 1.86%. General Dynamics’s dividend payout ratio (DPR) is 46.33%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on GD. Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of General Dynamics in a research report on Monday, July 29th. Robert W. Baird reissued an “outperform” rating and set a $345.00 price objective on shares of General Dynamics in a report on Tuesday, July 2nd. Wells Fargo & Company lifted their target price on General Dynamics from $330.00 to $334.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. Barclays increased their price target on General Dynamics from $310.00 to $325.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. Finally, Morgan Stanley raised General Dynamics from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $293.00 to $345.00 in a report on Friday, August 9th. Six analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, General Dynamics presently has a consensus rating of “Moderate Buy” and a consensus price target of $315.06.

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.