Sumitomo Mitsui DS Asset Management Company Ltd Grows Position in General Dynamics Co. (NYSE:GD)

Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in General Dynamics Co. (NYSE:GD) by 6.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 25,354 shares of the aerospace company’s stock after purchasing an additional 1,476 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in General Dynamics were worth $7,662,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. Heirloom Wealth Management lifted its position in shares of General Dynamics by 3.3% during the 3rd quarter. Heirloom Wealth Management now owns 17,906 shares of the aerospace company’s stock valued at $5,411,000 after buying an additional 566 shares in the last quarter. Trust Co. of Vermont lifted its holdings in General Dynamics by 1.0% in the 3rd quarter. Trust Co. of Vermont now owns 7,101 shares of the aerospace company’s stock valued at $2,146,000 after purchasing an additional 73 shares in the last quarter. Marshall Financial Group LLC acquired a new stake in shares of General Dynamics in the 3rd quarter worth $582,000. Bleakley Financial Group LLC increased its stake in shares of General Dynamics by 2.3% in the 3rd quarter. Bleakley Financial Group LLC now owns 6,808 shares of the aerospace company’s stock worth $2,057,000 after acquiring an additional 150 shares during the last quarter. Finally, Mitchell & Pahl Private Wealth LLC increased its position in shares of General Dynamics by 29.7% during the 3rd quarter. Mitchell & Pahl Private Wealth LLC now owns 9,238 shares of the aerospace company’s stock worth $2,791,000 after purchasing an additional 2,113 shares during the last quarter. Hedge funds and other institutional investors own 86.14% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on GD. TD Cowen upgraded General Dynamics to a “strong-buy” rating in a report on Tuesday, October 8th. BTIG Research assumed coverage on General Dynamics in a research report on Wednesday, June 26th. They set a “buy” rating and a $345.00 price target on the stock. Barclays lifted their price target on General Dynamics from $310.00 to $325.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. Seaport Res Ptn lowered General Dynamics from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 11th. Finally, Morgan Stanley raised General Dynamics from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $293.00 to $345.00 in a research report on Friday, August 9th. Seven analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $320.18.

General Dynamics Stock Up 0.1 %

GD opened at $308.42 on Friday. The company has a quick ratio of 0.80, a current ratio of 1.33 and a debt-to-equity ratio of 0.33. The firm has a market cap of $84.62 billion, a P/E ratio of 25.16, a PEG 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 business’s fifty day simple moving average is $299.34 and its 200 day simple moving average is $294.26.

General Dynamics (NYSE:GD) last issued its quarterly earnings results on Wednesday, July 24th. The aerospace company reported $3.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.30 by ($0.04). General Dynamics had a return on equity of 16.74% and a net margin of 7.89%. The business had revenue of $11.98 billion during the quarter, compared to analyst estimates of $11.46 billion. During the same period in the previous year, the business posted $2.70 earnings per share. The firm’s quarterly revenue was up 18.0% on a year-over-year basis. As a group, equities research analysts anticipate that General Dynamics Co. will post 14.38 EPS for the current fiscal year.

General Dynamics Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 11th will be issued a $1.42 dividend. The ex-dividend date is Friday, October 11th. This represents a $5.68 dividend on an annualized basis and a dividend yield of 1.84%. General Dynamics’s dividend payout ratio (DPR) is 46.33%.

Insider Transactions at General Dynamics

In other news, Director Peter A. Wall sold 1,320 shares of the firm’s 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 transaction, the director now directly owns 3,592 shares in the company, valued at $1,106,515.60. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 1.52% of the company’s stock.

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.