Whitener Capital Management Inc. Increases Holdings in General Dynamics Co. (NYSE:GD)

Whitener Capital Management Inc. raised its stake in shares of General Dynamics Co. (NYSE:GD) by 1.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 3,530 shares of the aerospace company’s stock after buying an additional 50 shares during the period. Whitener Capital Management Inc.’s holdings in General Dynamics were worth $1,066,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. International Assets Investment Management LLC increased its stake in shares of General Dynamics by 40,389.3% in the 3rd quarter. International Assets Investment Management LLC now owns 1,379,472 shares of the aerospace company’s stock worth $416,876,000 after purchasing an additional 1,376,065 shares in the last quarter. 1832 Asset Management L.P. increased its stake in shares of General Dynamics by 2,189.3% in the 2nd quarter. 1832 Asset Management L.P. now owns 374,207 shares of the aerospace company’s stock worth $108,572,000 after purchasing an additional 357,861 shares in the last quarter. Public Employees Retirement Association of Colorado increased its stake in shares of General Dynamics by 879.9% in the 1st quarter. Public Employees Retirement Association of Colorado now owns 340,359 shares of the aerospace company’s stock worth $96,148,000 after purchasing an additional 305,624 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in shares of General Dynamics by 4.0% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 7,639,758 shares of the aerospace company’s stock worth $2,216,599,000 after purchasing an additional 293,316 shares in the last quarter. Finally, Hsbc Holdings PLC increased its stake in shares of General Dynamics by 24.2% in the 2nd quarter. Hsbc Holdings PLC now owns 1,347,247 shares of the aerospace company’s stock worth $391,119,000 after purchasing an additional 262,164 shares in the last quarter. 86.14% of the stock is currently owned by hedge funds and other institutional investors.

General Dynamics Stock Up 0.5 %

GD opened at $292.99 on Friday. The firm has a 50-day simple moving average of $300.83 and a two-hundred day simple moving average of $295.10. General Dynamics Co. has a 52 week low of $238.31 and a 52 week high of $313.11. The company has a market capitalization of $80.56 billion, a PE ratio of 22.31, a price-to-earnings-growth ratio of 1.75 and a beta of 0.61. The company has a quick ratio of 0.80, a current ratio of 1.32 and a debt-to-equity ratio of 0.32.

General Dynamics (NYSE:GD) last announced its quarterly earnings results on Wednesday, October 23rd. The aerospace company reported $3.35 EPS for the quarter, missing analysts’ consensus estimates of $3.48 by ($0.13). General Dynamics had a net margin of 7.90% and a return on equity of 16.59%. The business had revenue of $11.67 billion during the quarter, compared to the consensus estimate of $11.65 billion. During the same period in the previous year, the business posted $3.04 EPS. The firm’s revenue was up 10.4% on a year-over-year basis. Analysts forecast that General Dynamics Co. will post 13.97 earnings per share for the current fiscal year.

General Dynamics Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, October 11th will be issued a $1.42 dividend. This represents a $5.68 dividend on an annualized basis and a dividend yield of 1.94%. The ex-dividend date is Friday, October 11th. General Dynamics’s payout ratio is 43.26%.

Insider Activity at General Dynamics

In related news, Director Peter A. Wall sold 1,320 shares of the stock in a transaction dated Monday, September 16th. The shares were 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 owns 3,592 shares of the company’s stock, valued at approximately $1,106,515.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.52% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on GD shares. Deutsche Bank Aktiengesellschaft reduced their price objective on General Dynamics from $309.00 to $306.00 and set a “hold” rating for the company in a research note on Friday. Seaport Res Ptn lowered General Dynamics from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 11th. Royal Bank of Canada increased their price target on General Dynamics from $320.00 to $330.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Morgan Stanley upgraded General Dynamics from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $293.00 to $345.00 in a research note on Friday, August 9th. Finally, TD Cowen upgraded General Dynamics to a “strong-buy” rating in a research note on Tuesday, October 8th. Seven research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $323.69.

General Dynamics Company 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.