Teachers Retirement System of The State of Kentucky raised its holdings in shares of General Dynamics Co. (NYSE:GD – Free Report) by 11.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 55,551 shares of the aerospace company’s stock after acquiring an additional 5,786 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in General Dynamics were worth $16,118,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors have also recently made changes to their positions in GD. Redmont Wealth Advisors LLC purchased a new position in shares of General Dynamics in the 1st quarter worth $25,000. Richardson Financial Services Inc. purchased a new stake in shares of General Dynamics in the fourth quarter worth approximately $25,000. American Capital Advisory LLC bought a new stake in shares of General Dynamics during the second quarter worth $29,000. Financial Synergies Wealth Advisors Inc. bought a new position in General Dynamics in the first quarter worth approximately $29,000. Finally, New Covenant Trust Company N.A. bought a new stake in shares of General Dynamics in the first quarter valued at about $29,000. Institutional investors own 86.14% of the company’s stock.
Insider Buying and Selling
In other General Dynamics news, Director Peter A. Wall sold 1,320 shares of General Dynamics stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $308.05, for a total transaction of $406,626.00. Following the sale, the director now directly owns 3,592 shares in the company, valued at approximately $1,106,515.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.52% of the stock is currently owned by corporate insiders.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently weighed in on the company. Wells Fargo & Company downgraded General Dynamics from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $334.00 to $317.00 in a research report on Tuesday. Royal Bank of Canada reiterated an “outperform” rating and set a $320.00 price target on shares of General Dynamics in a research note on Thursday, July 25th. Barclays raised their target price on shares of General Dynamics from $310.00 to $325.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of General Dynamics in a report on Monday, July 29th. Finally, Morgan Stanley upgraded General Dynamics from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $293.00 to $345.00 in a research report on Friday, August 9th. Six analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $317.41.
General Dynamics Stock Performance
NYSE GD opened at $305.32 on Wednesday. General Dynamics Co. has a fifty-two week low of $214.53 and a fifty-two week high of $309.97. The stock has a market cap of $83.77 billion, a price-to-earnings ratio of 24.90, a price-to-earnings-growth ratio of 1.68 and a beta of 0.61. The business has a fifty day moving average of $296.51 and a 200-day moving average of $292.64. The company has a quick ratio of 0.80, a current ratio of 1.33 and a debt-to-equity ratio of 0.33.
General Dynamics (NYSE:GD – Get Free Report) last issued its earnings results on Wednesday, July 24th. The aerospace company reported $3.26 earnings per share for the quarter, missing analysts’ consensus estimates of $3.30 by ($0.04). The firm had revenue of $11.98 billion during the quarter, compared to analyst estimates of $11.46 billion. General Dynamics had a net margin of 7.89% and a return on equity of 16.74%. General Dynamics’s revenue was up 18.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.70 EPS. As a group, analysts predict that General Dynamics Co. will post 14.52 earnings per share 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. Investors of record on Friday, October 11th will be given a dividend of $1.42 per share. This represents a $5.68 annualized dividend and a yield of 1.86%. The ex-dividend date is Friday, October 11th. General Dynamics’s dividend payout ratio (DPR) is presently 46.33%.
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.