General Dynamics Co. (NYSE:GD) Shares Acquired by NEXT Financial Group Inc

NEXT Financial Group Inc lifted its holdings in shares of General Dynamics Co. (NYSE:GD) by 454.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 266 shares of the aerospace company’s stock after buying an additional 218 shares during the quarter. NEXT Financial Group Inc’s holdings in General Dynamics were worth $48,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Virtu Financial LLC increased its position in shares of General Dynamics by 63.0% during the first quarter. Virtu Financial LLC now owns 8,155 shares of the aerospace company’s stock worth $1,380,000 after purchasing an additional 3,151 shares in the last quarter. Weiss Asset Management LP purchased a new stake in shares of General Dynamics during the first quarter worth approximately $205,000. Primecap Management Co. CA increased its position in shares of General Dynamics by 0.4% during the first quarter. Primecap Management Co. CA now owns 700,990 shares of the aerospace company’s stock worth $118,664,000 after purchasing an additional 3,000 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. increased its position in shares of General Dynamics by 28.0% during the first quarter. Meiji Yasuda Asset Management Co Ltd. now owns 9,653 shares of the aerospace company’s stock worth $1,634,000 after purchasing an additional 2,110 shares in the last quarter. Finally, Private Advisor Group LLC grew its holdings in General Dynamics by 5.3% in the 1st quarter. Private Advisor Group LLC now owns 19,028 shares of the aerospace company’s stock valued at $3,227,000 after buying an additional 965 shares in the last quarter. 86.79% of the stock is owned by institutional investors and hedge funds.

Shares of General Dynamics stock opened at $184.10 on Friday. General Dynamics Co. has a 52 week low of $143.87 and a 52 week high of $207.72. The company has a fifty day simple moving average of $183.08. The firm has a market cap of $53.20 billion, a price-to-earnings ratio of 16.12, a PEG ratio of 1.78 and a beta of 1.21. The company has a current ratio of 1.09, a quick ratio of 0.73 and a debt-to-equity ratio of 0.70.

General Dynamics (NYSE:GD) last announced its quarterly earnings results on Wednesday, July 24th. The aerospace company reported $2.77 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.68 by $0.09. General Dynamics had a return on equity of 26.81% and a net margin of 8.65%. The business had revenue of $9.56 billion for the quarter, compared to analyst estimates of $9.36 billion. During the same quarter in the prior year, the company posted $2.82 EPS. The company’s quarterly revenue was up 4.0% on a year-over-year basis. On average, research analysts expect that General Dynamics Co. will post 11.83 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, October 11th will be paid a dividend of $1.02 per share. This represents a $4.08 annualized dividend and a yield of 2.22%. The ex-dividend date of this dividend is Thursday, October 10th. General Dynamics’s payout ratio is 35.73%.

Several analysts have issued reports on GD shares. ValuEngine upgraded General Dynamics from a “sell” rating to a “hold” rating in a report on Thursday, June 6th. UBS Group upped their target price on General Dynamics from $175.00 to $190.00 and gave the company a “neutral” rating in a report on Thursday, April 25th. Robert W. Baird upped their target price on General Dynamics from $188.00 to $218.00 and gave the company an “outperform” rating in a report on Wednesday, July 10th. Morgan Stanley upped their target price on General Dynamics from $170.00 to $171.00 and gave the company an “underweight” rating in a report on Friday, June 14th. Finally, JPMorgan Chase & Co. upgraded General Dynamics from an “underweight” rating to a “neutral” rating and upped their target price for the company from $188.00 to $200.00 in a report on Thursday, April 25th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and seven have assigned a buy rating to the company’s stock. General Dynamics presently has an average rating of “Hold” and an average price target of $191.35.

In other General Dynamics news, Director William A. Osborn sold 1,500 shares of the stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $182.56, for a total value of $273,840.00. Following the sale, the director now owns 37,585 shares of the company’s stock, valued at approximately $6,861,517.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Gary L. Whited sold 14,029 shares of the stock in a transaction dated Tuesday, July 30th. The shares were sold at an average price of $188.38, for a total value of $2,642,783.02. Following the completion of the sale, the vice president now directly owns 37,542 shares in the company, valued at approximately $7,072,161.96. The disclosure for this sale can be found here. 7.10% of the stock is currently owned by corporate insiders.

General Dynamics Profile

General Dynamics Corporation operates as an aerospace and defense company worldwide. It operates in five segments: Aerospace, Combat Systems, Information Technology, Mission Systems, and Marine Systems. The Aerospace segment designs, manufactures, and supports business-jet aircraft; and offers business-aviation services, including maintenance, fixed-base operation, government fleet, aircraft management, charter, and staffing services, as well as integrated aviation solutions.

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Institutional Ownership by Quarter for General Dynamics (NYSE:GD)

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