General Dynamics Co. (NYSE:GD) Shares Purchased by Quantbot Technologies LP

Quantbot Technologies LP grew its stake in shares of General Dynamics Co. (NYSE:GD) by 121.7% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 17,526 shares of the aerospace company’s stock after purchasing an additional 9,621 shares during the period. Quantbot Technologies LP’s holdings in General Dynamics were worth $5,085,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Richardson Financial Services Inc. acquired a new stake in shares of General Dynamics during the 4th quarter valued at approximately $25,000. Redmont Wealth Advisors LLC purchased a new position in shares of General Dynamics in the first quarter valued at $25,000. Financial Synergies Wealth Advisors Inc. acquired a new stake in General Dynamics in the 1st quarter valued at about $29,000. New Covenant Trust Company N.A. acquired a new position in General Dynamics during the first quarter worth about $29,000. Finally, American Capital Advisory LLC purchased a new stake in shares of General Dynamics in the second quarter valued at about $29,000. 86.14% of the stock is owned by institutional investors and hedge funds.

General Dynamics Stock Up 1.4 %

NYSE GD opened at $304.80 on Monday. 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 Co. has a fifty-two week low of $214.53 and a fifty-two week high of $306.51. The business has a 50 day moving average price of $292.48 and a two-hundred day moving average price of $290.09. 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 (NYSE:GD) last released its quarterly 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). The firm had revenue of $11.98 billion for the quarter, compared to analysts’ expectations of $11.46 billion. General Dynamics had a return on equity of 16.74% and a net margin of 7.89%. The business’s quarterly revenue was up 18.0% on a year-over-year basis. During the same period last year, the firm earned $2.70 EPS. As a group, sell-side analysts predict that General Dynamics Co. will post 14.52 EPS for the current fiscal year.

General Dynamics Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, October 11th will be paid a dividend of $1.42 per share. The ex-dividend date is Friday, October 11th. This represents a $5.68 dividend on an annualized basis and a yield of 1.86%. General Dynamics’s dividend payout ratio (DPR) is 46.33%.

Analysts Set New Price Targets

GD has been the topic of a number of recent research reports. Royal Bank of Canada reiterated an “outperform” rating and set a $320.00 target price on shares of General Dynamics in a report on Thursday, July 25th. Morgan Stanley upgraded General Dynamics from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $293.00 to $345.00 in a report on Friday, August 9th. BTIG Research started coverage on General Dynamics in a report on Wednesday, June 26th. They set a “buy” rating and a $345.00 price objective on the stock. Barclays increased their target price on General Dynamics from $310.00 to $325.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. Finally, Wells Fargo & Company upped their price objective on shares of General Dynamics from $330.00 to $334.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. Six investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, General Dynamics has a consensus rating of “Moderate Buy” and an average target price 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.