General Dynamics Co. (NYSE:GD) Shares Acquired by Hsbc Holdings PLC

Hsbc Holdings PLC increased its position in shares of General Dynamics Co. (NYSE:GD) by 24.2% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,347,247 shares of the aerospace company’s stock after buying an additional 262,164 shares during the quarter. Hsbc Holdings PLC owned about 0.49% of General Dynamics worth $391,119,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Redmont Wealth Advisors LLC purchased a new position in shares of General Dynamics during the first quarter worth about $25,000. Richardson Financial Services Inc. purchased a new position in General Dynamics during the 4th quarter worth $25,000. American Capital Advisory LLC acquired a new stake in General Dynamics in the second quarter valued at about $29,000. Financial Synergies Wealth Advisors Inc. acquired a new position in General Dynamics during the 1st quarter worth approximately $29,000. Finally, New Covenant Trust Company N.A. purchased a new position in shares of General Dynamics during the 1st quarter worth approximately $29,000. Institutional investors and hedge funds own 86.14% of the company’s stock.

General Dynamics Trading Down 1.2 %

NYSE GD opened at $303.85 on Wednesday. The company’s fifty day moving average price is $293.51 and its two-hundred day moving average price is $290.56. The company has a market capitalization of $83.37 billion, a price-to-earnings ratio of 24.78, a price-to-earnings-growth ratio of 1.64 and a beta of 0.61. General Dynamics Co. has a 12 month low of $214.53 and a 12 month high of $309.97. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.33 and a quick ratio of 0.80.

General Dynamics (NYSE:GD) last posted its quarterly earnings results on Wednesday, July 24th. The aerospace company reported $3.26 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 firm had revenue of $11.98 billion during the quarter, compared to analyst estimates of $11.46 billion. During the same quarter last year, the business posted $2.70 earnings per share. The firm’s revenue for the quarter was up 18.0% on a year-over-year basis. As a group, research 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 issued a $1.42 dividend. This represents a $5.68 annualized dividend and a dividend yield of 1.87%. The ex-dividend date is Friday, October 11th. General Dynamics’s dividend payout ratio (DPR) is 46.33%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Wells Fargo & Company upped their price objective on General Dynamics from $330.00 to $334.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. Barclays boosted their price objective 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. Royal Bank of Canada restated an “outperform” rating and issued a $320.00 price target on shares of General Dynamics in a report on Thursday, July 25th. BTIG Research assumed coverage on General Dynamics in a research report on Wednesday, June 26th. They set a “buy” rating and a $345.00 target price on the stock. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of General Dynamics in a research report on Monday, July 29th. Six equities research 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 price target 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.