Studio Investment Management LLC Increases Holdings in General Dynamics Co. (NYSE:GD)

Studio Investment Management LLC grew its holdings in General Dynamics Co. (NYSE:GD) by 1.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 24,573 shares of the aerospace company’s stock after acquiring an additional 379 shares during the period. General Dynamics comprises about 1.6% of Studio Investment Management LLC’s investment portfolio, making the stock its 12th biggest position. Studio Investment Management LLC’s holdings in General Dynamics were worth $6,381,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in GD. Norges Bank purchased a new stake in shares of General Dynamics in the fourth quarter worth about $728,284,000. Wellington Management Group LLP increased its stake in General Dynamics by 12.0% during the third quarter. Wellington Management Group LLP now owns 16,360,526 shares of the aerospace company’s stock worth $3,615,185,000 after acquiring an additional 1,755,276 shares during the last quarter. International Assets Investment Management LLC increased its stake in General Dynamics by 10,763.2% during the fourth quarter. International Assets Investment Management LLC now owns 923,593 shares of the aerospace company’s stock worth $239,829,000 after acquiring an additional 915,091 shares during the last quarter. 1832 Asset Management L.P. increased its stake in General Dynamics by 3,645.4% during the fourth quarter. 1832 Asset Management L.P. now owns 558,586 shares of the aerospace company’s stock worth $145,048,000 after acquiring an additional 543,672 shares during the last quarter. Finally, FMR LLC increased its stake in General Dynamics by 13.7% during the third quarter. FMR LLC now owns 2,293,269 shares of the aerospace company’s stock worth $506,744,000 after acquiring an additional 275,947 shares during the last quarter. 86.14% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have weighed in on GD shares. JPMorgan Chase & Co. boosted their price objective on General Dynamics from $280.00 to $298.00 and gave the stock an “overweight” rating in a research note on Thursday, April 25th. Sanford C. Bernstein boosted their price objective on General Dynamics from $290.00 to $302.00 and gave the stock a “market perform” rating in a research note on Thursday, May 23rd. Argus upped their target price on General Dynamics from $290.00 to $310.00 and gave the company a “buy” rating in a research note on Monday, April 29th. The Goldman Sachs Group upped their target price on General Dynamics from $253.00 to $284.00 and gave the company a “neutral” rating in a research note on Tuesday, April 16th. Finally, Barclays upped their target price on General Dynamics from $285.00 to $310.00 and gave the company an “overweight” rating in a research note on Monday, April 15th. Five equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $300.63.

General Dynamics Stock Down 0.6 %

Shares of NYSE:GD opened at $292.52 on Friday. The business’s 50 day moving average is $292.68 and its 200 day moving average is $274.22. The company has a quick ratio of 0.87, a current ratio of 1.44 and a debt-to-equity ratio of 0.41. The stock has a market cap of $80.26 billion, a P/E ratio of 23.86, a price-to-earnings-growth ratio of 1.68 and a beta of 0.64. General Dynamics Co. has a 52-week low of $209.25 and a 52-week high of $302.42.

General Dynamics (NYSE:GD) last posted its earnings results on Wednesday, April 24th. The aerospace company reported $2.88 earnings per share for the quarter, missing analysts’ consensus estimates of $2.89 by ($0.01). The company had revenue of $10.73 billion for the quarter, compared to analysts’ expectations of $10.26 billion. General Dynamics had a return on equity of 16.48% and a net margin of 7.85%. The firm’s quarterly revenue was up 8.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.64 EPS. Sell-side analysts predict that General Dynamics Co. will post 14.55 EPS for the current year.

General Dynamics Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 9th. Shareholders of record on Friday, July 5th will be issued a dividend of $1.42 per share. The ex-dividend date is Friday, July 5th. This represents a $5.68 dividend on an annualized basis and a yield of 1.94%. General Dynamics’s dividend payout ratio is currently 46.33%.

Insiders Place Their Bets

In other General Dynamics news, CFO Kimberly A. Kuryea sold 13,344 shares of the company’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $298.16, for a total transaction of $3,978,647.04. Following the completion of the sale, the chief financial officer now owns 79,255 shares in the company, valued at $23,630,670.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, VP Gregory S. Gallopoulos sold 13,567 shares of the stock in a transaction on Monday, April 29th. The stock was sold at an average price of $288.51, for a total transaction of $3,914,215.17. Following the completion of the sale, the vice president now owns 103,345 shares in the company, valued at approximately $29,816,065.95. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Kimberly A. Kuryea sold 13,344 shares of the stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $298.16, for a total value of $3,978,647.04. Following the sale, the chief financial officer now owns 79,255 shares of the company’s stock, valued at approximately $23,630,670.80. The disclosure for this sale can be found here. Insiders sold a total of 118,486 shares of company stock worth $34,391,642 over the last 90 days. Company insiders own 1.52% of the company’s stock.

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.