Calamos Advisors LLC Reduces Holdings in General Dynamics Co. (NYSE:GD)

Calamos Advisors LLC reduced its position in General Dynamics Co. (NYSE:GD) by 36.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 44,900 shares of the aerospace company’s stock after selling 25,939 shares during the period. Calamos Advisors LLC’s holdings in General Dynamics were worth $13,027,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of GD. GUNN & Co INVESTMENT MANAGEMENT INC. bought a new position in General Dynamics during the 4th quarter valued at $26,520,000. Atria Wealth Solutions Inc. increased its holdings in General Dynamics by 3.9% in the fourth quarter. Atria Wealth Solutions Inc. now owns 26,406 shares of the aerospace company’s stock valued at $6,857,000 after buying an additional 998 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. raised its stake in General Dynamics by 15.5% during the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 5,231 shares of the aerospace company’s stock valued at $1,358,000 after buying an additional 702 shares in the last quarter. Meritage Portfolio Management grew its position in shares of General Dynamics by 29.7% in the 4th quarter. Meritage Portfolio Management now owns 1,328 shares of the aerospace company’s stock worth $345,000 after acquiring an additional 304 shares in the last quarter. Finally, Syon Capital LLC increased its holdings in shares of General Dynamics by 30.0% in the 4th quarter. Syon Capital LLC now owns 2,026 shares of the aerospace company’s stock valued at $526,000 after acquiring an additional 468 shares during the last quarter. 86.14% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently weighed in on GD. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of General Dynamics in a research report on Monday, July 29th. BTIG Research began coverage on shares of General Dynamics in a report on Wednesday, June 26th. They set a “buy” rating and a $345.00 price target for the company. Robert W. Baird reaffirmed an “outperform” rating and issued a $345.00 price objective on shares of General Dynamics in a report on Tuesday, July 2nd. Morgan Stanley raised shares of General Dynamics from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $293.00 to $345.00 in a research note on Friday, August 9th. Finally, StockNews.com lowered shares of General Dynamics from a “strong-buy” rating to a “buy” rating in a research note on Friday, May 3rd. Six investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $315.06.

General Dynamics Price Performance

GD opened at $291.45 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 12-month low of $214.53 and a 12-month high of $302.75. The stock has a fifty day moving average of $290.89 and a 200-day moving average of $287.27. The firm has a market capitalization of $79.96 billion, a P/E ratio of 23.77, a PEG ratio of 1.68 and a beta of 0.60.

General Dynamics (NYSE:GD) last posted its earnings results on Wednesday, July 24th. The aerospace company reported $3.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.30 by ($0.04). The business 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 last year, the firm earned $2.70 earnings per share. Equities analysts forecast that General Dynamics Co. will post 14.5 EPS for the current fiscal year.

General Dynamics Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 11th will be paid a $1.42 dividend. The ex-dividend date is Friday, October 11th. This represents a $5.68 dividend on an annualized basis and a dividend yield of 1.95%. General Dynamics’s payout ratio 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.