Simon Quick Advisors LLC Buys Shares of 719 General Dynamics Co. (NYSE:GD)

Simon Quick Advisors LLC purchased a new stake in General Dynamics Co. (NYSE:GD) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 719 shares of the aerospace company’s stock, valued at approximately $209,000.

A number of other hedge funds have also modified their holdings of GD. Norges Bank purchased a new position in shares of General Dynamics during the 4th quarter worth approximately $728,284,000. Verity & Verity LLC purchased a new position in shares of General Dynamics during the first quarter worth $179,000. 1832 Asset Management L.P. grew its stake in shares of General Dynamics by 3,645.4% in the fourth quarter. 1832 Asset Management L.P. now owns 558,586 shares of the aerospace company’s stock valued at $145,048,000 after buying an additional 543,672 shares in the last quarter. Public Employees Retirement Association of Colorado raised its holdings in shares of General Dynamics by 879.9% in the 1st quarter. Public Employees Retirement Association of Colorado now owns 340,359 shares of the aerospace company’s stock valued at $96,148,000 after buying an additional 305,624 shares during the period. Finally, Junto Capital Management LP acquired a new position in General Dynamics during the 4th quarter worth about $43,733,000. 86.14% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the stock. Robert W. Baird reiterated an “outperform” rating and set a $345.00 price target on shares of General Dynamics in a research note on Tuesday, July 2nd. Barclays lifted their price objective on shares of General Dynamics from $310.00 to $325.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. Wells Fargo & Company increased their target price on shares of General Dynamics from $330.00 to $334.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. Royal Bank of Canada restated an “outperform” rating and issued a $320.00 price target on shares of General Dynamics in a research note on Thursday, July 25th. Finally, Sanford C. Bernstein increased their price objective on General Dynamics from $290.00 to $302.00 and gave the company a “market perform” rating in a research note on Thursday, May 23rd. Six equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $315.06.

General Dynamics Stock Up 1.0 %

GD opened at $297.29 on Friday. General Dynamics Co. has a 52 week low of $214.53 and a 52 week high of $302.75. The business has a 50 day moving average price of $290.74 and a two-hundred day moving average price of $288.67. The company has a quick ratio of 0.80, a current ratio of 1.33 and a debt-to-equity ratio of 0.33. The company has a market cap of $81.57 billion, a PE ratio of 24.25, 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 EPS for the quarter, missing the consensus estimate of $3.30 by ($0.04). General Dynamics had a return on equity of 16.74% and a net margin of 7.89%. The company had revenue of $11.98 billion for the quarter, compared to analysts’ expectations of $11.46 billion. During the same quarter last year, the company earned $2.70 EPS. General Dynamics’s revenue for the quarter was up 18.0% compared to the same quarter last year. As a group, research analysts anticipate that General Dynamics Co. will post 14.52 EPS for the current year.

General Dynamics Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders 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 1.91%. The ex-dividend date of this dividend is Friday, October 11th. General Dynamics’s payout ratio is 46.33%.

General Dynamics 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.