Ballentine Partners LLC Has $962,000 Holdings in General Dynamics Co. (NYSE:GD)

Ballentine Partners LLC boosted its stake in shares of General Dynamics Co. (NYSE:GD) by 7.8% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 3,315 shares of the aerospace company’s stock after purchasing an additional 240 shares during the quarter. Ballentine Partners LLC’s holdings in General Dynamics were worth $962,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of GD. Ellis Investment Partners LLC increased its holdings in shares of General Dynamics by 1.9% in the 2nd quarter. Ellis Investment Partners LLC now owns 5,189 shares of the aerospace company’s stock valued at $1,506,000 after purchasing an additional 95 shares during the period. Caprock Group LLC increased its holdings in shares of General Dynamics by 41.9% in the 2nd quarter. Caprock Group LLC now owns 8,500 shares of the aerospace company’s stock valued at $2,466,000 after purchasing an additional 2,511 shares during the period. Acadian Asset Management LLC increased its holdings in shares of General Dynamics by 239.7% in the 2nd quarter. Acadian Asset Management LLC now owns 8,075 shares of the aerospace company’s stock valued at $2,341,000 after purchasing an additional 5,698 shares during the period. Asset Dedication LLC increased its holdings in shares of General Dynamics by 2.6% in the 2nd quarter. Asset Dedication LLC now owns 5,097 shares of the aerospace company’s stock valued at $1,479,000 after purchasing an additional 129 shares during the period. Finally, Chris Bulman Inc acquired a new position in shares of General Dynamics in the 2nd quarter valued at about $66,000. Institutional investors and hedge funds own 86.14% of the company’s stock.

General Dynamics Stock Up 3.0 %

Shares of General Dynamics stock opened at $301.56 on Tuesday. The stock has a market capitalization of $82.86 billion, a P/E ratio of 24.60, a PEG ratio of 1.60 and a beta of 0.61. 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 stock has a 50 day moving average price of $291.07 and a two-hundred day moving average price of $289.30. General Dynamics Co. has a 12-month low of $214.53 and a 12-month high of $303.10.

General Dynamics (NYSE:GD) last posted its quarterly earnings data on Wednesday, July 24th. The aerospace company reported $3.26 earnings per share for the quarter, missing the consensus estimate of $3.30 by ($0.04). General Dynamics had a net margin of 7.89% and a return on equity of 16.74%. The business had revenue of $11.98 billion during the quarter, compared to the consensus estimate of $11.46 billion. During the same period in the prior year, the company posted $2.70 earnings per share. The firm’s revenue was up 18.0% compared to the same quarter last year. Equities analysts expect that General Dynamics Co. will post 14.52 earnings per share for the current 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 given a $1.42 dividend. The ex-dividend date is Friday, October 11th. This represents a $5.68 annualized dividend and a dividend yield of 1.88%. General Dynamics’s dividend payout ratio is 46.33%.

Analyst Upgrades and Downgrades

GD has been the topic of a number of research reports. Morgan Stanley upgraded General Dynamics from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $293.00 to $345.00 in a report on Friday, August 9th. Wells Fargo & Company boosted their price target on General Dynamics from $330.00 to $334.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. Royal Bank of Canada reissued an “outperform” rating and issued a $320.00 price target on shares of General Dynamics in a research note on Thursday, July 25th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of General Dynamics in a research note on Monday, July 29th. Finally, Barclays boosted their price target on General Dynamics from $310.00 to $325.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. Six research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, General Dynamics presently has an average rating of “Moderate Buy” and an average price target of $315.06.

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.