PFG Investments LLC Buys 280 Shares of General Dynamics Co. (NYSE:GD)

PFG Investments LLC grew its stake in General Dynamics Co. (NYSE:GD) by 22.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,548 shares of the aerospace company’s stock after acquiring an additional 280 shares during the quarter. PFG Investments LLC’s holdings in General Dynamics were worth $449,000 at the end of the most recent quarter.

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

General Dynamics Trading Up 0.4 %

General Dynamics stock opened at $300.72 on Friday. The stock has a 50-day simple moving average of $292.01 and a 200 day simple moving average of $289.65. The stock has a market capitalization of $82.63 billion, a P/E ratio of 24.53, a PEG ratio of 1.60 and a beta of 0.61. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.80 and a current ratio of 1.33. General Dynamics Co. has a 52 week low of $214.53 and a 52 week high of $306.51.

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 company had revenue of $11.98 billion for the quarter, compared to analyst estimates of $11.46 billion. General Dynamics had a return on equity of 16.74% and a net margin of 7.89%. The business’s quarterly revenue was up 18.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.70 EPS. Analysts expect that General Dynamics Co. will post 14.52 earnings per share for the current year.

General Dynamics Dividend Announcement

The company 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 dividend of $1.42 per share. The ex-dividend date of this dividend is Friday, October 11th. This represents a $5.68 annualized dividend and a yield of 1.89%. General Dynamics’s payout ratio is currently 46.33%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on GD shares. Morgan Stanley raised shares of General Dynamics from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $293.00 to $345.00 in a research report on Friday, August 9th. Barclays boosted their price target on General Dynamics from $310.00 to $325.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. Royal Bank of Canada reiterated an “outperform” rating and set a $320.00 price objective on shares of General Dynamics in a report on Thursday, July 25th. Sanford C. Bernstein boosted their target price 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. Finally, Robert W. Baird reaffirmed an “outperform” rating and set a $345.00 price target on shares of General Dynamics in a research note on Tuesday, July 2nd. Six analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus 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.