General Dynamics Co. (NYSE:GD) Shares Bought by Parallel Advisors LLC

Parallel Advisors LLC grew its holdings in General Dynamics Co. (NYSE:GD) by 0.8% in the 2nd quarter, HoldingsChannel reports. The firm owned 4,968 shares of the aerospace company’s stock after purchasing an additional 40 shares during the quarter. Parallel Advisors LLC’s holdings in General Dynamics were worth $1,441,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in GD. Gladstone Capital Management LLP purchased a new position in shares of General Dynamics in the 4th quarter valued at about $3,869,000. SWP Financial LLC acquired a new stake in shares of General Dynamics during the fourth quarter worth $227,000. Sanibel Captiva Trust Company Inc. purchased a new stake in shares of General Dynamics in the fourth quarter valued at about $28,107,000. Evercore Wealth Management LLC boosted its holdings in General Dynamics by 1.5% in the 4th quarter. Evercore Wealth Management LLC now owns 5,355 shares of the aerospace company’s stock valued at $1,391,000 after purchasing an additional 78 shares in the last quarter. Finally, TD Asset Management Inc grew its holdings in General Dynamics by 7.2% during the fourth quarter. TD Asset Management Inc now owns 80,280 shares of the aerospace company’s stock worth $20,846,000 after acquiring an additional 5,405 shares during the period. Hedge funds and other institutional investors own 86.14% of the company’s stock.

General Dynamics Trading Up 1.4 %

Shares of GD opened at $304.80 on Monday. The company has a market capitalization of $83.63 billion, a P/E ratio of 24.86, a P/E/G ratio of 1.64 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. The stock has a 50-day moving average price of $292.48 and a 200 day moving average price of $290.09. General Dynamics Co. has a one year low of $214.53 and a one year high of $306.51.

General Dynamics (NYSE:GD) last issued 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). The company had revenue of $11.98 billion for the quarter, compared to the consensus estimate of $11.46 billion. General Dynamics had a return on equity of 16.74% and a net margin of 7.89%. The business’s revenue for the quarter was up 18.0% on a year-over-year basis. During the same period in the previous year, the business posted $2.70 EPS. Sell-side analysts forecast that General Dynamics Co. will post 14.52 EPS for the current fiscal year.

General Dynamics Announces Dividend

The firm also recently declared 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 1.86%. The ex-dividend date of this dividend is Friday, October 11th. General Dynamics’s dividend payout ratio (DPR) is presently 46.33%.

Wall Street Analysts Forecast Growth

GD has been the topic of several recent analyst reports. BTIG Research initiated coverage on shares of General Dynamics in a research report on Wednesday, June 26th. They set a “buy” rating and a $345.00 target price on the stock. Royal Bank of Canada reiterated an “outperform” rating and set a $320.00 price objective on shares of General Dynamics in a research report on Thursday, July 25th. Morgan Stanley upgraded General Dynamics from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $293.00 to $345.00 in a report on Friday, August 9th. Robert W. Baird reiterated an “outperform” rating and set a $345.00 price objective on shares of General Dynamics in a report on Tuesday, July 2nd. Finally, Sanford C. Bernstein increased their target price on General Dynamics from $290.00 to $302.00 and gave the stock a “market perform” rating in a research report on Thursday, May 23rd. Six equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, General Dynamics has a consensus rating of “Moderate Buy” and an average 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.