Semmax Financial Advisors Inc. Raises Stock Position in General Dynamics Co. (NYSE:GD)

Semmax Financial Advisors Inc. lifted its holdings in General Dynamics Co. (NYSE:GD) by 9.5% in the second quarter, HoldingsChannel.com reports. The fund owned 3,359 shares of the aerospace company’s stock after buying an additional 291 shares during the quarter. Semmax Financial Advisors Inc.’s holdings in General Dynamics were worth $981,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Distillate Capital Partners LLC bought a new stake in General Dynamics in the 2nd quarter valued at $19,633,000. Bank of Montreal Can increased its holdings in shares of General Dynamics by 1.0% in the second quarter. Bank of Montreal Can now owns 1,337,726 shares of the aerospace company’s stock worth $402,375,000 after purchasing an additional 13,855 shares during the last quarter. Evergreen Capital Management LLC lifted its position in shares of General Dynamics by 150.4% in the second quarter. Evergreen Capital Management LLC now owns 3,989 shares of the aerospace company’s stock worth $1,157,000 after buying an additional 2,396 shares in the last quarter. Public Sector Pension Investment Board grew its holdings in General Dynamics by 1,230.9% during the 2nd quarter. Public Sector Pension Investment Board now owns 58,055 shares of the aerospace company’s stock valued at $16,844,000 after buying an additional 53,693 shares in the last quarter. Finally, Certified Advisory Corp increased its stake in General Dynamics by 8.1% in the 2nd quarter. Certified Advisory Corp now owns 1,051 shares of the aerospace company’s stock worth $305,000 after acquiring an additional 79 shares during the last quarter. Hedge funds and other institutional investors own 86.14% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Wells Fargo & Company increased their target price on General Dynamics from $330.00 to $334.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. Barclays boosted their target price on shares of General Dynamics from $310.00 to $325.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. Robert W. Baird reaffirmed an “outperform” rating and issued a $345.00 price objective on shares of General Dynamics in a research note on Tuesday, July 2nd. Royal Bank of Canada restated an “outperform” rating and set a $320.00 price target on shares of General Dynamics in a report on Thursday, July 25th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of General Dynamics in a research note on Monday, July 29th. Six investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, General Dynamics has a consensus rating of “Moderate Buy” and an average target price of $315.06.

General Dynamics Stock Performance

Shares of GD opened at $308.09 on Tuesday. The company has a current ratio of 1.33, a quick ratio of 0.80 and a debt-to-equity ratio of 0.33. The firm has a market cap of $84.53 billion, a PE ratio of 25.13, a P/E/G ratio of 1.64 and a beta of 0.61. General Dynamics Co. has a 12 month low of $214.53 and a 12 month high of $309.97. The stock has a fifty day moving average price of $295.24 and a 200-day moving average price of $291.46.

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 analysts’ consensus estimates 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 analysts’ expectations of $11.46 billion. During the same quarter last year, the business posted $2.70 earnings per share. The company’s quarterly revenue was up 18.0% compared to the same quarter last year. Equities research analysts predict that General Dynamics Co. will post 14.52 earnings per share for the current fiscal year.

General Dynamics Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, October 11th will be paid a dividend of $1.42 per share. The ex-dividend date of this dividend is Friday, October 11th. This represents a $5.68 dividend on an annualized basis and a yield of 1.84%. General Dynamics’s payout ratio is 46.33%.

Insider Transactions at General Dynamics

In related news, Director Peter A. Wall sold 1,320 shares of the firm’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $308.05, for a total value of $406,626.00. Following the completion of the transaction, the director now owns 3,592 shares in the company, valued at approximately $1,106,515.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.52% of the company’s stock.

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.