Mackenzie Financial Corp Sells 2,649 Shares of General Dynamics Co. (NYSE:GD)

Mackenzie Financial Corp cut its position in General Dynamics Co. (NYSE:GD) by 2.8% in the second quarter, HoldingsChannel.com reports. The firm owned 90,662 shares of the aerospace company’s stock after selling 2,649 shares during the period. Mackenzie Financial Corp’s holdings in General Dynamics were worth $26,305,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. 1832 Asset Management L.P. raised its stake in shares of 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 acquiring an additional 543,672 shares in the last quarter. Public Employees Retirement Association of Colorado increased its position in shares of General Dynamics by 879.9% during the first quarter. Public Employees Retirement Association of Colorado now owns 340,359 shares of the aerospace company’s stock worth $96,148,000 after purchasing an additional 305,624 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of General Dynamics by 4.0% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 7,639,758 shares of the aerospace company’s stock valued at $2,216,599,000 after purchasing an additional 293,316 shares during the last quarter. Hsbc Holdings PLC boosted its position in shares of General Dynamics by 24.2% in the 2nd quarter. Hsbc Holdings PLC now owns 1,347,247 shares of the aerospace company’s stock worth $391,119,000 after purchasing an additional 262,164 shares in the last quarter. Finally, Westwood Holdings Group Inc. grew its stake in General Dynamics by 174.8% during the 2nd quarter. Westwood Holdings Group Inc. now owns 384,151 shares of the aerospace company’s stock worth $111,458,000 after buying an additional 244,373 shares during the last quarter. 86.14% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

GD has been the subject of a number of research analyst reports. Morgan Stanley upgraded General Dynamics from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $293.00 to $345.00 in a research note on Friday, August 9th. Barclays lifted their target price on shares of General Dynamics from $310.00 to $325.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of General Dynamics in a report on Monday, July 29th. Robert W. Baird reissued an “outperform” rating and set a $345.00 price objective on shares of General Dynamics in a report on Tuesday, July 2nd. Finally, BTIG Research started coverage on General Dynamics in a research note on Wednesday, June 26th. They issued a “buy” rating and a $345.00 target price for the company. Five investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, General Dynamics presently has an average rating of “Moderate Buy” and an average target price of $318.41.

General Dynamics Stock Down 0.1 %

General Dynamics stock opened at $300.13 on Friday. General Dynamics Co. has a 52 week low of $214.53 and a 52 week high of $309.97. The firm has a market cap of $82.34 billion, a price-to-earnings ratio of 24.48, a price-to-earnings-growth ratio of 1.68 and a beta of 0.61. The business’s 50-day moving average price is $296.08 and its 200 day moving average price is $292.12. The company has a quick ratio of 0.80, a current ratio of 1.33 and a debt-to-equity ratio of 0.33.

General Dynamics (NYSE:GD) last announced its quarterly 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). General Dynamics had a return on equity of 16.74% and a net margin of 7.89%. The firm had revenue of $11.98 billion for the quarter, compared to analysts’ expectations of $11.46 billion. During the same period last year, the company posted $2.70 earnings per share. The business’s quarterly revenue was up 18.0% on a year-over-year basis. As a group, sell-side analysts anticipate that General Dynamics Co. will post 14.52 earnings per share for the current year.

General Dynamics Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, October 11th will be paid a $1.42 dividend. The ex-dividend date of this dividend is Friday, October 11th. This represents a $5.68 annualized dividend and a dividend yield of 1.89%. General Dynamics’s dividend payout ratio is presently 46.33%.

Insider Buying and Selling

In other General Dynamics news, Director Peter A. Wall sold 1,320 shares of the firm’s stock in a transaction that occurred 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 sale, the director now directly owns 3,592 shares of the company’s stock, valued at $1,106,515.60. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.52% of the stock is currently owned by insiders.

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.