General Dynamics Co. (NYSE:GD) Shares Acquired by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky lifted its stake in shares of General Dynamics Co. (NYSE:GD) by 11.6% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 55,551 shares of the aerospace company’s stock after purchasing an additional 5,786 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in General Dynamics were worth $16,118,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of GD. 1832 Asset Management L.P. increased its position in General Dynamics by 3,645.4% in 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 during the last quarter. Public Employees Retirement Association of Colorado boosted its stake in shares of 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 acquiring an additional 305,624 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake 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 worth $2,216,599,000 after acquiring an additional 293,316 shares in the last quarter. Hsbc Holdings PLC boosted its stake in shares of General Dynamics by 24.2% during the 2nd quarter. Hsbc Holdings PLC now owns 1,347,247 shares of the aerospace company’s stock worth $391,119,000 after acquiring an additional 262,164 shares in the last quarter. Finally, Westwood Holdings Group Inc. boosted its stake in shares of 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 acquiring an additional 244,373 shares in the last quarter. 86.14% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Barclays increased their target price on General Dynamics from $310.00 to $325.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. Morgan Stanley upgraded General Dynamics from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $293.00 to $345.00 in a research note on Friday, August 9th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of General Dynamics in a report on Monday, July 29th. Wells Fargo & Company cut General Dynamics from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $334.00 to $317.00 in a report on Tuesday. Finally, BTIG Research assumed coverage on General Dynamics in a report on Wednesday, June 26th. They issued a “buy” rating and a $345.00 price target for the company. Six research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $317.41.

General Dynamics Stock Up 1.0 %

Shares of NYSE:GD opened at $305.32 on Wednesday. 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 business has a fifty day simple moving average of $296.51 and a 200 day simple moving average of $292.64. General Dynamics Co. has a 12-month low of $214.53 and a 12-month high of $309.97. The firm has a market cap of $83.77 billion, a P/E ratio of 24.90, a P/E/G ratio of 1.68 and a beta of 0.61.

General Dynamics (NYSE:GD) last released 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 net margin of 7.89% and a return on equity of 16.74%. The company had revenue of $11.98 billion for the quarter, compared to analyst estimates of $11.46 billion. During the same quarter last year, the firm posted $2.70 EPS. General Dynamics’s revenue for the quarter was up 18.0% on a year-over-year basis. Analysts predict that General Dynamics Co. will post 14.52 earnings per share for the current year.

General Dynamics Dividend Announcement

The business 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 $1.42 dividend. The ex-dividend date of this dividend is Friday, October 11th. This represents a $5.68 dividend on an annualized basis and a dividend yield of 1.86%. General Dynamics’s dividend payout ratio (DPR) is presently 46.33%.

Insider Activity at General Dynamics

In other news, Director Peter A. Wall sold 1,320 shares of the business’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $308.05, for a total transaction of $406,626.00. Following the completion of the transaction, the director now directly owns 3,592 shares in the company, valued at approximately $1,106,515.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.52% of the stock is owned by company 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.