Sanctuary Advisors LLC Acquires New Holdings in General Dynamics Co. (NYSE:GD)

Sanctuary Advisors LLC bought a new position in shares of General Dynamics Co. (NYSE:GD) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund bought 84,902 shares of the aerospace company’s stock, valued at approximately $24,147,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Modera Wealth Management LLC increased its position in General Dynamics by 0.4% during the 2nd quarter. Modera Wealth Management LLC now owns 8,120 shares of the aerospace company’s stock valued at $2,356,000 after purchasing an additional 35 shares during the period. Rathbones Group PLC boosted its position in General Dynamics by 1.8% during the second quarter. Rathbones Group PLC now owns 2,022 shares of the aerospace company’s stock valued at $587,000 after acquiring an additional 35 shares during the last quarter. Legend Financial Advisors Inc. grew its holdings in General Dynamics by 46.8% during the 1st quarter. Legend Financial Advisors Inc. now owns 113 shares of the aerospace company’s stock worth $32,000 after acquiring an additional 36 shares during the period. Diversified Trust Co raised its position in shares of General Dynamics by 2.5% in the 1st quarter. Diversified Trust Co now owns 1,503 shares of the aerospace company’s stock worth $425,000 after acquiring an additional 36 shares in the last quarter. Finally, Fulton Bank N.A. lifted its stake in shares of General Dynamics by 1.1% in the 1st quarter. Fulton Bank N.A. now owns 3,299 shares of the aerospace company’s stock valued at $932,000 after purchasing an additional 37 shares during the period. 86.14% of the stock is currently owned by institutional investors and hedge funds.

General Dynamics Stock Performance

Shares of GD stock opened at $303.92 on Thursday. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.33 and a quick ratio of 0.80. The firm has a 50-day moving average of $296.90 and a 200-day moving average of $292.72. General Dynamics Co. has a one year low of $214.53 and a one year high of $309.97. The company has a market cap of $83.38 billion, a P/E ratio of 24.79, a P/E/G ratio of 1.68 and a beta of 0.61.

General Dynamics (NYSE:GD) last posted its quarterly earnings data on Wednesday, July 24th. The aerospace company reported $3.26 EPS for the quarter, missing the consensus estimate of $3.30 by ($0.04). General Dynamics had a net margin of 7.89% and a return on equity of 16.74%. The firm 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 EPS. The company’s quarterly revenue was up 18.0% on a year-over-year basis. Equities research analysts forecast that General Dynamics Co. will post 14.52 EPS for the current fiscal year.

General Dynamics Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, October 11th will be paid a $1.42 dividend. The ex-dividend date is Friday, October 11th. This represents a $5.68 dividend on an annualized basis and a yield of 1.87%. General Dynamics’s dividend payout ratio (DPR) is presently 46.33%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on GD shares. Robert W. Baird reiterated an “outperform” rating and issued a $345.00 target price on shares of General Dynamics in a report on Tuesday, July 2nd. Wells Fargo & Company lowered shares of General Dynamics from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $334.00 to $317.00 in a research note on Tuesday. Barclays increased 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 research note on Monday, July 29th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $320.00 target price on shares of General Dynamics in a research note on Thursday, July 25th. Six equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $317.41.

Insider Activity

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

General Dynamics 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.