Pallas Capital Advisors LLC Takes Position in General Dynamics Co. (NYSE:GD)

Pallas Capital Advisors LLC purchased a new position in General Dynamics Co. (NYSE:GD) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,179 shares of the aerospace company’s stock, valued at approximately $355,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in GD. International Assets Investment Management LLC increased its holdings in General Dynamics by 40,389.3% during the 3rd quarter. International Assets Investment Management LLC now owns 1,379,472 shares of the aerospace company’s stock valued at $416,876,000 after purchasing an additional 1,376,065 shares in the last quarter. 1832 Asset Management L.P. lifted its position in shares of General Dynamics by 2,189.3% during the second quarter. 1832 Asset Management L.P. now owns 374,207 shares of the aerospace company’s stock worth $108,572,000 after purchasing an additional 357,861 shares in the last quarter. Public Employees Retirement Association of Colorado grew its stake 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 valued at $96,148,000 after purchasing an additional 305,624 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in General Dynamics by 4.0% in 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 purchasing an additional 293,316 shares during the last quarter. Finally, Hsbc Holdings PLC lifted its holdings in 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 buying an additional 262,164 shares in the last quarter. Institutional investors own 86.14% of the company’s stock.

Insiders Place Their Bets

In other news, Director Peter A. Wall sold 1,320 shares of the 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 completion of the sale, the director now owns 3,592 shares of the company’s stock, valued at approximately $1,106,515.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 1.52% of the company’s stock.

Wall Street Analysts Forecast Growth

GD has been the subject of a number of recent research reports. Seaport Res Ptn downgraded General Dynamics from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 11th. Sanford C. Bernstein dropped their price objective on General Dynamics from $343.00 to $331.00 and set a “market perform” rating for the company in a report on Thursday, October 24th. Susquehanna raised their target price on shares of General Dynamics from $333.00 to $352.00 and gave the company a “positive” rating in a research note on Thursday, October 17th. Citigroup boosted their price target on shares of General Dynamics from $331.00 to $354.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Finally, Barclays raised their price objective on shares of General Dynamics from $325.00 to $330.00 and gave the company an “overweight” rating in a research note on Tuesday. Seven investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, General Dynamics currently has an average rating of “Moderate Buy” and a consensus target price of $324.19.

General Dynamics Stock Down 3.3 %

Shares of GD stock opened at $291.55 on Friday. The firm has a fifty day moving average of $300.80 and a 200-day moving average of $294.97. General Dynamics Co. has a 12-month low of $237.50 and a 12-month high of $313.11. The company has a market capitalization of $80.17 billion, a price-to-earnings ratio of 23.78, a P/E/G ratio of 1.72 and a beta of 0.61. 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 posted its quarterly earnings data on Wednesday, October 23rd. The aerospace company reported $3.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.48 by ($0.13). General Dynamics had a net margin of 7.89% and a return on equity of 16.74%. The business had revenue of $11.67 billion during the quarter, compared to analyst estimates of $11.65 billion. During the same quarter last year, the business earned $3.04 earnings per share. General Dynamics’s revenue for the quarter was up 10.4% on a year-over-year basis. As a group, equities research analysts predict that General Dynamics Co. will post 14.27 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 $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 1.95%. General Dynamics’s dividend payout ratio is 46.33%.

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.