Denali Advisors LLC Trims Position in General Dynamics Co. (NYSE:GD)

Denali Advisors LLC trimmed its position in General Dynamics Co. (NYSE:GD) by 5.9% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,600 shares of the aerospace company’s stock after selling 100 shares during the period. Denali Advisors LLC’s holdings in General Dynamics were worth $464,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. 1832 Asset Management L.P. boosted its holdings in shares of General Dynamics by 3,645.4% in the fourth quarter. 1832 Asset Management L.P. now owns 558,586 shares of the aerospace company’s stock worth $145,048,000 after buying an additional 543,672 shares during the last quarter. Public Employees Retirement Association of Colorado grew its position 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 valued at $96,148,000 after acquiring an additional 305,624 shares during the period. Massachusetts Financial Services Co. MA grew its position 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 acquiring an additional 293,316 shares during the period. Junto Capital Management LP purchased a new stake in shares of General Dynamics in the 4th quarter worth $43,733,000. Finally, Bahl & Gaynor Inc. raised its holdings in General Dynamics by 5,398.1% in the 1st quarter. Bahl & Gaynor Inc. now owns 168,461 shares of the aerospace company’s stock worth $47,589,000 after purchasing an additional 165,397 shares during the period. 86.14% of the stock is currently owned by institutional investors.

General Dynamics Price Performance

NYSE:GD opened at $303.85 on Wednesday. The business’s 50-day moving average is $293.51 and its 200 day moving average is $290.56. General Dynamics Co. has a 12 month low of $214.53 and a 12 month high of $309.97. The company has a market capitalization of $83.37 billion, a P/E ratio of 24.78, a P/E/G ratio of 1.64 and a beta of 0.61. The company has a current ratio of 1.33, a quick ratio of 0.80 and a debt-to-equity ratio of 0.33.

General Dynamics (NYSE:GD) last issued its quarterly earnings data on Wednesday, July 24th. The aerospace company reported $3.26 earnings per share (EPS) for the quarter, missing the consensus estimate 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 earned $2.70 earnings per share. The firm’s revenue was up 18.0% on a year-over-year basis. On average, equities research analysts forecast that General Dynamics Co. will post 14.52 earnings per share 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 of this dividend is Friday, October 11th. This represents a $5.68 dividend on an annualized basis and a dividend yield of 1.87%. General Dynamics’s payout ratio is currently 46.33%.

Analysts Set New Price Targets

GD has been the subject of several recent research reports. Barclays boosted their price target on General Dynamics from $310.00 to $325.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. Wells Fargo & Company boosted their price objective on General Dynamics from $330.00 to $334.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. Robert W. Baird restated an “outperform” rating and set a $345.00 target price on shares of General Dynamics in a research note on Tuesday, July 2nd. Morgan Stanley upgraded shares of General Dynamics from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $293.00 to $345.00 in a research report on Friday, August 9th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $320.00 price objective 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 thirteen have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $315.06.

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.