Axecap Investments LLC Acquires New Position in General Dynamics Co. (NYSE:GD)

Axecap Investments LLC bought a new stake in General Dynamics Co. (NYSE:GD) in the third quarter, Holdings Channel.com reports. The institutional investor bought 10,825 shares of the aerospace company’s stock, valued at approximately $3,271,000. General Dynamics comprises about 2.5% of Axecap Investments LLC’s portfolio, making the stock its 11th biggest position.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Kingsview Wealth Management LLC lifted its stake in shares of General Dynamics by 87.6% in the first quarter. Kingsview Wealth Management LLC now owns 14,690 shares of the aerospace company’s stock worth $4,150,000 after buying an additional 6,858 shares during the last quarter. Clearbridge Investments LLC acquired a new stake in shares of General Dynamics in the first quarter worth $493,000. Wealth Enhancement Advisory Services LLC lifted its stake in shares of General Dynamics by 2.4% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 147,736 shares of the aerospace company’s stock worth $41,734,000 after buying an additional 3,531 shares during the last quarter. Cetera Investment Advisers lifted its stake in shares of General Dynamics by 291.4% in the first quarter. Cetera Investment Advisers now owns 96,539 shares of the aerospace company’s stock worth $27,271,000 after buying an additional 71,871 shares during the last quarter. Finally, Peak Financial Advisors LLC acquired a new stake in shares of General Dynamics in the third quarter worth $3,022,000. 86.14% of the stock is currently owned by institutional investors and hedge funds.

General Dynamics Stock Down 0.5 %

Shares of NYSE GD opened at $304.40 on Thursday. The firm’s 50-day simple moving average is $300.17 and its 200 day simple moving average is $294.55. The company has a market cap of $83.52 billion, a price-to-earnings ratio of 24.83, a price-to-earnings-growth ratio of 1.67 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 Co. has a 12-month low of $232.29 and a 12-month high of $313.11.

General Dynamics (NYSE:GD) last issued its quarterly earnings results 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). The company had revenue of $11.98 billion for the quarter, compared to analyst estimates of $11.46 billion. General Dynamics had a return on equity of 16.74% and a net margin of 7.89%. The firm’s quarterly revenue was up 18.0% on a year-over-year basis. During the same quarter last year, the company earned $2.70 EPS. On average, research analysts expect that General Dynamics Co. will post 14.38 earnings per share for the current fiscal year.

General Dynamics Announces Dividend

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 given a dividend of $1.42 per share. The ex-dividend date of this dividend is Friday, October 11th. This represents a $5.68 annualized dividend and a yield of 1.87%. General Dynamics’s dividend payout ratio (DPR) is 46.33%.

Insider Buying and Selling at General Dynamics

In other General Dynamics news, Director Peter A. Wall sold 1,320 shares of the company’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $308.05, for a total transaction of $406,626.00. Following the transaction, the director now directly owns 3,592 shares in the company, valued at approximately $1,106,515.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.52% of the company’s stock.

Analysts Set New Price Targets

GD has been the topic of a number of research reports. Morgan Stanley raised shares of General Dynamics from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $293.00 to $345.00 in a research report on Friday, August 9th. Citigroup boosted their price target on shares of General Dynamics from $331.00 to $354.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Barclays boosted their price target on shares of General Dynamics from $310.00 to $325.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. Royal Bank of Canada reissued an “outperform” rating and issued a $320.00 price target on shares of General Dynamics in a report on Thursday, July 25th. Finally, BTIG Research initiated coverage on shares of General Dynamics in a report on Wednesday, June 26th. They issued a “buy” rating and a $345.00 price target on the stock. Seven investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $320.18.

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.