International Assets Investment Management LLC Increases Position in General Dynamics Co. (NYSE:GD)

International Assets Investment Management LLC increased its stake in shares of General Dynamics Co. (NYSE:GD) by 40,389.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,379,472 shares of the aerospace company’s stock after buying an additional 1,376,065 shares during the period. International Assets Investment Management LLC’s holdings in General Dynamics were worth $416,876,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in GD. 1832 Asset Management L.P. increased its position in shares of General Dynamics by 2,189.3% in the second quarter. 1832 Asset Management L.P. now owns 374,207 shares of the aerospace company’s stock valued at $108,572,000 after buying an additional 357,861 shares in the last quarter. Public Employees Retirement Association of Colorado grew its stake in General Dynamics by 879.9% in 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 last quarter. Massachusetts Financial Services Co. MA increased its holdings in 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 in the last quarter. Hsbc Holdings PLC raised its position in General Dynamics by 24.2% during the second 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 during the last quarter. Finally, Westwood Holdings Group Inc. lifted its holdings in shares of General Dynamics by 174.8% in the second quarter. Westwood Holdings Group Inc. now owns 384,151 shares of the aerospace company’s stock valued at $111,458,000 after purchasing an additional 244,373 shares in the last quarter. 86.14% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the stock. TD Cowen raised shares of General Dynamics to a “strong-buy” rating in a research note on Tuesday, October 8th. Seaport Res Ptn cut General Dynamics from a “strong-buy” rating to a “hold” rating in a report on Friday, October 11th. Royal Bank of Canada lifted their price objective on General Dynamics from $320.00 to $330.00 and gave the stock an “outperform” rating in a research report on Thursday. Susquehanna boosted 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. Finally, Morgan Stanley upgraded shares of General Dynamics from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $293.00 to $345.00 in a report on Friday, August 9th. Seven analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $323.88.

General Dynamics Stock Down 1.0 %

Shares of NYSE GD opened at $301.27 on Friday. The stock has a market capitalization of $82.66 billion, a PE ratio of 24.57, a P/E/G 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. The firm has a fifty day moving average of $300.17 and a 200-day moving average of $294.55. General Dynamics Co. has a 52-week low of $236.58 and a 52-week high of $313.11.

General Dynamics (NYSE:GD) last posted its quarterly earnings results 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). The firm had revenue of $11.67 billion for the quarter, compared to analysts’ expectations of $11.65 billion. General Dynamics had a net margin of 7.89% and a return on equity of 16.74%. General Dynamics’s revenue was up 10.4% on a year-over-year basis. During the same period last year, the firm posted $3.04 EPS. On average, analysts anticipate that General Dynamics Co. will post 14.38 EPS for the current year.

General Dynamics Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, October 11th will be given a dividend of $1.42 per share. The ex-dividend date is Friday, October 11th. This represents a $5.68 dividend on an annualized basis and a yield of 1.89%. General Dynamics’s dividend payout ratio (DPR) is 46.33%.

Insiders Place Their Bets

In related news, Director Peter A. Wall sold 1,320 shares of General Dynamics 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 transaction, the director now owns 3,592 shares in the company, valued at approximately $1,106,515.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.52% of the stock is owned by insiders.

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.