Hartford Investment Management Co. Buys 1,666 Shares of General Dynamics Co. (NYSE:GD)

Hartford Investment Management Co. increased its stake in shares of General Dynamics Co. (NYSE:GD) by 11.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,245 shares of the aerospace company’s stock after purchasing an additional 1,666 shares during the quarter. Hartford Investment Management Co.’s holdings in General Dynamics were worth $4,909,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of GD. Redmont Wealth Advisors LLC bought a new position in General Dynamics in the first quarter valued at approximately $25,000. American Capital Advisory LLC bought a new position in General Dynamics in the second quarter valued at approximately $29,000. Lowe Wealth Advisors LLC bought a new position in General Dynamics in the third quarter valued at approximately $30,000. New Covenant Trust Company N.A. bought a new position in General Dynamics in the first quarter valued at approximately $29,000. Finally, Atlantic Edge Private Wealth Management LLC boosted its stake in General Dynamics by 120.0% in the second quarter. Atlantic Edge Private Wealth Management LLC now owns 110 shares of the aerospace company’s stock valued at $32,000 after acquiring an additional 60 shares during the last quarter. 86.14% of the stock is owned by institutional investors.

Insider Activity

In other news, Director Peter A. Wall sold 1,320 shares of General Dynamics 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 completion of the transaction, the director now owns 3,592 shares of the company’s stock, valued at $1,106,515.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 1.52% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on GD shares. TD Cowen raised shares of General Dynamics to a “strong-buy” rating in a research report on Tuesday, October 8th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of General Dynamics from $320.00 to $314.00 and set a “hold” rating on the stock in a research report on Thursday, October 3rd. Barclays lifted their price target on shares of General Dynamics from $310.00 to $325.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. Seaport Res Ptn cut shares of General Dynamics from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 11th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $320.00 price target on shares of General Dynamics in a research report on Thursday, July 25th. Seven analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $320.18.

General Dynamics Stock Down 0.5 %

Shares of GD stock opened at $304.40 on Thursday. 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 Co. has a 1 year low of $232.29 and a 1 year high of $313.11. The firm’s fifty day moving average price is $300.17 and its two-hundred day moving average price is $294.55. The firm has a market capitalization of $83.52 billion, a P/E ratio of 24.83, a PEG ratio of 1.67 and a beta of 0.61.

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). General Dynamics had a net margin of 7.89% and a return on equity of 16.74%. The business had revenue of $11.98 billion during the quarter, compared to analyst estimates of $11.46 billion. During the same quarter in the previous year, the firm posted $2.70 earnings per share. The firm’s quarterly revenue was up 18.0% on a year-over-year basis. On average, equities analysts predict that General Dynamics Co. will post 14.38 EPS for the current fiscal 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 paid a $1.42 dividend. The ex-dividend date is Friday, October 11th. This represents a $5.68 annualized dividend and a yield of 1.87%. General Dynamics’s payout ratio is currently 46.33%.

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.