Aperio Group LLC Boosts Stake in General Dynamics Co. (GD)

Aperio Group LLC lifted its position in shares of General Dynamics Co. (NYSE:GD) by 1.2% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 189,780 shares of the aerospace company’s stock after buying an additional 2,321 shares during the quarter. Aperio Group LLC’s holdings in General Dynamics were worth $38,852,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. CX Institutional purchased a new stake in General Dynamics during the 2nd quarter worth about $107,000. CSat Investment Advisory L.P. purchased a new stake in General Dynamics during the 2nd quarter worth about $101,000. James Investment Research Inc. purchased a new stake in General Dynamics during the 2nd quarter worth about $112,000. BerganKDV Wealth Management LLC purchased a new stake in General Dynamics during the 2nd quarter worth about $114,000. Finally, Fort L.P. purchased a new stake in General Dynamics during the 2nd quarter worth about $117,000. 85.45% of the stock is currently owned by institutional investors and hedge funds.

A number of brokerages recently issued reports on GD. Zacks Investment Research cut General Dynamics from a “hold” rating to a “sell” rating in a report on Tuesday, June 26th. Morgan Stanley dropped their price objective on General Dynamics from $215.00 to $207.00 and set an “underweight” rating on the stock in a report on Friday, June 22nd. Credit Suisse Group increased their price objective on General Dynamics from $224.00 to $229.00 and gave the stock an “outperform” rating in a report on Thursday, July 26th. Drexel Hamilton reissued a “buy” rating and set a $230.00 price objective on shares of General Dynamics in a report on Thursday, August 16th. Finally, UBS Group began coverage on General Dynamics in a report on Wednesday, August 15th. They set a “neutral” rating and a $210.00 price objective on the stock. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and ten have given a buy rating to the stock. General Dynamics has an average rating of “Hold” and an average target price of $241.12.

NYSE:GD opened at $190.26 on Friday. General Dynamics Co. has a twelve month low of $184.21 and a twelve month high of $230.00. The stock has a market capitalization of $57.58 billion, a price-to-earnings ratio of 19.12, a price-to-earnings-growth ratio of 1.55 and a beta of 0.78. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.84 and a current ratio of 1.20.

General Dynamics (NYSE:GD) last released its quarterly earnings results on Wednesday, July 25th. The aerospace company reported $2.82 earnings per share for the quarter, beating the consensus estimate of $2.49 by $0.33. General Dynamics had a return on equity of 27.06% and a net margin of 9.16%. The firm had revenue of $9.19 billion for the quarter, compared to analysts’ expectations of $9.09 billion. During the same quarter last year, the firm posted $2.45 EPS. The company’s revenue was up 19.7% compared to the same quarter last year. As a group, research analysts expect that General Dynamics Co. will post 11.23 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 9th. Shareholders of record on Friday, October 5th will be issued a $0.93 dividend. The ex-dividend date is Thursday, October 4th. This represents a $3.72 annualized dividend and a dividend yield of 1.96%. General Dynamics’s payout ratio is currently 37.39%.

In other General Dynamics news, insider S. Daniel Johnson sold 77,810 shares of the firm’s stock in a transaction dated Friday, September 14th. The stock was sold at an average price of $199.85, for a total value of $15,550,328.50. Following the sale, the insider now owns 99,333 shares of the company’s stock, valued at approximately $19,851,700.05. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider John Patrick Casey sold 22,500 shares of the firm’s stock in a transaction dated Monday, October 15th. The shares were sold at an average price of $193.28, for a total value of $4,348,800.00. Following the completion of the sale, the insider now directly owns 118,555 shares in the company, valued at approximately $22,914,310.40. The disclosure for this sale can be found here. Company insiders own 6.70% of the company’s stock.

General Dynamics Company Profile

General Dynamics Corporation operates as an aerospace and defense company worldwide. It operates through four business groups: Aerospace; Combat Systems; Information Systems and Technology; and Marine Systems. The Aerospace group designs, develops, manufactures, service and supports business-jet aircraft; and provides aircraft services, such as maintenance, aircraft management, charter, fixed-base operational, and staffing services.

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Institutional Ownership by Quarter for General Dynamics (NYSE:GD)

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