Richard Bernstein Advisors LLC Grows Position in General Dynamics Co. (NYSE:GD)

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Richard Bernstein Advisors LLC grew its stake in General Dynamics Co. (NYSE:GD) by 6.3% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 18,195 shares of the aerospace company’s stock after purchasing an additional 1,074 shares during the period. Richard Bernstein Advisors LLC’s holdings in General Dynamics were worth $3,392,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Adirondack Trust Co. raised its position in General Dynamics by 20.0% during the 2nd quarter. Adirondack Trust Co. now owns 1,600 shares of the aerospace company’s stock valued at $298,000 after purchasing an additional 267 shares in the last quarter. Bigelow Investment Advisors LLC increased its holdings in shares of General Dynamics by 6.0% in the 2nd quarter. Bigelow Investment Advisors LLC now owns 4,751 shares of the aerospace company’s stock valued at $886,000 after acquiring an additional 268 shares during the period. Oppenheimer & Co. Inc. increased its holdings in shares of General Dynamics by 1.0% in the 2nd quarter. Oppenheimer & Co. Inc. now owns 27,116 shares of the aerospace company’s stock valued at $5,054,000 after acquiring an additional 275 shares during the period. Mutual of America Capital Management LLC increased its holdings in shares of General Dynamics by 0.8% in the 2nd quarter. Mutual of America Capital Management LLC now owns 35,170 shares of the aerospace company’s stock valued at $6,556,000 after acquiring an additional 277 shares during the period. Finally, KCM Investment Advisors LLC increased its holdings in shares of General Dynamics by 1.6% in the 1st quarter. KCM Investment Advisors LLC now owns 17,551 shares of the aerospace company’s stock valued at $3,877,000 after acquiring an additional 278 shares during the period. 85.48% of the stock is owned by institutional investors and hedge funds.

GD has been the topic of several research analyst reports. Drexel Hamilton restated a “buy” rating and set a $230.00 target price on shares of General Dynamics in a research note on Thursday, August 16th. Morgan Stanley lowered their price target on General Dynamics from $215.00 to $207.00 and set an “underweight” rating for the company in a research report on Friday, June 22nd. UBS Group assumed coverage on General Dynamics in a research report on Wednesday, August 15th. They set a “neutral” rating and a $210.00 price target for the company. Zacks Investment Research cut General Dynamics from a “hold” rating to a “sell” rating in a report on Tuesday, June 26th. Finally, ValuEngine raised General Dynamics from a “sell” rating to a “hold” rating in a report on Saturday, July 28th. Three analysts have rated the stock with a sell rating, six have given a hold rating and ten have assigned a buy rating to the company. General Dynamics presently has a consensus rating of “Hold” and a consensus target price of $239.39.

General Dynamics stock traded up $1.94 during mid-day trading on Friday, hitting $200.51. The company’s stock had a trading volume of 990,126 shares, compared to its average volume of 876,938. The firm has a market capitalization of $58.28 billion, a price-to-earnings ratio of 20.15, a PEG ratio of 1.57 and a beta of 0.79. General Dynamics Co. has a 1 year low of $184.21 and a 1 year high of $230.00. 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 issued its quarterly earnings data on Wednesday, July 25th. The aerospace company reported $2.82 earnings per share for the quarter, topping 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 company had revenue of $9.19 billion during the quarter, compared to analyst estimates of $9.09 billion. During the same period in the prior year, the business posted $2.45 earnings per share. The firm’s revenue for the quarter was up 19.7% compared to the same quarter last year. analysts forecast that General Dynamics Co. will post 11.22 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, November 9th. Shareholders of record on Friday, October 5th will be paid a dividend of $0.93 per share. This represents a $3.72 dividend on an annualized basis and a yield of 1.86%. The ex-dividend date is Thursday, October 4th. General Dynamics’s dividend payout ratio (DPR) is 37.39%.

In other General Dynamics news, insider John Patrick Casey sold 22,500 shares of the company’s stock in a transaction on Monday, July 16th. The stock was sold at an average price of $191.99, for a total transaction of $4,319,775.00. Following the transaction, the insider now directly owns 118,555 shares in the company, valued at $22,761,374.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 6.70% of the stock is owned by corporate insiders.

About General Dynamics

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.

Further Reading: Outstanding Shares, Buying and Selling Stocks

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

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