General Dynamics Co. (NYSE:GD) Position Raised by State of Michigan Retirement System

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State of Michigan Retirement System raised its position in shares of General Dynamics Co. (NYSE:GD) by 10.6% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 59,302 shares of the aerospace company’s stock after purchasing an additional 5,675 shares during the quarter. State of Michigan Retirement System’s holdings in General Dynamics were worth $8,863,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the company. Security National Trust Co. lifted its stake in General Dynamics by 123.0% during the first quarter. Security National Trust Co. now owns 223 shares of the aerospace company’s stock valued at $30,000 after purchasing an additional 123 shares during the last quarter. Larson Financial Group LLC bought a new stake in shares of General Dynamics during the 2nd quarter worth $30,000. Key Financial Inc acquired a new position in shares of General Dynamics in the 1st quarter worth $31,000. FinTrust Capital Advisors LLC grew its holdings in shares of General Dynamics by 95.3% in the 1st quarter. FinTrust Capital Advisors LLC now owns 289 shares of the aerospace company’s stock worth $38,000 after acquiring an additional 141 shares during the last quarter. Finally, BDO Wealth Advisors LLC lifted its holdings in shares of General Dynamics by 91.4% during the first quarter. BDO Wealth Advisors LLC now owns 291 shares of the aerospace company’s stock valued at $38,000 after purchasing an additional 139 shares during the last quarter. Institutional investors own 85.57% of the company’s stock.

Shares of NYSE GD opened at $146.74 on Friday. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.27 and a quick ratio of 0.97. General Dynamics Co. has a one year low of $100.55 and a one year high of $193.76. The business’s 50-day moving average price is $148.68 and its two-hundred day moving average price is $151.85. The company has a market capitalization of $42.09 billion, a P/E ratio of 13.03, a price-to-earnings-growth ratio of 2.46 and a beta of 1.05.

General Dynamics (NYSE:GD) last announced its quarterly earnings results on Wednesday, July 29th. The aerospace company reported $2.18 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.15 by $0.03. General Dynamics had a return on equity of 24.10% and a net margin of 8.47%. The business had revenue of $9.26 billion during the quarter, compared to analyst estimates of $9.03 billion. During the same period in the previous year, the company earned $2.77 EPS. The firm’s revenue was down 3.0% on a year-over-year basis. On average, equities analysts anticipate that General Dynamics Co. will post 11.12 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 7th. Stockholders of record on Friday, July 3rd will be paid a dividend of $1.10 per share. The ex-dividend date is Wednesday, July 1st. This represents a $4.40 annualized dividend and a dividend yield of 3.00%. General Dynamics’s dividend payout ratio (DPR) is 36.73%.

Several research firms have issued reports on GD. TheStreet downgraded General Dynamics from a “b-” rating to a “c+” rating in a report on Thursday, July 9th. Susquehanna Bancshares boosted their price target on shares of General Dynamics from $167.00 to $184.00 and gave the company a “positive” rating in a report on Thursday, June 4th. Stifel Nicolaus decreased their price objective on shares of General Dynamics from $180.00 to $160.00 and set a “hold” rating for the company in a research note on Thursday. UBS Group lowered their price objective on shares of General Dynamics from $190.00 to $171.00 and set a “neutral” rating on the stock in a research report on Thursday, June 11th. Finally, Argus reduced their target price on General Dynamics from $199.00 to $155.00 and set a “buy” rating for the company in a report on Wednesday, May 6th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and ten have issued a buy rating to the company’s stock. General Dynamics has a consensus rating of “Buy” and a consensus price target of $183.57.

General Dynamics Company Profile

General Dynamics Corporation operates as an aerospace and defense company worldwide. It operates in five segments: Aerospace, Combat Systems, Information Technology, Mission Systems, and Marine Systems. The Aerospace segment designs, manufactures, and supports business-jet aircraft; and offers business-aviation services, including maintenance, fixed-base operation, government fleet, aircraft management, charter, and staffing services, as well as integrated aviation solutions.

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

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