Financial Partners Group LLC Acquires Shares of 851 General Dynamics Co. (NYSE:GD)

Financial Partners Group LLC bought a new stake in shares of General Dynamics Co. (NYSE:GD) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 851 shares of the aerospace company’s stock, valued at approximately $247,000.

A number of other institutional investors also recently bought and sold shares of the stock. Norges Bank bought a new position in shares of General Dynamics in the 4th quarter worth approximately $728,284,000. Verity & Verity LLC purchased a new stake in shares of General Dynamics in the 1st quarter worth about $179,000. 1832 Asset Management L.P. lifted its position in General Dynamics by 3,645.4% during the 4th quarter. 1832 Asset Management L.P. now owns 558,586 shares of the aerospace company’s stock valued at $145,048,000 after acquiring an additional 543,672 shares during the period. Public Employees Retirement Association of Colorado boosted its stake in General Dynamics by 879.9% during the first quarter. Public Employees Retirement Association of Colorado now owns 340,359 shares of the aerospace company’s stock worth $96,148,000 after acquiring an additional 305,624 shares in the last quarter. Finally, Junto Capital Management LP purchased a new stake in General Dynamics in the fourth quarter worth about $43,733,000. 86.14% of the stock is owned by institutional investors.

General Dynamics Stock Performance

GD stock traded down $1.79 during midday trading on Monday, reaching $291.20. 1,054,784 shares of the company’s stock traded hands, compared to its average volume of 1,070,457. General Dynamics Co. has a 52-week low of $214.53 and a 52-week high of $302.75. The stock’s 50-day moving average is $291.12 and its 200 day moving average is $285.50. The stock has a market cap of $79.89 billion, a P/E ratio of 23.75, a PEG ratio of 1.68 and a beta of 0.60. 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 (NYSE:GD) last announced its quarterly earnings data on Wednesday, July 24th. The aerospace company reported $3.26 EPS for the quarter, missing the consensus estimate of $3.30 by ($0.04). The firm had revenue of $11.98 billion for the quarter, compared to the consensus estimate of $11.46 billion. General Dynamics had a net margin of 7.89% and a return on equity of 16.74%. The firm’s revenue for the quarter was up 18.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.70 earnings per share. As a group, analysts anticipate that General Dynamics Co. will post 14.5 EPS for the current year.

General Dynamics Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, October 11th will be paid a dividend of $1.42 per share. The ex-dividend date is Friday, October 11th. This represents a $5.68 annualized dividend and a yield of 1.95%. General Dynamics’s payout ratio is 46.33%.

Insider Activity

In other news, CFO Kimberly A. Kuryea sold 13,344 shares of the business’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $298.16, for a total value of $3,978,647.04. Following the sale, the chief financial officer now directly owns 79,255 shares in the company, valued at approximately $23,630,670.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CFO Kimberly A. Kuryea sold 13,344 shares of the firm’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $298.16, for a total value of $3,978,647.04. Following the completion of the sale, the chief financial officer now owns 79,255 shares in the company, valued at approximately $23,630,670.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Mark Lagrand Burns sold 12,089 shares of the business’s stock in a transaction that occurred on Friday, May 17th. The shares were sold at an average price of $296.59, for a total value of $3,585,476.51. Following the transaction, the vice president now owns 64,132 shares of the company’s stock, valued at approximately $19,020,909.88. The disclosure for this sale can be found here. Company insiders own 1.52% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on GD. Sanford C. Bernstein boosted their price target on General Dynamics from $290.00 to $302.00 and gave the stock a “market perform” rating in a research report on Thursday, May 23rd. Barclays lifted their price target on General Dynamics from $310.00 to $325.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. Argus raised their price objective on shares of General Dynamics from $290.00 to $310.00 and gave the company a “buy” rating in a research note on Monday, April 29th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of General Dynamics in a report on Monday, July 29th. Finally, Wells Fargo & Company boosted their price objective on shares of General Dynamics from $330.00 to $334.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. Six research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $315.06.

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.