Blair William & Co. IL Buys 26,977 Shares of General Dynamics Co. (NYSE:GD)

Blair William & Co. IL increased its position in shares of General Dynamics Co. (NYSE:GD) by 8.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 348,825 shares of the aerospace company’s stock after purchasing an additional 26,977 shares during the quarter. Blair William & Co. IL’s holdings in General Dynamics were worth $101,208,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Vanguard Personalized Indexing Management LLC grew its position in General Dynamics by 14.0% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 27,802 shares of the aerospace company’s stock valued at $8,065,000 after buying an additional 3,408 shares during the period. Amalgamated Bank increased its holdings in General Dynamics by 1.5% during the 2nd quarter. Amalgamated Bank now owns 48,426 shares of the aerospace company’s stock worth $14,050,000 after acquiring an additional 726 shares during the period. Meiji Yasuda Asset Management Co Ltd. raised its position in shares of General Dynamics by 7.5% in the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 7,975 shares of the aerospace company’s stock worth $2,314,000 after buying an additional 553 shares in the last quarter. Argent Trust Co raised its holdings in shares of General Dynamics by 3.6% in the 2nd quarter. Argent Trust Co now owns 15,789 shares of the aerospace company’s stock valued at $4,581,000 after acquiring an additional 548 shares in the last quarter. Finally, Wealth Alliance lifted its position in General Dynamics by 17.4% during the second quarter. Wealth Alliance now owns 1,206 shares of the aerospace company’s stock valued at $350,000 after purchasing an additional 179 shares during the last quarter. Hedge funds and other institutional investors own 86.14% of the company’s stock.

General Dynamics Stock Performance

Shares of GD opened at $303.85 on Wednesday. General Dynamics Co. has a one year low of $214.53 and a one year high of $309.97. The firm has a market capitalization of $83.37 billion, a P/E ratio of 24.78, a PEG ratio of 1.64 and a beta of 0.61. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.33 and a quick ratio of 0.80. The business has a fifty day moving average of $293.51 and a 200 day moving average of $290.56.

General Dynamics (NYSE:GD) last issued its quarterly earnings data on Wednesday, July 24th. The aerospace company reported $3.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $11.46 billion. During the same period in the previous year, the firm earned $2.70 EPS. The company’s revenue was up 18.0% on a year-over-year basis. As a group, sell-side analysts anticipate that General Dynamics Co. will post 14.52 EPS for the current year.

General Dynamics Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, October 11th will be issued a $1.42 dividend. This represents a $5.68 annualized dividend and a yield of 1.87%. The ex-dividend date of this dividend is Friday, October 11th. General Dynamics’s dividend payout ratio is 46.33%.

Analysts Set New Price Targets

GD has been the topic of several recent research reports. Barclays increased their price objective on General Dynamics from $310.00 to $325.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. Wells Fargo & Company boosted their price objective on shares of General Dynamics from $330.00 to $334.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. Sanford C. Bernstein raised their price target on General Dynamics from $290.00 to $302.00 and gave the stock a “market perform” rating in a research note on Thursday, May 23rd. BTIG Research started coverage on General Dynamics in a research report on Wednesday, June 26th. They set a “buy” rating and a $345.00 price objective on the stock. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of General Dynamics in a research report on Monday, July 29th. Six equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, General Dynamics has an average rating of “Moderate Buy” and an average 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.