General Dynamics Corporation $GD Shares Bought by Park Avenue Securities LLC

Park Avenue Securities LLC increased its stake in shares of General Dynamics Corporation (NYSE:GD) by 11.9% in the third quarter, Holdings Channel.com reports. The firm owned 16,640 shares of the aerospace company’s stock after buying an additional 1,775 shares during the quarter. Park Avenue Securities LLC’s holdings in General Dynamics were worth $5,522,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Caisse de depot et placement du Quebec increased its holdings in General Dynamics by 454.0% in the 2nd quarter. Caisse de depot et placement du Quebec now owns 180,917 shares of the aerospace company’s stock worth $64,088,000 after purchasing an additional 148,262 shares in the last quarter. Empowered Funds LLC bought a new position in General Dynamics in the second quarter valued at about $21,368,000. United Capital Financial Advisors LLC acquired a new stake in shares of General Dynamics during the second quarter valued at about $30,781,000. Professional Advisory Services Inc. boosted its stake in shares of General Dynamics by 4.0% during the second quarter. Professional Advisory Services Inc. now owns 67,028 shares of the aerospace company’s stock valued at $23,744,000 after purchasing an additional 2,562 shares in the last quarter. Finally, FSA Advisors Inc. bought a new stake in shares of General Dynamics during the second quarter worth about $1,254,000. Institutional investors own 86.14% of the company’s stock.

Insider Activity at General Dynamics

In other General Dynamics news, EVP Marguerite Gilliland sold 43,180 shares of the company’s stock in a transaction on Friday, July 31st. The shares were sold at an average price of $378.04, for a total transaction of $16,323,767.20. Following the sale, the executive vice president owned 44,767 shares of the company’s stock, valued at approximately $16,923,716.68. This represents a 49.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Phebe Novakovic sold 51,568 shares of the stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $382.58, for a total value of $19,728,885.44. Following the sale, the chief executive officer owned 766,457 shares of the company’s stock, valued at approximately $293,231,119.06. The trade was a 6.30% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 102,188 shares of company stock worth $38,627,265 over the last quarter. Company insiders own 1.40% of the company’s stock.

General Dynamics Stock Down 0.2%

Shares of NYSE GD opened at $354.26 on Thursday. The company has a market capitalization of $95.85 billion, a P/E ratio of 21.61, a price-to-earnings-growth ratio of 2.04 and a beta of 0.33. General Dynamics Corporation has a 52-week low of $306.77 and a 52-week high of $400.00. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.96 and a current ratio of 1.44. The company’s 50 day moving average price is $352.16 and its 200-day moving average price is $354.92.

General Dynamics (NYSE:GD) last posted its quarterly earnings data on Wednesday, July 29th. The aerospace company reported $4.24 EPS for the quarter, beating analysts’ consensus estimates of $3.96 by $0.28. General Dynamics had a net margin of 8.18% and a return on equity of 17.43%. The company had revenue of $14.09 billion for the quarter, compared to analyst estimates of $13.52 billion. During the same period in the prior year, the firm posted $3.74 EPS. The company’s quarterly revenue was up 8.1% on a year-over-year basis. Equities analysts forecast that General Dynamics Corporation will post 16.99 earnings per share for the current year.

General Dynamics Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Friday, October 9th will be issued a $1.59 dividend. The ex-dividend date is Friday, October 9th. This represents a $6.36 annualized dividend and a yield of 1.8%. General Dynamics’s payout ratio is presently 38.80%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on GD shares. Robert W. Baird set a $430.00 price objective on General Dynamics in a research note on Thursday, July 30th. Susquehanna lifted their target price on shares of General Dynamics from $420.00 to $455.00 and gave the stock a “positive” rating in a research report on Thursday, July 30th. Wells Fargo & Company boosted their target price on shares of General Dynamics from $400.00 to $440.00 and gave the stock an “overweight” rating in a report on Tuesday, August 4th. Weiss Ratings restated a “buy (b)” rating on shares of General Dynamics in a research report on Monday, September 28th. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $384.00 price target on shares of General Dynamics in a research report on Thursday, July 30th. Eleven investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $402.44.

General Dynamics Company Profile

General Dynamics Corporation (NYSE: GD) is a global aerospace and defense company that develops, manufactures and supports products and services for government and commercial customers. Its operations serve the U.S. government, allied nations and other customers worldwide, with a significant focus on national security, military modernization and mission support.

The company operates through four primary business areas. Aerospace provides Gulfstream business jets and related aircraft services through Gulfstream Aerospace, as well as aircraft management, charter, maintenance and completions services through Jet Aviation.