ING Groep NV boosted its stake in shares of General Dynamics Co. (NYSE:GD) by 4.8% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 29,579 shares of the aerospace company’s stock after buying an additional 1,363 shares during the period. ING Groep NV’s holdings in General Dynamics were worth $5,514,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Bank of Montreal Can purchased a new stake in General Dynamics in the second quarter worth $258,844,000. Millennium Management LLC increased its stake in General Dynamics by 234.2% in the first quarter. Millennium Management LLC now owns 931,892 shares of the aerospace company’s stock worth $205,855,000 after purchasing an additional 653,083 shares during the period. Levin Capital Strategies L.P. purchased a new stake in General Dynamics in the second quarter worth $68,282,000. CI Investments Inc. increased its stake in General Dynamics by 122.8% in the first quarter. CI Investments Inc. now owns 463,073 shares of the aerospace company’s stock worth $102,293,000 after purchasing an additional 255,188 shares during the period. Finally, Chevy Chase Trust Holdings Inc. purchased a new stake in General Dynamics in the second quarter worth $43,807,000. Institutional investors own 85.47% of the company’s stock.

In related news, insider John Patrick Casey sold 22,500 shares of the firm’s stock in a transaction dated 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 sale, the insider now owns 118,555 shares of the company’s stock, valued at $22,761,374.45. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 6.70% of the stock is currently owned by corporate insiders.

A number of research firms have weighed in on GD. Drexel Hamilton reiterated a “buy” rating and issued a $230.00 target price on shares of General Dynamics in a research note on Thursday, August 16th. Morgan Stanley reduced their target price on General Dynamics from $215.00 to $207.00 and set an “underweight” rating on the stock in a research note on Friday, June 22nd. UBS Group began coverage on General Dynamics in a research note on Wednesday, August 15th. They issued a “neutral” rating and a $210.00 target price on the stock. Zacks Investment Research lowered General Dynamics from a “hold” rating to a “sell” rating in a research note on Tuesday, June 26th. Finally, ValuEngine upgraded General Dynamics from a “sell” rating to a “hold” rating in a research note on Saturday, July 28th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and ten have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $239.39.

GD opened at $192.51 on Friday. General Dynamics Co. has a 12-month low of $184.21 and a 12-month 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. The firm has a market cap of $58.11 billion, a PE ratio of 19.35, a PEG ratio of 1.57 and a beta of 0.83.

General Dynamics (NYSE:GD) last posted its quarterly earnings results on Wednesday, July 25th. The aerospace company reported $2.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.49 by $0.33. General Dynamics had a return on equity of 27.06% and a net margin of 9.16%. The business had revenue of $9.19 billion for the quarter, compared to the consensus estimate of $9.09 billion. During the same quarter in the prior year, the company earned $2.45 EPS. The business’s revenue was up 19.7% compared to the same quarter last year. equities analysts expect that General Dynamics Co. will post 11.25 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, November 9th. Stockholders of record on Friday, October 5th will be given a dividend of $0.93 per share. This represents a $3.72 dividend on an annualized basis and a dividend yield of 1.93%. The ex-dividend date is Thursday, October 4th. General Dynamics’s payout ratio is 37.39%.

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.

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

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