Insight Inv LLC Acquires 350 Shares of General Dynamics Co. (NYSE:GD)

Insight Inv LLC raised its stake in shares of General Dynamics Co. (NYSE:GD) by 4.5% during the 2nd quarter, Holdings Channel reports. The fund owned 8,060 shares of the aerospace company’s stock after purchasing an additional 350 shares during the period. General Dynamics comprises approximately 2.0% of Insight Inv LLC’s holdings, making the stock its 15th largest position. Insight Inv LLC’s holdings in General Dynamics were worth $2,339,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Redmont Wealth Advisors LLC acquired a new stake in General Dynamics in the first quarter valued at approximately $25,000. Richardson Financial Services Inc. purchased a new stake in shares of General Dynamics during the 4th quarter valued at $25,000. American Capital Advisory LLC acquired a new stake in shares of General Dynamics in the 2nd quarter worth $29,000. Financial Synergies Wealth Advisors Inc. purchased a new position in General Dynamics during the 1st quarter worth $29,000. Finally, New Covenant Trust Company N.A. acquired a new position in General Dynamics during the 1st quarter valued at about $29,000. 86.14% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

GD has been the topic of a number of research analyst reports. Royal Bank of Canada restated an “outperform” rating and set a $320.00 price target on shares of General Dynamics in a research note on Thursday, July 25th. Barclays boosted their target price on shares of General Dynamics from $310.00 to $325.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. BTIG Research began coverage on shares of General Dynamics in a research note on Wednesday, June 26th. They set a “buy” rating and a $345.00 price objective for the company. Wells Fargo & Company upped their target price on General Dynamics from $330.00 to $334.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. Finally, Robert W. Baird reaffirmed an “outperform” rating and set a $345.00 price target on shares of General Dynamics in a research report on Tuesday, July 2nd. Six investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $315.06.

General Dynamics Price Performance

Shares of NYSE GD opened at $301.56 on Tuesday. 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 firm’s 50 day simple moving average is $291.07 and its 200-day simple moving average is $289.30. General Dynamics Co. has a 12 month low of $214.53 and a 12 month high of $303.10. The stock has a market capitalization of $82.86 billion, a price-to-earnings ratio of 24.60, a PEG ratio of 1.60 and a beta of 0.61.

General Dynamics (NYSE:GD) last released its quarterly earnings results 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 analyst estimates of $11.46 billion. General Dynamics had a net margin of 7.89% and a return on equity of 16.74%. The firm’s quarterly revenue was up 18.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.70 EPS. Analysts expect that General Dynamics Co. will post 14.52 EPS for the current year.

General Dynamics Announces Dividend

The firm also recently declared 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. The ex-dividend date of this dividend is Friday, October 11th. This represents a $5.68 dividend on an annualized basis and a yield of 1.88%. General Dynamics’s payout ratio is 46.33%.

General Dynamics Company Profile

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.