General Dynamics Co. (NYSE:GD) Shares Bought by Caprock Group LLC

Caprock Group LLC boosted its stake in shares of General Dynamics Co. (NYSE:GD - Free Report) by 41.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,500 shares of the aerospace company's stock after acquiring an additional 2,511 shares during the quarter. Caprock Group LLC's holdings in General Dynamics were worth $2,466,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD boosted its holdings in shares of General Dynamics by 2.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 4,782,612 shares of the aerospace company's stock valued at $1,351,041,000 after purchasing an additional 115,063 shares during the period. Sanders Capital LLC grew its position in shares of General Dynamics by 3.7% during the 4th quarter. Sanders Capital LLC now owns 4,164,857 shares of the aerospace company's stock worth $1,081,488,000 after buying an additional 147,800 shares in the last quarter. Norges Bank purchased a new position in shares of General Dynamics during the fourth quarter valued at $728,284,000. Northern Trust Corp raised its holdings in shares of General Dynamics by 1.1% in the fourth quarter. Northern Trust Corp now owns 2,282,757 shares of the aerospace company's stock valued at $592,764,000 after acquiring an additional 24,395 shares in the last quarter. Finally, Boston Partners lifted its stake in General Dynamics by 1.4% in the first quarter. Boston Partners now owns 1,680,666 shares of the aerospace company's stock worth $474,927,000 after acquiring an additional 23,262 shares during the period. 86.14% of the stock is currently owned by hedge funds and other institutional investors.

General Dynamics Stock Performance

NYSE:GD traded up $8.78 during midday trading on Monday, hitting $301.56. The company's stock had a trading volume of 1,856,256 shares, compared to its average volume of 1,068,299. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.33 and a quick ratio of 0.80. General Dynamics Co. has a fifty-two week low of $214.53 and a fifty-two week high of $303.10. The firm's 50 day moving average is $290.80 and its 200-day moving average is $289.10. The firm has a market cap of $82.86 billion, a P/E ratio of 24.37, a P/E/G ratio of 1.60 and a beta of 0.61.

General Dynamics (NYSE:GD - Get Free Report) last announced its quarterly earnings results on Wednesday, July 24th. The aerospace company reported $3.26 earnings per share for the quarter, missing the consensus estimate of $3.30 by ($0.04). General Dynamics had a return on equity of 16.74% and a net margin of 7.89%. The company had revenue of $11.98 billion for the quarter, compared to analyst estimates of $11.46 billion. During the same period in the prior year, the business posted $2.70 earnings per share. General Dynamics's revenue for the quarter was up 18.0% on a year-over-year basis. Equities analysts anticipate that General Dynamics Co. will post 14.52 earnings per share for the current fiscal year.

General Dynamics Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, October 11th will be given a $1.42 dividend. The ex-dividend date of this dividend is Friday, October 11th. This represents a $5.68 annualized dividend and a yield of 1.88%. General Dynamics's dividend payout ratio is presently 46.33%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on GD shares. Wells Fargo & Company upped their price target on shares of General Dynamics from $330.00 to $334.00 and gave the stock an "overweight" rating in a research report on Thursday, July 25th. Morgan Stanley upgraded General Dynamics from an "equal weight" rating to an "overweight" rating and upped their target price for the stock from $293.00 to $345.00 in a report on Friday, August 9th. Robert W. Baird reissued an "outperform" rating and issued a $345.00 price target on shares of General Dynamics in a research report on Tuesday, July 2nd. Barclays raised 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. Finally, Royal Bank of Canada reiterated an "outperform" rating and issued a $320.00 target price on shares of General Dynamics in a report on Thursday, July 25th. Six investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $315.06.

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.