Virtu Financial LLC Acquires 8,362 Shares of General Dynamics Co. (NYSE:GD)

Virtu Financial LLC increased its position in shares of General Dynamics Co. (NYSE:GD - Free Report) by 187.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 12,821 shares of the aerospace company's stock after purchasing an additional 8,362 shares during the quarter. Virtu Financial LLC's holdings in General Dynamics were worth $3,720,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Gladstone Capital Management LLP purchased a new position in General Dynamics in the fourth quarter valued at about $3,869,000. SWP Financial LLC bought a new stake in shares of General Dynamics in the fourth quarter valued at approximately $227,000. Sanibel Captiva Trust Company Inc. bought a new position in General Dynamics in the 4th quarter worth approximately $28,107,000. Evercore Wealth Management LLC boosted its holdings in General Dynamics by 1.5% in the 4th quarter. Evercore Wealth Management LLC now owns 5,355 shares of the aerospace company's stock worth $1,391,000 after buying an additional 78 shares during the period. Finally, TD Asset Management Inc grew its stake in General Dynamics by 7.2% in the 4th quarter. TD Asset Management Inc now owns 80,280 shares of the aerospace company's stock valued at $20,846,000 after buying an additional 5,405 shares in the last quarter. 86.14% of the stock is currently owned by hedge funds and other institutional investors.

General Dynamics Price Performance

Shares of NYSE:GD traded down $3.70 during trading on Tuesday, reaching $303.85. The company had a trading volume of 1,045,626 shares, compared to its average volume of 1,064,396. The company has a fifty day moving average of $293.02 and a two-hundred day moving average of $290.34. The stock has a market capitalization of $83.37 billion, a P/E ratio of 24.86, a price-to-earnings-growth ratio of 1.64 and a beta of 0.61. General Dynamics Co. has a 12 month low of $214.53 and a 12 month high of $309.97. The company has a current ratio of 1.33, a quick ratio of 0.80 and a debt-to-equity ratio of 0.33.

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

General Dynamics Announces Dividend

The firm 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 dividend of $1.42 per share. This represents a $5.68 annualized dividend and a dividend yield of 1.87%. The ex-dividend date of this dividend is Friday, October 11th. General Dynamics's dividend payout ratio is currently 46.33%.

Analyst Ratings Changes

A number of equities analysts have recently commented on GD shares. BTIG Research initiated coverage on General Dynamics in a report on Wednesday, June 26th. They issued a "buy" rating and a $345.00 price target for the company. Robert W. Baird restated an "outperform" rating and issued a $345.00 target price on shares of General Dynamics in a research note on Tuesday, July 2nd. Wells Fargo & Company lifted their target price on General Dynamics from $330.00 to $334.00 and gave the company an "overweight" rating in a report on Thursday, July 25th. Deutsche Bank Aktiengesellschaft reissued a "hold" rating on shares of General Dynamics in a report on Monday, July 29th. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and set a $320.00 price objective on shares of General Dynamics in a research note on Thursday, July 25th. Six equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $315.06.

General Dynamics 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.