Seven Eight Capital LP Makes New Investment in General Dynamics Co. (NYSE:GD)

Seven Eight Capital LP acquired a new stake in General Dynamics Co. (NYSE:GD - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 19,203 shares of the aerospace company's stock, valued at approximately $5,572,000. General Dynamics comprises about 0.6% of Seven Eight Capital LP's portfolio, making the stock its 14th biggest holding.

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

General Dynamics Stock Down 0.5 %

Shares of General Dynamics stock traded down $1.45 during trading on Wednesday, reaching $302.40. 1,155,773 shares of the company traded hands, compared to its average volume of 1,064,739. 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 has a market capitalization of $82.97 billion, a PE ratio of 24.67, a P/E/G ratio of 1.64 and a beta of 0.61. The company has a 50 day moving average price of $293.92 and a 200-day moving average price of $290.64. General Dynamics Co. has a 1-year low of $214.53 and a 1-year high of $309.97.

General Dynamics (NYSE:GD - Get Free Report) last released its quarterly earnings data on Wednesday, July 24th. The aerospace company reported $3.26 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 the consensus estimate of $11.46 billion. During the same period last year, the company earned $2.70 EPS. General Dynamics's revenue for the quarter was up 18.0% compared to the same quarter last year. As a group, equities research analysts expect that General Dynamics Co. will post 14.52 earnings per share for the current fiscal year.

General Dynamics Dividend Announcement

The company 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 $1.42 dividend. This represents a $5.68 dividend on an annualized basis and a dividend yield of 1.88%. The ex-dividend date is Friday, October 11th. General Dynamics's dividend payout ratio is currently 46.33%.

Insider Activity at General Dynamics

In related news, Director Peter A. Wall sold 1,320 shares of the company's stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $308.05, for a total value of $406,626.00. Following the sale, the director now owns 3,592 shares in the company, valued at approximately $1,106,515.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 1.52% of the stock is currently owned by insiders.

Analyst Ratings Changes

GD has been the subject of several research reports. Barclays increased their target price on General Dynamics from $310.00 to $325.00 and gave the company an "overweight" rating in a research report on Tuesday, July 30th. Robert W. Baird reissued an "outperform" rating and set a $345.00 target price on shares of General Dynamics in a report on Tuesday, July 2nd. Sanford C. Bernstein raised their price target on shares of General Dynamics from $290.00 to $302.00 and gave the company a "market perform" rating in a research note on Thursday, May 23rd. BTIG Research started coverage on General Dynamics in a report on Wednesday, June 26th. They issued a "buy" rating and a $345.00 price objective for the company. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and set a $320.00 target price on shares of General Dynamics in a report on Thursday, July 25th. Six research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, General Dynamics currently has a consensus rating of "Moderate Buy" and an average price target 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.