2,573 Shares in General Dynamics Co. (NYSE:GD) Purchased by Sienna Gestion

Sienna Gestion purchased a new stake in shares of General Dynamics Co. (NYSE:GD - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 2,573 shares of the aerospace company's stock, valued at approximately $746,000.

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

General Dynamics Price Performance

Shares of NYSE GD traded up $2.39 during midday trading on Thursday, reaching $304.77. The company's stock had a trading volume of 1,188,120 shares, compared to its average volume of 1,065,485. The company has a market cap of $83.62 billion, a P/E ratio of 24.86, a P/E/G ratio of 1.64 and a beta of 0.61. General Dynamics Co. has a fifty-two week low of $214.53 and a fifty-two week high of $309.97. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.80 and a current ratio of 1.33. The business's 50 day moving average price is $294.33 and its two-hundred day moving average price is $290.74.

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

General Dynamics Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders 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 1.86%. The ex-dividend date of this dividend is Friday, October 11th. General Dynamics's dividend payout ratio is presently 46.33%.

Analyst Ratings Changes

A number of analysts recently commented on GD shares. Morgan Stanley upgraded General Dynamics from an "equal weight" rating to an "overweight" rating and lifted their price objective for the stock from $293.00 to $345.00 in a research report on Friday, August 9th. Robert W. Baird reissued an "outperform" rating and set a $345.00 price target on shares of General Dynamics in a research note on Tuesday, July 2nd. Barclays increased their price objective on shares of General Dynamics from $310.00 to $325.00 and gave the company an "overweight" rating in a report on Tuesday, July 30th. Wells Fargo & Company upped their target price on shares of General Dynamics from $330.00 to $334.00 and gave the company an "overweight" rating in a research report on Thursday, July 25th. Finally, Sanford C. Bernstein increased their price target on General Dynamics from $290.00 to $302.00 and gave the company a "market perform" rating in a research note on Thursday, May 23rd. Six investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. According to MarketBeat.com, General Dynamics currently has an average rating of "Moderate Buy" and an average target price of $315.06.

Insider Activity

In related news, Director Peter A. Wall sold 1,320 shares of the company's stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $308.05, for a total transaction of $406,626.00. Following the completion of the transaction, the director now directly owns 3,592 shares in the company, valued at approximately $1,106,515.60. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 1.52% of the company's stock.

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.