Spectrum Asset Management Inc. NB CA Increases Stock Position in General Dynamics Co. (NYSE:GD)

Spectrum Asset Management Inc. NB CA lifted its position in shares of General Dynamics Co. (NYSE:GD) by 14.6% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 16,392 shares of the aerospace company’s stock after purchasing an additional 2,085 shares during the period. General Dynamics comprises about 2.1% of Spectrum Asset Management Inc. NB CA’s holdings, making the stock its 12th largest position. Spectrum Asset Management Inc. NB CA’s holdings in General Dynamics were worth $4,954,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in GD. International Assets Investment Management LLC raised its position in General Dynamics by 40,389.3% in the third quarter. International Assets Investment Management LLC now owns 1,379,472 shares of the aerospace company’s stock worth $416,876,000 after acquiring an additional 1,376,065 shares in the last quarter. Axecap Investments LLC purchased a new position in General Dynamics in the 3rd quarter valued at approximately $3,271,000. MFA Wealth Advisors LLC increased its position in shares of General Dynamics by 241.7% in the third quarter. MFA Wealth Advisors LLC now owns 82 shares of the aerospace company’s stock valued at $25,000 after buying an additional 58 shares in the last quarter. U.S. Capital Wealth Advisors LLC increased its position in shares of General Dynamics by 4.0% in the third quarter. U.S. Capital Wealth Advisors LLC now owns 38,102 shares of the aerospace company’s stock valued at $11,514,000 after buying an additional 1,460 shares in the last quarter. Finally, Coston McIsaac & Partners raised its stake in shares of General Dynamics by 22.8% during the 3rd quarter. Coston McIsaac & Partners now owns 178 shares of the aerospace company’s stock worth $53,000 after buying an additional 33 shares during the last quarter. Hedge funds and other institutional investors own 86.14% of the company’s stock.

General Dynamics Trading Down 0.5 %

Shares of NYSE:GD opened at $304.40 on Thursday. The company has a quick ratio of 0.80, a current ratio of 1.33 and a debt-to-equity ratio of 0.33. The company’s 50-day moving average price is $300.17 and its 200 day moving average price is $294.55. The company has a market cap of $83.52 billion, a PE ratio of 24.83, a P/E/G ratio of 1.67 and a beta of 0.61. General Dynamics Co. has a fifty-two week low of $232.29 and a fifty-two week high of $313.11.

General Dynamics (NYSE:GD) last announced its quarterly earnings results 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). The business had revenue of $11.98 billion for the quarter, compared to analyst estimates of $11.46 billion. General Dynamics had a return on equity of 16.74% and a net margin of 7.89%. The company’s revenue was up 18.0% compared to the same quarter last year. During the same quarter last year, the firm posted $2.70 EPS. Sell-side analysts anticipate that General Dynamics Co. will post 14.38 earnings per share for the current year.

General Dynamics Announces Dividend

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

Analyst Ratings Changes

A number of research analysts have recently weighed in on the stock. BTIG Research started 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. Robert W. Baird reissued an “outperform” rating and issued a $345.00 price objective on shares of General Dynamics in a research report on Tuesday, July 2nd. Citigroup increased their price target on General Dynamics from $331.00 to $354.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Barclays increased their target price on General Dynamics from $310.00 to $325.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. Finally, Seaport Res Ptn lowered shares of General Dynamics from a “strong-buy” rating to a “hold” rating in a report on Friday, October 11th. Seven research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, General Dynamics has an average rating of “Moderate Buy” and an average target price of $320.18.

Insider Activity at General Dynamics

In other General Dynamics news, Director Peter A. Wall sold 1,320 shares of the business’s stock in a transaction 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 sale, the director now directly owns 3,592 shares of the company’s stock, valued at $1,106,515.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company 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.