Pinnacle West Asset Management Inc. Increases Holdings in General Dynamics Co. (NYSE:GD)

Pinnacle West Asset Management Inc. grew its holdings in General Dynamics Co. (NYSE:GD) by 5.3% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 1,490 shares of the aerospace company’s stock after buying an additional 75 shares during the quarter. Pinnacle West Asset Management Inc.’s holdings in General Dynamics were worth $450,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. International Assets Investment Management LLC raised its holdings in General Dynamics by 40,389.3% in the 3rd quarter. International Assets Investment Management LLC now owns 1,379,472 shares of the aerospace company’s stock worth $416,876,000 after purchasing an additional 1,376,065 shares in the last quarter. 1832 Asset Management L.P. raised its stake in General Dynamics by 2,189.3% in the second quarter. 1832 Asset Management L.P. now owns 374,207 shares of the aerospace company’s stock worth $108,572,000 after buying an additional 357,861 shares in the last quarter. Public Employees Retirement Association of Colorado lifted its holdings in General Dynamics by 879.9% in the first quarter. Public Employees Retirement Association of Colorado now owns 340,359 shares of the aerospace company’s stock worth $96,148,000 after buying an additional 305,624 shares during the period. Massachusetts Financial Services Co. MA boosted its position in General Dynamics by 4.0% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 7,639,758 shares of the aerospace company’s stock valued at $2,216,599,000 after acquiring an additional 293,316 shares in the last quarter. Finally, Hsbc Holdings PLC grew its holdings in shares of General Dynamics by 24.2% during the 2nd quarter. Hsbc Holdings PLC now owns 1,347,247 shares of the aerospace company’s stock worth $391,119,000 after acquiring an additional 262,164 shares during the period. 86.14% of the stock is currently owned by institutional investors.

General Dynamics Stock Down 0.6 %

General Dynamics stock traded down $1.72 during trading hours on Thursday, hitting $302.68. The stock had a trading volume of 265,440 shares, compared to its average volume of 1,089,040. 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 stock has a market capitalization of $83.04 billion, a P/E ratio of 24.77, a price-to-earnings-growth ratio of 1.67 and a beta of 0.61. General Dynamics Co. has a 12-month low of $236.58 and a 12-month high of $313.11. The stock’s 50-day moving average price is $300.17 and its 200-day moving average price is $294.55.

General Dynamics (NYSE:GD) last released its quarterly earnings data on Wednesday, October 23rd. The aerospace company reported $3.35 earnings per share for the quarter, missing the consensus estimate of $3.48 by ($0.13). General Dynamics had a net margin of 7.89% and a return on equity of 16.74%. The company had revenue of $11.67 billion for the quarter, compared to analysts’ expectations of $11.65 billion. During the same period in the previous year, the firm earned $3.04 earnings per share. The firm’s revenue for the quarter was up 10.4% on a year-over-year basis. Equities research analysts anticipate that General Dynamics Co. will post 14.38 EPS 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. Stockholders of record on Friday, October 11th will be issued a dividend of $1.42 per share. The ex-dividend date is Friday, October 11th. This represents a $5.68 annualized dividend and a dividend yield of 1.88%. General Dynamics’s payout ratio is 46.33%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on GD. Robert W. Baird restated an “outperform” rating and set a $345.00 price target on shares of General Dynamics in a research report on Tuesday, July 2nd. TD Cowen raised shares of General Dynamics to a “strong-buy” rating in a research report on Tuesday, October 8th. Barclays increased their price target on shares of General Dynamics from $310.00 to $325.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of General Dynamics from $320.00 to $314.00 and set a “hold” rating on the stock in a report on Thursday, October 3rd. Finally, Citigroup lifted their target price on shares of General Dynamics from $331.00 to $354.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Seven 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 company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $321.06.

Insider Activity

In related news, Director Peter A. Wall sold 1,320 shares of the business’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 sale, the director now directly owns 3,592 shares in the company, valued at approximately $1,106,515.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.52% of the stock is owned by corporate insiders.

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.