PDS Planning Inc Boosts Stake in General Dynamics Co. (NYSE:GD)

PDS Planning Inc boosted its position in shares of General Dynamics Co. (NYSE:GD) by 19.4% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 1,020 shares of the aerospace company’s stock after acquiring an additional 166 shares during the quarter. PDS Planning Inc’s holdings in General Dynamics were worth $308,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of the company. TKG Advisors LLC lifted its holdings in shares of General Dynamics by 1.4% during the third quarter. TKG Advisors LLC now owns 7,910 shares of the aerospace company’s stock worth $2,390,000 after purchasing an additional 107 shares during the period. QRG Capital Management Inc. boosted its holdings in shares of General Dynamics by 2.1% in the third quarter. QRG Capital Management Inc. now owns 19,473 shares of the aerospace company’s stock valued at $5,885,000 after acquiring an additional 394 shares in the last quarter. Asset Management One Co. Ltd. increased its stake in shares of General Dynamics by 1.9% during the third quarter. Asset Management One Co. Ltd. now owns 86,139 shares of the aerospace company’s stock worth $26,031,000 after acquiring an additional 1,569 shares during the period. National Pension Service lifted its position in General Dynamics by 17.1% in the third quarter. National Pension Service now owns 479,294 shares of the aerospace company’s stock valued at $144,843,000 after purchasing an additional 69,909 shares during the period. Finally, Intact Investment Management Inc. acquired a new stake in General Dynamics in the third quarter valued at about $73,000. 86.14% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently commented on GD. Deutsche Bank Aktiengesellschaft reduced their price target on General Dynamics from $309.00 to $306.00 and set a “hold” rating for the company in a report on Friday. Sanford C. Bernstein decreased their target price on shares of General Dynamics from $343.00 to $331.00 and set a “market perform” rating on the stock in a research report on Thursday, October 24th. TD Cowen upgraded shares of General Dynamics to a “strong-buy” rating in a report on Tuesday, October 8th. Morgan Stanley raised shares of General Dynamics from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $293.00 to $345.00 in a report on Friday, August 9th. Finally, Citigroup lifted their price target on shares of General Dynamics from $331.00 to $354.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Seven equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $323.69.

Insiders Place Their Bets

In related news, Director Peter A. Wall sold 1,320 shares of General Dynamics stock in a transaction on Monday, September 16th. The shares were sold at an average price of $308.05, for a total value of $406,626.00. Following the completion of the sale, the director now owns 3,592 shares of the company’s stock, valued at approximately $1,106,515.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.60% of the company’s stock.

General Dynamics Trading Up 0.2 %

Shares of NYSE GD opened at $293.60 on Tuesday. The firm has a market capitalization of $80.73 billion, a PE ratio of 22.36, a PEG ratio of 1.75 and a beta of 0.61. General Dynamics Co. has a one year low of $238.31 and a one year high of $313.11. The company has a current ratio of 1.32, a quick ratio of 0.80 and a debt-to-equity ratio of 0.32. The business has a 50-day moving average price of $300.88 and a two-hundred day moving average price of $295.23.

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). The company had revenue of $11.67 billion during the quarter, compared to analyst estimates of $11.65 billion. General Dynamics had a net margin of 7.90% and a return on equity of 16.59%. The firm’s quarterly revenue was up 10.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.04 EPS. As a group, analysts predict that General Dynamics Co. will post 13.97 earnings per share for the current fiscal year.

General Dynamics Announces Dividend

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 paid a $1.42 dividend. This represents a $5.68 dividend on an annualized basis and a yield of 1.93%. The ex-dividend date is Friday, October 11th. General Dynamics’s dividend payout ratio (DPR) is presently 43.26%.

About General Dynamics

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.