Quantinno Capital Management LP Increases Holdings in General Dynamics Co. (NYSE:GD)

Quantinno Capital Management LP increased its stake in General Dynamics Co. (NYSE:GD) by 86.2% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 35,954 shares of the aerospace company’s stock after purchasing an additional 16,641 shares during the quarter. Quantinno Capital Management LP’s holdings in General Dynamics were worth $10,866,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in GD. CHICAGO TRUST Co NA grew its position in General Dynamics by 4.3% during the second quarter. CHICAGO TRUST Co NA now owns 1,706 shares of the aerospace company’s stock worth $495,000 after buying an additional 71 shares in the last quarter. Capital Investment Advisors LLC grew its position in General Dynamics by 1.1% during the second quarter. Capital Investment Advisors LLC now owns 9,570 shares of the aerospace company’s stock worth $2,777,000 after buying an additional 100 shares in the last quarter. QRG Capital Management Inc. grew its position in General Dynamics by 2.6% during the second quarter. QRG Capital Management Inc. now owns 19,079 shares of the aerospace company’s stock worth $5,536,000 after buying an additional 480 shares in the last quarter. Opal Wealth Advisors LLC purchased a new position in General Dynamics during the second quarter worth about $72,000. Finally, Diversify Advisory Services LLC lifted its stake in General Dynamics by 1.4% during the second quarter. Diversify Advisory Services LLC now owns 4,441 shares of the aerospace company’s stock worth $1,241,000 after purchasing an additional 60 shares during the last quarter. 86.14% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have issued reports on GD shares. Wells Fargo & Company lifted their price target on General Dynamics from $317.00 to $322.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 24th. Morgan Stanley raised General Dynamics from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $293.00 to $345.00 in a research note on Friday, August 9th. Seaport Res Ptn lowered General Dynamics from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 11th. TD Cowen raised General Dynamics to a “strong-buy” rating in a research note on Tuesday, October 8th. Finally, Barclays boosted their target price on General Dynamics from $325.00 to $330.00 and gave the company an “overweight” rating in a research note on Tuesday, October 29th. Seven investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $323.69.

Insider Buying and Selling

In related news, VP Christopher J. Brady sold 5,540 shares of the company’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $280.91, for a total value of $1,556,241.40. Following the transaction, the vice president now directly owns 20,296 shares of the company’s stock, valued at approximately $5,701,349.36. This represents a 21.44 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, 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 value of $406,626.00. Following the completion of the transaction, the director now directly owns 3,592 shares in the company, valued at $1,106,515.60. This trade represents a 26.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.52% of the stock is currently owned by company insiders.

General Dynamics Trading Down 0.9 %

GD opened at $275.15 on Friday. The business has a 50 day simple moving average of $296.00 and a two-hundred day simple moving average of $295.03. The firm has a market capitalization of $75.66 billion, a price-to-earnings ratio of 20.96, a PEG ratio of 1.68 and a beta of 0.59. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.32 and a quick ratio of 0.80. General Dynamics Co. has a one year low of $247.36 and a one year high of $316.90.

General Dynamics (NYSE:GD) last posted its earnings results on Wednesday, October 23rd. The aerospace company reported $3.35 earnings per share for the quarter, missing analysts’ consensus estimates of $3.48 by ($0.13). General Dynamics had a return on equity of 16.59% and a net margin of 7.90%. The firm had revenue of $11.67 billion for the quarter, compared to analysts’ expectations of $11.65 billion. During the same quarter last year, the company posted $3.04 EPS. The firm’s revenue was up 10.4% on a year-over-year basis. Analysts predict that General Dynamics Co. will post 13.92 EPS for the current year.

General Dynamics Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Investors of record on Friday, January 17th will be paid a $1.42 dividend. The ex-dividend date of this dividend is Friday, January 17th. This represents a $5.68 annualized dividend and a dividend yield of 2.06%. General Dynamics’s payout ratio is currently 43.26%.

General Dynamics declared that its board has authorized a stock repurchase plan on Wednesday, December 4th that permits the company to buyback 10,000,000 outstanding shares. This buyback authorization permits the aerospace company to purchase shares of its stock through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.

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.