General Dynamics Co. (GD) Position Raised by Tower Research Capital LLC TRC

Tower Research Capital LLC TRC boosted its holdings in General Dynamics Co. (NYSE:GD) by 1,642.3% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 7,283 shares of the aerospace company’s stock after buying an additional 6,865 shares during the period. Tower Research Capital LLC TRC’s holdings in General Dynamics were worth $1,357,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Newport Trust Co increased its holdings in General Dynamics by 0.3% during the 2nd quarter. Newport Trust Co now owns 21,068,046 shares of the aerospace company’s stock worth $3,927,294,000 after purchasing an additional 66,593 shares during the last quarter. BlackRock Inc. increased its holdings in General Dynamics by 1.1% during the 2nd quarter. BlackRock Inc. now owns 17,024,342 shares of the aerospace company’s stock worth $3,173,507,000 after purchasing an additional 191,353 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec increased its holdings in General Dynamics by 29.0% during the 2nd quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,243,297 shares of the aerospace company’s stock worth $418,173,000 after purchasing an additional 504,326 shares during the last quarter. Aristotle Capital Management LLC increased its holdings in General Dynamics by 3.8% during the 1st quarter. Aristotle Capital Management LLC now owns 1,577,319 shares of the aerospace company’s stock worth $348,430,000 after purchasing an additional 57,762 shares during the last quarter. Finally, Bank of Montreal Can purchased a new stake in General Dynamics during the 2nd quarter worth approximately $258,844,000. 85.41% of the stock is currently owned by institutional investors and hedge funds.

Several equities research analysts have issued reports on the company. Drexel Hamilton reiterated a “buy” rating and issued a $230.00 price target on shares of General Dynamics in a report on Thursday, August 16th. Morgan Stanley lowered their price target on General Dynamics from $215.00 to $207.00 and set an “underweight” rating for the company in a report on Friday, June 22nd. UBS Group started coverage on General Dynamics in a report on Wednesday, August 15th. They issued a “neutral” rating and a $210.00 price target for the company. Zacks Investment Research downgraded General Dynamics from a “hold” rating to a “sell” rating in a report on Tuesday, June 26th. Finally, ValuEngine upgraded General Dynamics from a “sell” rating to a “hold” rating in a research report on Saturday, July 28th. Three analysts have rated the stock with a sell rating, five have issued a hold rating and ten have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $241.12.

In other news, insider John Patrick Casey sold 22,500 shares of the company’s stock in a transaction dated Monday, July 16th. The stock was sold at an average price of $191.99, for a total transaction of $4,319,775.00. Following the completion of the sale, the insider now owns 118,555 shares in the company, valued at approximately $22,761,374.45. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider S. Daniel Johnson sold 77,810 shares of the company’s stock in a transaction dated Friday, September 14th. The stock was sold at an average price of $199.85, for a total value of $15,550,328.50. Following the sale, the insider now owns 99,333 shares of the company’s stock, valued at approximately $19,851,700.05. The disclosure for this sale can be found here. Insiders own 6.90% of the company’s stock.

Shares of General Dynamics stock opened at $207.16 on Tuesday. The firm has a market cap of $60.81 billion, a PE ratio of 20.82, a P/E/G ratio of 1.64 and a beta of 0.77. General Dynamics Co. has a 12-month low of $184.21 and a 12-month high of $230.00. The company has a current ratio of 1.20, a quick ratio of 0.84 and a debt-to-equity ratio of 0.95.

General Dynamics (NYSE:GD) last posted its quarterly earnings results on Wednesday, July 25th. The aerospace company reported $2.82 earnings per share for the quarter, beating the consensus estimate of $2.49 by $0.33. The firm had revenue of $9.19 billion for the quarter, compared to analyst estimates of $9.09 billion. General Dynamics had a return on equity of 27.06% and a net margin of 9.16%. General Dynamics’s quarterly revenue was up 19.7% on a year-over-year basis. During the same period in the previous year, the firm earned $2.45 earnings per share. Equities research analysts predict that General Dynamics Co. will post 11.22 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, November 9th. Shareholders of record on Friday, October 5th will be paid a $0.93 dividend. The ex-dividend date of this dividend is Thursday, October 4th. This represents a $3.72 dividend on an annualized basis and a yield of 1.80%. General Dynamics’s dividend payout ratio (DPR) is currently 37.39%.

General Dynamics Profile

General Dynamics Corporation operates as an aerospace and defense company worldwide. It operates through four business groups: Aerospace; Combat Systems; Information Systems and Technology; and Marine Systems. The Aerospace group designs, develops, manufactures, service and supports business-jet aircraft; and provides aircraft services, such as maintenance, aircraft management, charter, fixed-base operational, and staffing services.

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Institutional Ownership by Quarter for General Dynamics (NYSE:GD)

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