Conning Inc. Has $38.36 Million Position in General Dynamics Co. (NYSE:GD)

Conning Inc. boosted its stake in shares of General Dynamics Co. (NYSE:GD) by 2,626.5% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 210,949 shares of the aerospace company’s stock after buying an additional 203,212 shares during the quarter. Conning Inc.’s holdings in General Dynamics were worth $38,355,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in GD. Ellis Investment Partners LLC lifted its stake in shares of General Dynamics by 16,833.7% in the 1st quarter. Ellis Investment Partners LLC now owns 960,820 shares of the aerospace company’s stock valued at $960,000 after purchasing an additional 955,146 shares during the period. Thoroughbred Financial Services LLC lifted its stake in shares of General Dynamics by 18,507.6% in the 2nd quarter. Thoroughbred Financial Services LLC now owns 926,285 shares of the aerospace company’s stock valued at $92,628,000 after purchasing an additional 921,307 shares during the period. Caisse DE Depot ET Placement DU Quebec lifted its stake in shares of General Dynamics by 8.1% in the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 3,365,297 shares of the aerospace company’s stock valued at $569,677,000 after purchasing an additional 252,900 shares during the period. Longview Asset Management LLC lifted its stake in shares of General Dynamics by 0.7% in the 1st quarter. Longview Asset Management LLC now owns 32,898,410 shares of the aerospace company’s stock valued at $5,569,043,000 after purchasing an additional 215,179 shares during the period. Finally, Geode Capital Management LLC lifted its stake in shares of General Dynamics by 5.8% in the 4th quarter. Geode Capital Management LLC now owns 3,511,536 shares of the aerospace company’s stock valued at $551,080,000 after purchasing an additional 193,294 shares during the period. 86.79% of the stock is currently owned by hedge funds and other institutional investors.

Shares of GD opened at $176.77 on Tuesday. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.09 and a quick ratio of 0.73. The business’s 50 day moving average is $182.40. The company has a market cap of $52.56 billion, a price-to-earnings ratio of 15.48, a P/E/G ratio of 1.76 and a beta of 1.21. General Dynamics Co. has a 52 week low of $143.87 and a 52 week high of $207.72.

General Dynamics (NYSE:GD) last issued its quarterly earnings data on Wednesday, July 24th. The aerospace company reported $2.77 EPS for the quarter, topping analysts’ consensus estimates of $2.68 by $0.09. The firm had revenue of $9.56 billion during the quarter, compared to analyst estimates of $9.36 billion. General Dynamics had a return on equity of 26.81% and a net margin of 8.65%. The company’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same period in the previous year, the company posted $2.82 EPS. On average, analysts expect that General Dynamics Co. will post 11.83 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 9th. Shareholders of record on Friday, July 5th will be issued a dividend of $1.02 per share. This represents a $4.08 dividend on an annualized basis and a yield of 2.31%. The ex-dividend date is Wednesday, July 3rd. General Dynamics’s dividend payout ratio is currently 35.73%.

A number of brokerages recently commented on GD. Cowen reaffirmed a “buy” rating and issued a $202.00 target price on shares of General Dynamics in a research report on Wednesday, April 24th. ValuEngine raised General Dynamics from a “sell” rating to a “hold” rating in a research report on Thursday, June 6th. Robert W. Baird boosted their target price on General Dynamics from $188.00 to $218.00 and gave the company an “outperform” rating in a research report on Wednesday, July 10th. Zacks Investment Research raised General Dynamics from a “hold” rating to a “buy” rating and set a $171.00 target price for the company in a research report on Monday, June 3rd. Finally, Goldman Sachs Group raised General Dynamics from a “neutral” rating to a “buy” rating and set a $204.00 target price for the company in a research report on Sunday, May 19th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and seven have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $191.35.

In other General Dynamics news, VP Gary L. Whited sold 14,029 shares of the business’s stock in a transaction that occurred on Tuesday, July 30th. The stock was sold at an average price of $188.38, for a total transaction of $2,642,783.02. Following the completion of the sale, the vice president now directly owns 37,542 shares of the company’s stock, valued at approximately $7,072,161.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 7.10% of the company’s stock.

General Dynamics Profile

General Dynamics Corporation operates as an aerospace and defense company worldwide. It operates in five segments: Aerospace, Combat Systems, Information Technology, Mission Systems, and Marine Systems. The Aerospace segment designs, manufactures, and supports business-jet aircraft; and offers business-aviation services, including maintenance, fixed-base operation, government fleet, aircraft management, charter, and staffing services, as well as integrated aviation solutions.

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

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