iA Global Asset Management Inc. Boosts Position in General Dynamics Co. (NYSE:GD)

iA Global Asset Management Inc. increased its stake in General Dynamics Co. (NYSE:GD) by 9.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,913 shares of the aerospace company’s stock after buying an additional 163 shares during the period. iA Global Asset Management Inc.’s holdings in General Dynamics were worth $555,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Boston Financial Mangement LLC increased its position in General Dynamics by 2.0% during the 2nd quarter. Boston Financial Mangement LLC now owns 2,798 shares of the aerospace company’s stock valued at $812,000 after purchasing an additional 56 shares during the period. Signaturefd LLC increased its position in General Dynamics by 13.9% during the 2nd quarter. Signaturefd LLC now owns 5,362 shares of the aerospace company’s stock valued at $1,556,000 after purchasing an additional 655 shares during the period. KCM Investment Advisors LLC increased its position in General Dynamics by 0.3% during the 2nd quarter. KCM Investment Advisors LLC now owns 20,004 shares of the aerospace company’s stock valued at $5,804,000 after purchasing an additional 58 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its position in General Dynamics by 13.2% during the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,448 shares of the aerospace company’s stock valued at $420,000 after purchasing an additional 169 shares during the period. Finally, Modera Wealth Management LLC increased its position in General Dynamics by 0.4% during the 2nd quarter. Modera Wealth Management LLC now owns 8,120 shares of the aerospace company’s stock valued at $2,356,000 after purchasing an additional 35 shares during the period. Hedge funds and other institutional investors own 86.14% of the company’s stock.

General Dynamics Stock Up 0.6 %

GD stock opened at $299.48 on Friday. The firm has a 50 day moving average of $290.62 and a 200 day moving average of $287.70. The stock has a market capitalization of $82.17 billion, a PE ratio of 24.43, a price-to-earnings-growth ratio of 1.68 and a beta of 0.60. The company has a quick ratio of 0.80, a current ratio of 1.33 and a debt-to-equity ratio of 0.33. General Dynamics Co. has a 52 week low of $214.53 and a 52 week high of $302.75.

General Dynamics (NYSE:GD) last released its earnings results on Wednesday, July 24th. The aerospace company reported $3.26 EPS for the quarter, missing analysts’ consensus estimates of $3.30 by ($0.04). General Dynamics had a return on equity of 16.74% and a net margin of 7.89%. The company had revenue of $11.98 billion during the quarter, compared to analyst estimates of $11.46 billion. During the same quarter last year, the business earned $2.70 earnings per share. The firm’s revenue for the quarter was up 18.0% on a year-over-year basis. Sell-side analysts forecast that General Dynamics Co. will post 14.5 earnings per share for the current year.

General Dynamics Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, October 11th will be paid a dividend of $1.42 per share. This represents a $5.68 annualized dividend and a yield of 1.90%. The ex-dividend date is Friday, October 11th. General Dynamics’s payout ratio is 46.33%.

Analysts Set New Price Targets

A number of research firms have commented on GD. Wells Fargo & Company raised their target price on shares of General Dynamics from $330.00 to $334.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. Robert W. Baird reissued an “outperform” rating and set a $345.00 target price on shares of General Dynamics in a research report on Tuesday, July 2nd. Sanford C. Bernstein raised their target price on shares of General Dynamics from $290.00 to $302.00 and gave the company a “market perform” rating in a research report on Thursday, May 23rd. Barclays raised their price target on shares of General Dynamics from $310.00 to $325.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. Finally, Morgan Stanley upgraded shares of General Dynamics from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $293.00 to $345.00 in a report on Friday, August 9th. Six investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, General Dynamics has a consensus rating of “Moderate Buy” and a consensus price target of $315.06.

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.