Optas LLC Acquires New Shares in General Dynamics Co. (NYSE:GD)

Optas LLC bought a new stake in General Dynamics Co. (NYSE:GD) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 758 shares of the aerospace company’s stock, valued at approximately $207,000.

A number of other hedge funds have also made changes to their positions in the company. Capital & Planning LLC lifted its position in shares of General Dynamics by 9.8% in the fourth quarter. Capital & Planning LLC now owns 1,538 shares of the aerospace company’s stock valued at $405,000 after acquiring an additional 137 shares in the last quarter. Brighton Jones LLC grew its holdings in shares of General Dynamics by 16.9% during the fourth quarter. Brighton Jones LLC now owns 2,885 shares of the aerospace company’s stock worth $760,000 after buying an additional 417 shares in the last quarter. Van ECK Associates Corp raised its position in shares of General Dynamics by 1.1% in the fourth quarter. Van ECK Associates Corp now owns 39,138 shares of the aerospace company’s stock valued at $10,313,000 after buying an additional 444 shares during the last quarter. V Square Quantitative Management LLC raised its holdings in General Dynamics by 17.9% in the 4th quarter. V Square Quantitative Management LLC now owns 843 shares of the aerospace company’s stock valued at $222,000 after acquiring an additional 128 shares during the last quarter. Finally, Congress Asset Management Co. acquired a new stake in shares of General Dynamics during the fourth quarter worth $1,218,000. Hedge funds and other institutional investors own 86.14% of the company’s stock.

General Dynamics Stock Down 1.4%

NYSE:GD opened at $278.96 on Tuesday. The company has a market capitalization of $74.87 billion, a price-to-earnings ratio of 20.45, a price-to-earnings-growth ratio of 1.69 and a beta of 0.46. The stock has a 50-day simple moving average of $275.12 and a 200 day simple moving average of $266.38. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.82 and a current ratio of 1.37. General Dynamics Co. has a one year low of $239.20 and a one year high of $316.90.

General Dynamics (NYSE:GD) last announced its quarterly earnings data on Wednesday, April 23rd. The aerospace company reported $3.66 earnings per share for the quarter, beating analysts’ consensus estimates of $3.43 by $0.23. The business had revenue of $12.22 billion during the quarter, compared to the consensus estimate of $11.92 billion. General Dynamics had a net margin of 7.93% and a return on equity of 17.10%. The company’s revenue for the quarter was up 13.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.88 EPS. Sell-side analysts predict that General Dynamics Co. will post 14.83 EPS for the current fiscal year.

General Dynamics Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Thursday, July 3rd will be issued a $1.50 dividend. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.15%. General Dynamics’s dividend payout ratio (DPR) is presently 41.61%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on GD shares. UBS Group raised their price target on General Dynamics from $268.00 to $279.00 and gave the stock a “neutral” rating in a research note on Thursday, April 24th. Wells Fargo & Company decreased their target price on shares of General Dynamics from $261.00 to $236.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 8th. TD Securities boosted their target price on shares of General Dynamics from $275.00 to $290.00 and gave the company a “buy” rating in a report on Thursday, April 24th. Morgan Stanley cut their price target on shares of General Dynamics from $305.00 to $300.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 24th. Finally, Argus set a $295.00 price objective on shares of General Dynamics in a research note on Tuesday, May 6th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $293.00.

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.