Chicago Partners Investment Group LLC Has $2.02 Million Holdings in General Dynamics Corporation $GD

Chicago Partners Investment Group LLC increased its holdings in General Dynamics Corporation (NYSE:GD) by 61.9% in the third quarter, HoldingsChannel reports. The firm owned 5,812 shares of the aerospace company’s stock after purchasing an additional 2,222 shares during the period. Chicago Partners Investment Group LLC’s holdings in General Dynamics were worth $2,015,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of GD. Pacer Advisors Inc. boosted its stake in shares of General Dynamics by 3,306.5% during the 3rd quarter. Pacer Advisors Inc. now owns 871,052 shares of the aerospace company’s stock worth $297,029,000 after acquiring an additional 845,482 shares in the last quarter. Ameriprise Financial Inc. boosted its position in General Dynamics by 25.2% during the second quarter. Ameriprise Financial Inc. now owns 3,439,720 shares of the aerospace company’s stock worth $1,003,444,000 after purchasing an additional 691,340 shares during the period. Prudential Financial Inc. grew its holdings in General Dynamics by 142.5% during the second quarter. Prudential Financial Inc. now owns 438,311 shares of the aerospace company’s stock valued at $127,838,000 after purchasing an additional 257,534 shares during the last quarter. AQR Capital Management LLC raised its position in shares of General Dynamics by 43.0% in the second quarter. AQR Capital Management LLC now owns 762,168 shares of the aerospace company’s stock valued at $222,294,000 after purchasing an additional 229,352 shares during the period. Finally, Marshall Wace LLP acquired a new stake in shares of General Dynamics in the second quarter worth $66,599,000. 86.14% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently commented on GD. Wall Street Zen upgraded shares of General Dynamics from a “hold” rating to a “buy” rating in a report on Saturday, October 4th. TD Cowen lifted their price objective on General Dynamics from $370.00 to $390.00 and gave the stock a “buy” rating in a research note on Wednesday, January 14th. Vertical Research raised General Dynamics from a “hold” rating to a “buy” rating and set a $400.00 price objective for the company in a research report on Monday, October 27th. UBS Group raised their target price on General Dynamics from $381.00 to $388.00 and gave the company a “neutral” rating in a report on Thursday, January 15th. Finally, The Goldman Sachs Group upped their price target on General Dynamics from $280.00 to $293.00 and gave the stock a “sell” rating in a report on Friday, October 10th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $366.70.

General Dynamics Stock Up 0.2%

GD stock opened at $365.62 on Friday. General Dynamics Corporation has a twelve month low of $239.20 and a twelve month high of $369.70. The company has a quick ratio of 0.87, a current ratio of 1.40 and a debt-to-equity ratio of 0.29. The company has a market cap of $98.76 billion, a PE ratio of 23.70, a price-to-earnings-growth ratio of 1.62 and a beta of 0.41. The business’s 50-day simple moving average is $345.75 and its 200 day simple moving average is $332.32.

General Dynamics (NYSE:GD) last announced its quarterly earnings data on Friday, October 24th. The aerospace company reported $3.88 EPS for the quarter, topping analysts’ consensus estimates of $3.69 by $0.19. The company had revenue of $12.91 billion during the quarter, compared to the consensus estimate of $12.49 billion. General Dynamics had a return on equity of 18.27% and a net margin of 8.18%.The company’s quarterly revenue was up 10.6% on a year-over-year basis. During the same quarter last year, the company earned $3.35 EPS. On average, research analysts anticipate that General Dynamics Corporation will post 14.83 earnings per share for the current year.

General Dynamics Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 6th. Shareholders of record on Friday, January 16th will be paid a dividend of $1.50 per share. The ex-dividend date is Friday, January 16th. This represents a $6.00 dividend on an annualized basis and a yield of 1.6%. General Dynamics’s payout ratio is currently 38.89%.

Insider Transactions at General Dynamics

In other news, VP David Paddock sold 20,360 shares of the stock in a transaction on Wednesday, December 17th. The shares were sold at an average price of $334.92, for a total value of $6,818,971.20. Following the completion of the transaction, the vice president owned 36,644 shares in the company, valued at approximately $12,272,808.48. This represents a 35.72% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.50% of the stock is owned by company insiders.

General Dynamics Profile

General Dynamics is a major American aerospace and defense contractor that designs, manufactures and supports a broad range of products and services for government and commercial customers worldwide. Headquartered in the United States (Reston, Virginia), the company supplies platforms and systems used by armed forces, civil authorities and private operators across multiple domains including air, land, sea and cyber.

Its principal activities span several operating businesses: a business aviation unit that develops and supports Gulfstream business jets; land systems that produce armored combat vehicles and related logistics and sustainment services; marine systems that design and construct submarines and surface ships for navies; and mission systems and information technology operations that provide command-and-control, communications, cybersecurity and systems-integration services.