Dearborn Partners LLC Grows Stock Position in General Dynamics Co. (NYSE:GD)

Dearborn Partners LLC raised its stake in shares of General Dynamics Co. (NYSE:GD) by 3.2% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 72,140 shares of the aerospace company’s stock after buying an additional 2,249 shares during the period. Dearborn Partners LLC’s holdings in General Dynamics were worth $10,782,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Seeyond raised its stake in shares of General Dynamics by 70.4% during the 1st quarter. Seeyond now owns 4,580 shares of the aerospace company’s stock valued at $500,000 after buying an additional 1,892 shares during the last quarter. Clarius Group LLC raised its stake in shares of General Dynamics by 6.1% during the 2nd quarter. Clarius Group LLC now owns 1,655 shares of the aerospace company’s stock valued at $247,000 after buying an additional 95 shares during the last quarter. First Mercantile Trust Co. raised its stake in shares of General Dynamics by 6.0% during the 1st quarter. First Mercantile Trust Co. now owns 17,901 shares of the aerospace company’s stock valued at $2,368,000 after buying an additional 1,018 shares during the last quarter. Cigna Investments Inc. New raised its stake in shares of General Dynamics by 6.3% during the 1st quarter. Cigna Investments Inc. New now owns 6,783 shares of the aerospace company’s stock valued at $897,000 after buying an additional 400 shares during the last quarter. Finally, Canandaigua National Corp purchased a new position in shares of General Dynamics during the 2nd quarter valued at about $1,443,000. Institutional investors and hedge funds own 85.57% of the company’s stock.

Shares of General Dynamics stock traded down $2.12 during trading hours on Friday, reaching $146.74. 1,659,624 shares of the company were exchanged, compared to its average volume of 1,125,946. General Dynamics Co. has a 1 year low of $100.55 and a 1 year high of $193.76. The stock’s fifty day moving average is $148.68 and its 200 day moving average is $151.85. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.97 and a current ratio of 1.27. The firm has a market cap of $42.09 billion, a PE ratio of 13.03, a PEG ratio of 2.50 and a beta of 1.05.

General Dynamics (NYSE:GD) last posted its earnings results on Wednesday, July 29th. The aerospace company reported $2.18 EPS for the quarter, beating the consensus estimate of $2.15 by $0.03. The firm had revenue of $9.26 billion for the quarter, compared to analyst estimates of $9.03 billion. General Dynamics had a return on equity of 24.10% and a net margin of 8.47%. General Dynamics’s revenue for the quarter was down 3.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.77 earnings per share. Research analysts expect that General Dynamics Co. will post 11.1 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 7th. Shareholders of record on Friday, July 3rd will be paid a $1.10 dividend. The ex-dividend date is Wednesday, July 1st. This represents a $4.40 annualized dividend and a yield of 3.00%. General Dynamics’s dividend payout ratio is presently 36.73%.

GD has been the subject of several recent analyst reports. Seaport Global Securities initiated coverage on General Dynamics in a research note on Tuesday, May 19th. They issued a “buy” rating and a $188.00 price target for the company. Citigroup upgraded General Dynamics from a “neutral” rating to a “buy” rating and cut their price target for the company from $185.00 to $170.00 in a research note on Monday, April 20th. Credit Suisse Group cut their price target on General Dynamics from $191.00 to $153.00 and set a “neutral” rating for the company in a research note on Thursday, April 30th. Royal Bank of Canada lifted their price target on General Dynamics from $157.00 to $164.00 and gave the company an “outperform” rating in a research note on Thursday. Finally, TheStreet lowered General Dynamics from a “b-” rating to a “c+” rating in a research note on Thursday, July 9th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have given a buy rating to the stock. General Dynamics has an average rating of “Buy” and an average price target of $183.57.

General Dynamics Company 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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