Chicago Partners Investment Group LLC Makes New Investment in General Dynamics Co. (NYSE:GD)

Chicago Partners Investment Group LLC acquired a new stake in shares of General Dynamics Co. (NYSE:GDGet Rating) in the first quarter, according to its most recent disclosure with the SEC. The firm acquired 3,481 shares of the aerospace company’s stock, valued at approximately $787,000.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of General Dynamics by 0.7% in the first quarter. Vanguard Group Inc. now owns 20,326,396 shares of the aerospace company’s stock valued at $4,902,319,000 after purchasing an additional 140,760 shares in the last quarter. BlackRock Inc. grew its holdings in shares of General Dynamics by 11.1% in the first quarter. BlackRock Inc. now owns 15,457,200 shares of the aerospace company’s stock valued at $3,727,966,000 after purchasing an additional 1,547,786 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of General Dynamics by 1.8% in the fourth quarter. Geode Capital Management LLC now owns 3,642,456 shares of the aerospace company’s stock valued at $757,162,000 after purchasing an additional 64,638 shares in the last quarter. Invesco Ltd. grew its holdings in shares of General Dynamics by 1.3% in the first quarter. Invesco Ltd. now owns 3,141,914 shares of the aerospace company’s stock valued at $757,768,000 after purchasing an additional 39,686 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of General Dynamics in the fourth quarter valued at $484,878,000. 86.16% of the stock is owned by hedge funds and other institutional investors.

General Dynamics Stock Up 1.2 %

NYSE:GD opened at $230.73 on Thursday. General Dynamics Co. has a twelve month low of $188.64 and a twelve month high of $254.99. The company has a market cap of $63.28 billion, a price-to-earnings ratio of 19.52, a price-to-earnings-growth ratio of 1.87 and a beta of 0.86. The stock has a fifty day simple moving average of $226.79 and a 200-day simple moving average of $229.93. The company has a current ratio of 1.40, a quick ratio of 0.98 and a debt-to-equity ratio of 0.56.

General Dynamics (NYSE:GDGet Rating) last released its earnings results on Wednesday, July 27th. The aerospace company reported $2.75 earnings per share for the quarter, topping the consensus estimate of $2.72 by $0.03. General Dynamics had a return on equity of 19.25% and a net margin of 8.61%. The business had revenue of $9.19 billion during the quarter, compared to the consensus estimate of $9.42 billion. During the same period last year, the company earned $2.61 earnings per share. The business’s revenue for the quarter was down .3% compared to the same quarter last year. Analysts anticipate that General Dynamics Co. will post 12.16 EPS for the current year.

General Dynamics Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 10th. Investors of record on Friday, October 7th will be issued a $1.26 dividend. The ex-dividend date of this dividend is Thursday, October 6th. This represents a $5.04 annualized dividend and a dividend yield of 2.18%. General Dynamics’s payout ratio is currently 42.64%.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Seaport Res Ptn reissued a “buy” rating on shares of General Dynamics in a report on Wednesday, July 27th. Royal Bank of Canada started coverage on shares of General Dynamics in a research note on Monday, August 29th. They set an “outperform” rating and a $275.00 price objective for the company. Finally, Cowen set a $260.00 price objective on shares of General Dynamics in a research note on Tuesday, July 19th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $256.38.

Insider Activity at General Dynamics

In related news, CEO Phebe N. Novakovic sold 71,461 shares of General Dynamics stock in a transaction dated Tuesday, August 9th. The stock was sold at an average price of $227.05, for a total value of $16,225,220.05. Following the completion of the sale, the chief executive officer now directly owns 781,152 shares in the company, valued at $177,360,561.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.50% of the stock is currently owned by corporate insiders.

General Dynamics Profile

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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 designs, manufactures, and sells business jets; and offers aircraft maintenance and repair, management, charter, aircraft-on-ground support and completion, staffing, and fixed-base operator services.

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

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