Cim LLC Purchases Shares of 6,903 General Dynamics Co. (NYSE:GD)

Cim LLC acquired a new position in General Dynamics Co. (NYSE:GD) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 6,903 shares of the aerospace company’s stock, valued at approximately $2,052,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Sanctuary Advisors LLC purchased a new stake in General Dynamics during the second quarter valued at about $24,147,000. Farmers National Bank increased its position in shares of General Dynamics by 0.9% during the 2nd quarter. Farmers National Bank now owns 10,182 shares of the aerospace company’s stock valued at $2,954,000 after purchasing an additional 92 shares during the last quarter. Dana Investment Advisors Inc. bought a new position in shares of General Dynamics during the 2nd quarter valued at $4,697,000. New Wave Wealth Advisors LLC purchased a new position in General Dynamics in the 2nd quarter worth $271,000. Finally, KPP Advisory Services LLC purchased a new stake in General Dynamics during the second quarter valued at about $205,000. 86.14% of the stock is owned by hedge funds and other institutional investors.

General Dynamics Price Performance

Shares of NYSE:GD opened at $305.32 on Wednesday. The company has a quick ratio of 0.80, a current ratio of 1.33 and a debt-to-equity ratio of 0.33. The stock has a market capitalization of $83.77 billion, a PE ratio of 24.90, a price-to-earnings-growth ratio of 1.68 and a beta of 0.61. General Dynamics Co. has a twelve month low of $214.53 and a twelve month high of $309.97. The firm’s 50 day moving average price is $296.51 and its 200-day moving average price is $292.64.

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 firm had revenue of $11.98 billion for the quarter, compared to the consensus estimate of $11.46 billion. During the same quarter in the previous year, the business posted $2.70 EPS. General Dynamics’s revenue was up 18.0% on a year-over-year basis. Equities research analysts expect that General Dynamics Co. will post 14.52 EPS for the current year.

General Dynamics Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 11th will be issued a $1.42 dividend. This represents a $5.68 annualized dividend and a dividend yield of 1.86%. The ex-dividend date of this dividend is Friday, October 11th. General Dynamics’s dividend payout ratio (DPR) is presently 46.33%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on GD. Royal Bank of Canada reissued an “outperform” rating and issued a $320.00 target price on shares of General Dynamics in a research note on Thursday, July 25th. Robert W. Baird restated an “outperform” rating and set a $345.00 price target on shares of General Dynamics in a research report on Tuesday, July 2nd. Barclays raised their price objective on General Dynamics from $310.00 to $325.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. Wells Fargo & Company downgraded shares of General Dynamics from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $334.00 to $317.00 in a research report on Tuesday. Finally, BTIG Research initiated coverage on shares of General Dynamics in a research report on Wednesday, June 26th. They set a “buy” rating and a $345.00 price target for the company. Six analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $317.41.

Insider Buying and Selling

In other news, Director Peter A. Wall sold 1,320 shares of the firm’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $308.05, for a total transaction of $406,626.00. Following the completion of the transaction, the director now owns 3,592 shares in the company, valued at $1,106,515.60. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 1.52% of the stock is owned by company insiders.

About General Dynamics

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.