Jones Financial Companies Lllp Has $1.84 Million Holdings in General Dynamics Co. (NYSE:GD)

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Jones Financial Companies Lllp lifted its holdings in General Dynamics Co. (NYSE:GD) by 2.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,139 shares of the aerospace company’s stock after purchasing an additional 217 shares during the period. Jones Financial Companies Lllp’s holdings in General Dynamics were worth $1,843,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the stock. Ellis Investment Partners LLC raised its holdings in General Dynamics by 16,833.7% in the 1st quarter. Ellis Investment Partners LLC now owns 960,820 shares of the aerospace company’s stock worth $960,000 after acquiring an additional 955,146 shares during the period. Thoroughbred Financial Services LLC raised its holdings in General Dynamics by 18,507.6% in the 2nd quarter. Thoroughbred Financial Services LLC now owns 926,285 shares of the aerospace company’s stock worth $92,628,000 after acquiring an additional 921,307 shares during the period. Caisse DE Depot ET Placement DU Quebec raised its holdings in General Dynamics by 8.1% in the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 3,365,297 shares of the aerospace company’s stock worth $569,677,000 after acquiring an additional 252,900 shares during the period. Longview Asset Management LLC raised its holdings in General Dynamics by 0.7% in the 1st quarter. Longview Asset Management LLC now owns 32,898,410 shares of the aerospace company’s stock worth $5,569,043,000 after acquiring an additional 215,179 shares during the period. Finally, Conning Inc. raised its holdings in General Dynamics by 2,626.5% in the 2nd quarter. Conning Inc. now owns 210,949 shares of the aerospace company’s stock worth $38,355,000 after acquiring an additional 203,212 shares during the period. 86.84% of the stock is owned by institutional investors and hedge funds.

Several brokerages recently commented on GD. Morgan Stanley lifted their target price on shares of General Dynamics from $171.00 to $173.00 and gave the stock an “underweight” rating in a report on Wednesday. UBS Group lifted their target price on shares of General Dynamics from $175.00 to $190.00 and gave the stock a “neutral” rating in a report on Thursday, April 25th. Robert W. Baird lifted their target price on shares of General Dynamics from $188.00 to $218.00 and gave the stock an “outperform” rating in a report on Wednesday, July 10th. Zacks Investment Research upgraded shares of General Dynamics from a “hold” rating to a “buy” rating and set a $171.00 price objective on the stock in a report on Monday, June 3rd. Finally, JPMorgan Chase & Co. upgraded shares of General Dynamics from an “underweight” rating to a “neutral” rating and boosted their price objective for the stock from $188.00 to $200.00 in a report on Thursday, April 25th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and seven have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $191.47.

In related news, VP Gary L. Whited sold 14,029 shares of the company’s stock in a transaction dated Tuesday, July 30th. The shares were sold at an average price of $188.38, for a total value of $2,642,783.02. Following the sale, the vice president now owns 37,542 shares of the company’s stock, valued at $7,072,161.96. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Mark Lagrand Burns bought 159 shares of the stock in a transaction that occurred on Friday, August 9th. The stock was acquired at an average cost of $179.56 per share, for a total transaction of $28,550.04. Following the purchase, the vice president now owns 39,643 shares of the company’s stock, valued at $7,118,297.08. The disclosure for this purchase can be found here. Insiders own 7.10% of the company’s stock.

Shares of NYSE:GD traded up $2.13 on Friday, hitting $184.35. 1,440,200 shares of the company were exchanged, compared to its average volume of 1,049,674. The company’s 50 day moving average price is $183.82 and its two-hundred day moving average price is $174.41. General Dynamics Co. has a one year low of $143.87 and a one year high of $207.72. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.73 and a current ratio of 1.09. The firm has a market capitalization of $52.63 billion, a price-to-earnings ratio of 16.14, a PEG ratio of 1.76 and a beta of 1.21.

General Dynamics (NYSE:GD) last posted its quarterly earnings data on Wednesday, July 24th. The aerospace company reported $2.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.68 by $0.09. General Dynamics had a net margin of 8.65% and a return on equity of 26.81%. The company had revenue of $9.56 billion for the quarter, compared to the consensus estimate of $9.36 billion. During the same quarter in the previous year, the firm posted $2.82 EPS. The business’s revenue was up 4.0% compared to the same quarter last year. Research analysts predict that General Dynamics Co. will post 11.86 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, October 11th will be paid a $1.02 dividend. The ex-dividend date of this dividend is Thursday, October 10th. This represents a $4.08 dividend on an annualized basis and a yield of 2.21%. General Dynamics’s payout ratio is currently 35.73%.

About General Dynamics

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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