Earnest Partners LLC Increases Holdings in General Dynamics Co. (NYSE:GD)

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Earnest Partners LLC grew its holdings in General Dynamics Co. (NYSE:GD) by 2.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 164,804 shares of the aerospace company’s stock after acquiring an additional 4,312 shares during the period. Earnest Partners LLC owned about 0.06% of General Dynamics worth $29,965,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Thoroughbred Financial Services LLC lifted its position in shares of General Dynamics by 18,507.6% in the second quarter. Thoroughbred Financial Services LLC now owns 926,285 shares of the aerospace company’s stock worth $92,628,000 after buying an additional 921,307 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec lifted its position in shares of General Dynamics by 11.4% in the second quarter. Caisse DE Depot ET Placement DU Quebec now owns 3,748,497 shares of the aerospace company’s stock worth $681,552,000 after buying an additional 383,200 shares in the last quarter. Prudential Financial Inc. lifted its position in shares of General Dynamics by 30.5% in the second quarter. Prudential Financial Inc. now owns 965,706 shares of the aerospace company’s stock worth $175,585,000 after buying an additional 225,558 shares in the last quarter. Longview Asset Management LLC lifted its position in shares of General Dynamics by 0.7% in the first quarter. Longview Asset Management LLC now owns 32,898,410 shares of the aerospace company’s stock worth $5,569,043,000 after buying an additional 215,179 shares in the last quarter. Finally, Conning Inc. lifted its position in shares of General Dynamics by 2,626.5% in the second quarter. Conning Inc. now owns 210,949 shares of the aerospace company’s stock worth $38,355,000 after buying an additional 203,212 shares in the last quarter. Institutional investors and hedge funds own 86.31% of the company’s stock.

A number of equities research analysts recently commented on the company. Cowen set a $202.00 target price on General Dynamics and gave the stock a “buy” rating in a research report on Friday, August 30th. Morgan Stanley boosted their target price on General Dynamics from $171.00 to $173.00 and gave the stock an “underweight” rating in a research report on Wednesday, August 14th. Goldman Sachs Group raised General Dynamics from a “neutral” rating to a “buy” rating and set a $204.00 price objective on the stock in a research note on Sunday, May 19th. Zacks Investment Research raised General Dynamics from a “hold” rating to a “buy” rating and set a $203.00 price objective on the stock in a research note on Monday, September 2nd. Finally, Robert W. Baird boosted their price objective on General Dynamics from $188.00 to $218.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 10th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and seven have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $193.35.

In other General Dynamics news, VP Mark Lagrand Burns bought 159 shares of the business’s stock in a transaction dated Friday, August 9th. The shares were purchased at an average price of $179.56 per share, with a total value of $28,550.04. Following the completion of the purchase, the vice president now owns 39,643 shares in the company, valued at approximately $7,118,297.08. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Gary L. Whited sold 14,029 shares of the company’s stock in a transaction that occurred on 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 transaction, the vice president now directly owns 37,542 shares in the company, valued at approximately $7,072,161.96. The disclosure for this sale can be found here. Corporate insiders own 7.10% of the company’s stock.

NYSE GD traded up $0.55 during trading hours on Friday, hitting $189.96. 1,050,738 shares of the company were exchanged, compared to its average volume of 936,777. The stock has a 50-day moving average price of $186.34 and a 200 day moving average price of $176.47. The company has a quick ratio of 0.73, a current ratio of 1.09 and a debt-to-equity ratio of 0.70. General Dynamics Co. has a 52 week low of $143.87 and a 52 week high of $207.72. The stock has a market cap of $54.48 billion, a PE ratio of 16.63, a price-to-earnings-growth ratio of 1.82 and a beta of 1.19.

General Dynamics (NYSE:GD) last issued its quarterly earnings data on Wednesday, July 24th. The aerospace company reported $2.77 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.68 by $0.09. The company had revenue of $9.56 billion for the quarter, compared to analysts’ expectations of $9.36 billion. General Dynamics had a return on equity of 26.81% and a net margin of 8.65%. The firm’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same period in the previous year, the firm posted $2.82 earnings per share. As a group, sell-side analysts anticipate that General Dynamics Co. will post 11.88 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 11th will be paid a dividend of $1.02 per share. The ex-dividend date of this dividend is Thursday, October 10th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 2.15%. General Dynamics’s dividend payout ratio is 35.73%.

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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