Edgemoor Investment Advisors Inc. Has $16.65 Million Stake in General Dynamics Co. (NYSE:GD)

Edgemoor Investment Advisors Inc. boosted its holdings in General Dynamics Co. (NYSE:GD) by 1.7% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 57,386 shares of the aerospace company’s stock after acquiring an additional 984 shares during the quarter. General Dynamics accounts for about 1.5% of Edgemoor Investment Advisors Inc.’s holdings, making the stock its 16th biggest position. Edgemoor Investment Advisors Inc.’s holdings in General Dynamics were worth $16,650,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of GD. Gilbert & Cook Inc. boosted its position in shares of General Dynamics by 5.1% during the fourth quarter. Gilbert & Cook Inc. now owns 2,509 shares of the aerospace company’s stock valued at $652,000 after buying an additional 122 shares during the last quarter. Principal Securities Inc. bought a new stake in shares of General Dynamics in the 4th quarter worth $1,056,000. BNP Paribas Financial Markets raised its holdings in shares of General Dynamics by 61.4% in the fourth quarter. BNP Paribas Financial Markets now owns 207,156 shares of the aerospace company’s stock valued at $53,792,000 after purchasing an additional 78,800 shares during the last quarter. AGF Management Ltd. lifted its position in shares of General Dynamics by 9.1% during the fourth quarter. AGF Management Ltd. now owns 14,939 shares of the aerospace company’s stock valued at $3,879,000 after purchasing an additional 1,245 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in General Dynamics by 3.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,371,123 shares of the aerospace company’s stock worth $356,040,000 after purchasing an additional 45,200 shares during the last quarter. Institutional investors own 86.14% of the company’s stock.

General Dynamics Price Performance

Shares of General Dynamics stock traded up $8.81 during trading on Monday, hitting $301.59. The stock had a trading volume of 245,893 shares, compared to its average volume of 1,058,687. The company has a current ratio of 1.33, a quick ratio of 0.80 and a debt-to-equity ratio of 0.33. General Dynamics Co. has a 12 month low of $214.53 and a 12 month high of $302.75. The firm has a market cap of $82.87 billion, a price-to-earnings ratio of 24.37, a P/E/G ratio of 1.60 and a beta of 0.61. The business’s 50-day moving average is $290.80 and its 200 day moving average is $289.10.

General Dynamics (NYSE:GD) last released its quarterly earnings results on Wednesday, July 24th. The aerospace company reported $3.26 earnings per share for the quarter, missing the consensus estimate of $3.30 by ($0.04). General Dynamics had a net margin of 7.89% and a return on equity of 16.74%. The business had revenue of $11.98 billion during the quarter, compared to analysts’ expectations of $11.46 billion. During the same period in the previous year, the business earned $2.70 EPS. The business’s revenue was up 18.0% on a year-over-year basis. As a group, sell-side analysts anticipate that General Dynamics Co. will post 14.52 earnings per share for the current year.

General Dynamics Dividend Announcement

The business also recently declared 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 dividend on an annualized basis and a dividend yield of 1.88%. The ex-dividend date of this dividend is Friday, October 11th. General Dynamics’s payout ratio is 46.33%.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Morgan Stanley raised General Dynamics from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $293.00 to $345.00 in a research report on Friday, August 9th. Sanford C. Bernstein boosted their price target on shares of General Dynamics from $290.00 to $302.00 and gave the stock a “market perform” rating in a report on Thursday, May 23rd. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of General Dynamics in a research report on Monday, July 29th. Wells Fargo & Company increased their target price on shares of General Dynamics from $330.00 to $334.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. Finally, Barclays lifted their price target on shares of General Dynamics from $310.00 to $325.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. Six investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $315.06.

General Dynamics Company Profile

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.