General Dynamics Co. (NYSE:GD) Shares Acquired by Manchester Financial Inc.

Manchester Financial Inc. boosted its holdings in General Dynamics Co. (NYSE:GD) by 4.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,512 shares of the aerospace company’s stock after acquiring an additional 58 shares during the period. Manchester Financial Inc.’s holdings in General Dynamics were worth $457,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in GD. International Assets Investment Management LLC increased its position in General Dynamics by 40,389.3% during the 3rd quarter. International Assets Investment Management LLC now owns 1,379,472 shares of the aerospace company’s stock worth $416,876,000 after purchasing an additional 1,376,065 shares in the last quarter. 1832 Asset Management L.P. boosted its position in General Dynamics by 2,189.3% during the second quarter. 1832 Asset Management L.P. now owns 374,207 shares of the aerospace company’s stock worth $108,572,000 after acquiring an additional 357,861 shares during the last quarter. Public Employees Retirement Association of Colorado grew its stake in General Dynamics by 879.9% in the 1st quarter. Public Employees Retirement Association of Colorado now owns 340,359 shares of the aerospace company’s stock worth $96,148,000 after acquiring an additional 305,624 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in General Dynamics by 4.0% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 7,639,758 shares of the aerospace company’s stock valued at $2,216,599,000 after acquiring an additional 293,316 shares during the last quarter. Finally, Hsbc Holdings PLC lifted its stake in shares of General Dynamics by 24.2% during the 2nd quarter. Hsbc Holdings PLC now owns 1,347,247 shares of the aerospace company’s stock worth $391,119,000 after purchasing an additional 262,164 shares during the period. 86.14% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Seaport Res Ptn lowered General Dynamics from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 11th. Royal Bank of Canada upped their price objective on shares of General Dynamics from $320.00 to $330.00 and gave the company an “outperform” rating in a research note on Thursday. Citigroup raised their target price on shares of General Dynamics from $331.00 to $354.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Wells Fargo & Company lifted their price target on shares of General Dynamics from $317.00 to $322.00 and gave the company an “equal weight” rating in a report on Thursday. Finally, Barclays lifted their target price on General Dynamics from $310.00 to $325.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. Seven research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $323.88.

Insider Activity

In other news, Director Peter A. Wall sold 1,320 shares of the firm’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $308.05, for a total value of $406,626.00. Following the transaction, the director now directly owns 3,592 shares in the company, valued at approximately $1,106,515.60. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 1.52% of the company’s stock.

General Dynamics Stock Performance

Shares of GD stock opened at $302.52 on Friday. The firm has a market capitalization of $83.13 billion, a P/E ratio of 23.60, a P/E/G ratio of 1.72 and a beta of 0.61. General Dynamics Co. has a 12 month low of $236.58 and a 12 month high of $313.11. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.33 and a quick ratio of 0.80. The company’s fifty day moving average price is $300.40 and its two-hundred day moving average price is $294.71.

General Dynamics (NYSE:GD) last issued its quarterly earnings results on Wednesday, October 23rd. The aerospace company reported $3.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.48 by ($0.13). General Dynamics had a return on equity of 16.74% and a net margin of 7.89%. The company had revenue of $11.67 billion during the quarter, compared to the consensus estimate of $11.65 billion. During the same quarter last year, the firm posted $3.04 EPS. The firm’s quarterly revenue was up 10.4% on a year-over-year basis. On average, research analysts anticipate that General Dynamics Co. will post 14.27 earnings per share for the current fiscal year.

General Dynamics Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 11th will be given a $1.42 dividend. The ex-dividend date is Friday, October 11th. This represents a $5.68 annualized dividend and a dividend yield of 1.88%. General Dynamics’s payout ratio is 44.31%.

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.