Retirement Systems of Alabama Buys 42 Shares of General Dynamics Co. (NYSE:GD)

Retirement Systems of Alabama raised its stake in General Dynamics Co. (NYSE:GD) by 0.1% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 50,153 shares of the aerospace company’s stock after acquiring an additional 42 shares during the period. Retirement Systems of Alabama’s holdings in General Dynamics were worth $14,551,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. GUNN & Co INVESTMENT MANAGEMENT INC. bought a new position in General Dynamics during the fourth quarter valued at $26,520,000. Atria Wealth Solutions Inc. grew its position in General Dynamics by 3.9% in the fourth quarter. Atria Wealth Solutions Inc. now owns 26,406 shares of the aerospace company’s stock worth $6,857,000 after acquiring an additional 998 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. increased its stake in General Dynamics by 15.5% during the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 5,231 shares of the aerospace company’s stock worth $1,358,000 after acquiring an additional 702 shares during the last quarter. Meritage Portfolio Management raised its position in General Dynamics by 29.7% during the fourth quarter. Meritage Portfolio Management now owns 1,328 shares of the aerospace company’s stock valued at $345,000 after purchasing an additional 304 shares during the period. Finally, Syon Capital LLC lifted its stake in shares of General Dynamics by 30.0% in the 4th quarter. Syon Capital LLC now owns 2,026 shares of the aerospace company’s stock valued at $526,000 after purchasing an additional 468 shares during the last quarter. Institutional investors own 86.14% of the company’s stock.

General Dynamics Price Performance

GD traded down $2.00 during trading on Friday, hitting $291.45. The company’s stock had a trading volume of 864,741 shares, compared to its average volume of 1,055,741. The company has a current ratio of 1.33, a quick ratio of 0.80 and a debt-to-equity ratio of 0.33. The firm has a market capitalization of $79.96 billion, a price-to-earnings ratio of 23.77, a P/E/G ratio of 1.68 and a beta of 0.60. The business’s fifty day simple moving average is $290.89 and its 200 day simple moving average is $287.01. General Dynamics Co. has a twelve month low of $214.53 and a twelve month high of $302.75.

General Dynamics (NYSE:GD) last posted its quarterly earnings data on Wednesday, July 24th. The aerospace company reported $3.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.30 by ($0.04). The firm had revenue of $11.98 billion during the quarter, compared to analyst estimates of $11.46 billion. General Dynamics had a return on equity of 16.74% and a net margin of 7.89%. The company’s quarterly revenue was up 18.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.70 earnings per share. On average, equities research analysts forecast that General Dynamics Co. will post 14.5 EPS for the current fiscal year.

General Dynamics Announces Dividend

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 dividend of $1.42 per share. This represents a $5.68 annualized dividend and a dividend yield of 1.95%. The ex-dividend date is Friday, October 11th. General Dynamics’s dividend payout ratio is currently 46.33%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Argus increased their target price on shares of General Dynamics from $290.00 to $310.00 and gave the company a “buy” rating in a research note on Monday, April 29th. BTIG Research assumed coverage on shares of General Dynamics in a research note on Wednesday, June 26th. They issued a “buy” rating and a $345.00 price objective for the company. Sanford C. Bernstein upped 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. StockNews.com lowered shares of General Dynamics from a “strong-buy” rating to a “buy” rating in a report on Friday, May 3rd. Finally, Wells Fargo & Company upped their target price on shares of General Dynamics from $330.00 to $334.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. Six investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, General Dynamics has an average rating of “Moderate Buy” and a consensus target price of $315.06.

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.