Axecap Investments LLC Makes New $3.27 Million Investment in General Dynamics Co. (NYSE:GD)

Axecap Investments LLC acquired a new position in shares of General Dynamics Co. (NYSE:GD) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 10,825 shares of the aerospace company’s stock, valued at approximately $3,271,000. General Dynamics makes up 2.5% of Axecap Investments LLC’s portfolio, making the stock its 11th largest holding.

Several other hedge funds also recently added to or reduced their stakes in GD. Redmont Wealth Advisors LLC bought a new position in shares of General Dynamics in the 1st quarter worth about $25,000. MFA Wealth Advisors LLC lifted its position in shares of General Dynamics by 241.7% in the 3rd quarter. MFA Wealth Advisors LLC now owns 82 shares of the aerospace company’s stock worth $25,000 after buying an additional 58 shares during the last quarter. New Covenant Trust Company N.A. bought a new position in shares of General Dynamics in the 1st quarter worth about $29,000. American Capital Advisory LLC bought a new position in shares of General Dynamics in the 2nd quarter worth about $29,000. Finally, Lowe Wealth Advisors LLC bought a new position in shares of General Dynamics in the 3rd quarter worth about $30,000. 86.14% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at General Dynamics

In related news, Director Peter A. Wall sold 1,320 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $308.05, for a total transaction of $406,626.00. Following the transaction, the director now directly owns 3,592 shares of the company’s stock, valued at approximately $1,106,515.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.52% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on GD. Seaport Res Ptn downgraded shares of General Dynamics from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 11th. TD Cowen upgraded shares of General Dynamics to a “strong-buy” rating in a research report on Tuesday, October 8th. Robert W. Baird reiterated an “outperform” rating and issued a $345.00 price objective on shares of General Dynamics in a research report on Tuesday, July 2nd. Royal Bank of Canada reiterated an “outperform” rating and issued a $320.00 price objective on shares of General Dynamics in a research report on Thursday, July 25th. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on shares of General Dynamics from $320.00 to $314.00 and set a “hold” rating on the stock in a research report on Thursday, October 3rd. Seven analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $320.18.

General Dynamics Stock Performance

Shares of GD opened at $304.40 on Thursday. The firm’s 50 day moving average is $300.17 and its 200-day moving average is $294.55. The stock has a market capitalization of $83.52 billion, a P/E ratio of 24.83, a P/E/G ratio of 1.67 and a beta of 0.61. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.33 and a quick ratio of 0.80. General Dynamics Co. has a 12-month low of $232.29 and a 12-month high of $313.11.

General Dynamics (NYSE:GD) last released its 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). The firm had revenue of $11.98 billion during the quarter, compared to analysts’ expectations of $11.46 billion. General Dynamics had a return on equity of 16.74% and a net margin of 7.89%. The business’s revenue was up 18.0% on a year-over-year basis. During the same period last year, the business earned $2.70 earnings per share. Equities research analysts anticipate that General Dynamics Co. will post 14.38 EPS for the current fiscal year.

General Dynamics Dividend Announcement

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. This represents a $5.68 annualized dividend and a dividend yield of 1.87%. The ex-dividend date is Friday, October 11th. General Dynamics’s dividend payout ratio (DPR) is currently 46.33%.

General Dynamics 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.