General Dynamics Co. (GD) Stake Increased by Tower Research Capital LLC TRC
Tower Research Capital LLC TRC grew its holdings in General Dynamics Co. (NYSE:GD) by 1,642.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,283 shares of the aerospace company’s stock after buying an additional 6,865 shares during the quarter. Tower Research Capital LLC TRC’s holdings in General Dynamics were worth $1,357,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also bought and sold shares of GD. Bank of Montreal Can acquired a new stake in shares of General Dynamics in the 2nd quarter valued at approximately $258,844,000. Millennium Management LLC raised its holdings in General Dynamics by 234.2% during the first quarter. Millennium Management LLC now owns 931,892 shares of the aerospace company’s stock worth $205,855,000 after purchasing an additional 653,083 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec raised its holdings in General Dynamics by 29.0% during the second quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,243,297 shares of the aerospace company’s stock worth $418,173,000 after purchasing an additional 504,326 shares during the last quarter. Levin Capital Strategies L.P. acquired a new position in General Dynamics during the second quarter worth $68,282,000. Finally, CI Investments Inc. raised its holdings in General Dynamics by 122.8% during the first quarter. CI Investments Inc. now owns 463,073 shares of the aerospace company’s stock worth $102,293,000 after purchasing an additional 255,188 shares during the last quarter. 85.48% of the stock is owned by institutional investors and hedge funds.
General Dynamics stock opened at $200.51 on Friday. The company has a quick ratio of 0.84, a current ratio of 1.20 and a debt-to-equity ratio of 0.95. The firm has a market cap of $58.28 billion, a price-to-earnings ratio of 20.15, a P/E/G ratio of 1.57 and a beta of 0.79. General Dynamics Co. has a fifty-two week low of $184.21 and a fifty-two week high of $230.00.
The business also recently declared a quarterly dividend, which will be paid on Friday, November 9th. Shareholders of record on Friday, October 5th will be given a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a yield of 1.86%. The ex-dividend date of this dividend is Thursday, October 4th. General Dynamics’s payout ratio is 37.39%.
Several brokerages recently issued reports on GD. Drexel Hamilton reaffirmed a “buy” rating and set a $230.00 price objective on shares of General Dynamics in a report on Thursday, August 16th. Morgan Stanley reduced their price objective on General Dynamics from $215.00 to $207.00 and set an “underweight” rating for the company in a report on Friday, June 22nd. UBS Group began coverage on General Dynamics in a report on Wednesday, August 15th. They set a “neutral” rating and a $210.00 price objective for the company. Zacks Investment Research cut General Dynamics from a “hold” rating to a “sell” rating in a report on Tuesday, June 26th. Finally, ValuEngine raised General Dynamics from a “sell” rating to a “hold” rating in a report on Saturday, July 28th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and ten have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $239.39.
In other General Dynamics news, insider John Patrick Casey sold 22,500 shares of the firm’s stock in a transaction on Monday, July 16th. The stock was sold at an average price of $191.99, for a total transaction of $4,319,775.00. Following the completion of the transaction, the insider now owns 118,555 shares of the company’s stock, valued at $22,761,374.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 6.70% of the company’s stock.
General Dynamics Company Profile
General Dynamics Corporation operates as an aerospace and defense company worldwide. It operates through four business groups: Aerospace; Combat Systems; Information Systems and Technology; and Marine Systems. The Aerospace group designs, develops, manufactures, service and supports business-jet aircraft; and provides aircraft services, such as maintenance, aircraft management, charter, fixed-base operational, and staffing services.
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