Studio Investment Management LLC Has $7.11 Million Stock Holdings in General Dynamics Co. (NYSE:GD)

Studio Investment Management LLC raised its stake in shares of General Dynamics Co. (NYSE:GD) by 2.0% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 24,511 shares of the aerospace company’s stock after buying an additional 488 shares during the period. General Dynamics comprises about 1.6% of Studio Investment Management LLC’s investment portfolio, making the stock its 12th biggest holding. Studio Investment Management LLC’s holdings in General Dynamics were worth $7,112,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of GD. Modera Wealth Management LLC grew its stake in General Dynamics by 0.4% during the second quarter. Modera Wealth Management LLC now owns 8,120 shares of the aerospace company’s stock worth $2,356,000 after buying an additional 35 shares during the last quarter. Legend Financial Advisors Inc. increased its holdings in General Dynamics by 46.8% during the 1st quarter. Legend Financial Advisors Inc. now owns 113 shares of the aerospace company’s stock valued at $32,000 after purchasing an additional 36 shares in the last quarter. Diversified Trust Co raised its position in General Dynamics by 2.5% in the 1st quarter. Diversified Trust Co now owns 1,503 shares of the aerospace company’s stock valued at $425,000 after purchasing an additional 36 shares during the last quarter. Fulton Bank N.A. boosted its stake in General Dynamics by 1.1% in the first quarter. Fulton Bank N.A. now owns 3,299 shares of the aerospace company’s stock worth $932,000 after purchasing an additional 37 shares in the last quarter. Finally, Copperwynd Financial LLC grew its holdings in shares of General Dynamics by 3.7% during the fourth quarter. Copperwynd Financial LLC now owns 1,056 shares of the aerospace company’s stock worth $274,000 after purchasing an additional 38 shares during the last quarter. 86.14% of the stock is currently owned by hedge funds and other institutional investors.

General Dynamics Trading Up 0.3 %

NYSE:GD opened at $302.44 on Wednesday. The firm has a market capitalization of $83.10 billion, a price-to-earnings ratio of 24.67, a PEG ratio of 1.60 and a beta of 0.61. General Dynamics Co. has a 1-year low of $214.53 and a 1-year high of $306.51. The business’s 50-day moving average price is $291.40 and its two-hundred day moving average price is $289.50. 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 (NYSE:GD) last released its quarterly earnings data 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 return on equity of 16.74% and a net margin of 7.89%. The firm had revenue of $11.98 billion for the quarter, compared to the consensus estimate of $11.46 billion. During the same period in the previous year, the business earned $2.70 EPS. The firm’s revenue was up 18.0% compared to the same quarter last year. On average, equities analysts expect that General Dynamics Co. will post 14.52 earnings per share for the current year.

General Dynamics Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, October 11th will be given 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 dividend payout ratio is currently 46.33%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on GD shares. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $320.00 price target on shares of General Dynamics in a report on Thursday, July 25th. BTIG Research started coverage on shares of General Dynamics in a research note on Wednesday, June 26th. They issued a “buy” rating and a $345.00 target price for the company. Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of General Dynamics in a research note on Monday, July 29th. Morgan Stanley upgraded shares of General Dynamics from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $293.00 to $345.00 in a research report on Friday, August 9th. Finally, Wells Fargo & Company increased their price objective on General Dynamics from $330.00 to $334.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. Six investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target 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.