Synovus Financial Corp raised its stake in General Dynamics Corporation (NYSE:GD) by 23.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,472 shares of the aerospace company’s stock after acquiring an additional 464 shares during the period. Synovus Financial Corp’s holdings in General Dynamics were worth $508,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in GD. Centre Asset Management LLC grew its position in shares of General Dynamics by 3.5% during the second quarter. Centre Asset Management LLC now owns 29,740 shares of the aerospace company’s stock worth $5,891,000 after purchasing an additional 1,000 shares in the last quarter. Burns J W & Co. Inc. NY acquired a new stake in General Dynamics during the 2nd quarter worth about $202,000. Beacon Financial Group lifted its position in General Dynamics by 3.1% during the 2nd quarter. Beacon Financial Group now owns 8,393 shares of the aerospace company’s stock worth $1,653,000 after acquiring an additional 250 shares during the period. First Command Bank lifted its position in General Dynamics by 31.3% during the 2nd quarter. First Command Bank now owns 952 shares of the aerospace company’s stock worth $189,000 after acquiring an additional 227 shares during the period. Finally, Guinness Asset Management Ltd lifted its position in General Dynamics by 13.1% during the 2nd quarter. Guinness Asset Management Ltd now owns 58,830 shares of the aerospace company’s stock worth $11,654,000 after acquiring an additional 6,820 shares during the period. 86.87% of the stock is currently owned by hedge funds and other institutional investors.

Several brokerages have recently issued reports on GD. Jefferies Group reissued a “buy” rating on shares of General Dynamics in a report on Friday, August 11th. Citigroup reaffirmed a “neutral” rating and issued a $210.00 price target (up previously from $207.00) on shares of General Dynamics in a report on Friday, August 11th. Zacks Investment Research cut General Dynamics from a “buy” rating to a “hold” rating in a report on Friday, October 27th. Cowen reaffirmed a “buy” rating and issued a $230.00 price target on shares of General Dynamics in a report on Thursday, October 26th. Finally, ValuEngine cut General Dynamics from a “buy” rating to a “hold” rating in a report on Thursday, November 30th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and nine have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $218.45.

General Dynamics Corporation (NYSE GD) opened at $201.07 on Friday. The firm has a market capitalization of $59,767.34, a P/E ratio of 19.88, a P/E/G ratio of 2.40 and a beta of 0.72. General Dynamics Corporation has a 52-week low of $168.00 and a 52-week high of $214.81. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.37 and a quick ratio of 0.93.

General Dynamics (NYSE:GD) last issued its quarterly earnings data on Wednesday, October 25th. The aerospace company reported $2.52 earnings per share for the quarter, topping the consensus estimate of $2.43 by $0.09. The company had revenue of $7.58 billion during the quarter, compared to analyst estimates of $7.94 billion. General Dynamics had a return on equity of 27.98% and a net margin of 9.94%. The firm’s revenue for the quarter was down 1.0% compared to the same quarter last year. During the same period in the prior year, the business posted $2.36 earnings per share. analysts anticipate that General Dynamics Corporation will post 9.81 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 9th. Investors of record on Friday, January 19th will be given a $0.84 dividend. The ex-dividend date is Thursday, January 18th. This represents a $3.36 annualized dividend and a yield of 1.67%. General Dynamics’s payout ratio is 33.50%.

In other General Dynamics news, insider John Patrick Casey sold 34,945 shares of the company’s stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $201.38, for a total transaction of $7,037,224.10. Following the transaction, the insider now directly owns 144,378 shares in the company, valued at $29,074,841.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Gregory S. Gallopoulos sold 78,370 shares of the company’s stock in a transaction on Monday, November 6th. The stock was sold at an average price of $202.93, for a total value of $15,903,624.10. The disclosure for this sale can be found here. Corporate insiders own 6.70% of the company’s stock.

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General Dynamics Profile

General Dynamics Corporation is a global aerospace and defense company. The Company offers a portfolio of products and services in business aviation; combat vehicles, weapons systems and munitions; information technology (IT) services and C4ISR (command, control, communications, computers, intelligence, surveillance and reconnaissance) solutions, and shipbuilding and ship repair.

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Institutional Ownership by Quarter for General Dynamics (NYSE:GD)

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