NewFocus Financial Group LLC Raises Stake in General Dynamics Co. (GD)

NewFocus Financial Group LLC increased its position in General Dynamics Co. (NYSE:GD) by 19.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,667 shares of the aerospace company’s stock after buying an additional 1,758 shares during the period. General Dynamics accounts for approximately 1.2% of NewFocus Financial Group LLC’s investment portfolio, making the stock its 26th biggest holding. NewFocus Financial Group LLC’s holdings in General Dynamics were worth $2,184,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of GD. State Treasurer State of Michigan lifted its position in General Dynamics by 0.9% in the 3rd quarter. State Treasurer State of Michigan now owns 133,627 shares of the aerospace company’s stock valued at $27,356,000 after acquiring an additional 1,200 shares in the last quarter. Asset Advisors Investment Management LLC bought a new position in General Dynamics in the 3rd quarter valued at about $205,000. Edgemoor Investment Advisors Inc. lifted its position in General Dynamics by 1.6% in the 3rd quarter. Edgemoor Investment Advisors Inc. now owns 61,826 shares of the aerospace company’s stock valued at $12,657,000 after acquiring an additional 948 shares in the last quarter. Autus Asset Management LLC lifted its position in General Dynamics by 7.5% in the 3rd quarter. Autus Asset Management LLC now owns 30,645 shares of the aerospace company’s stock valued at $6,274,000 after acquiring an additional 2,136 shares in the last quarter. Finally, Buckley Wealth Management LLC lifted its position in General Dynamics by 19.7% in the 3rd quarter. Buckley Wealth Management LLC now owns 2,923 shares of the aerospace company’s stock valued at $598,000 after acquiring an additional 482 shares in the last quarter. Institutional investors own 85.47% of the company’s stock.

In other General Dynamics news, insider John Patrick Casey sold 22,500 shares of General Dynamics stock in a transaction that occurred on Monday, October 15th. The shares were sold at an average price of $193.28, for a total transaction of $4,348,800.00. Following the transaction, the insider now owns 118,555 shares of the company’s stock, valued at approximately $22,914,310.40. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider S. Daniel Johnson sold 77,810 shares of General Dynamics stock in a transaction that occurred on Friday, September 14th. The stock was sold at an average price of $199.85, for a total transaction of $15,550,328.50. Following the transaction, the insider now directly owns 99,333 shares in the company, valued at approximately $19,851,700.05. The disclosure for this sale can be found here. 6.70% of the stock is owned by company insiders.



General Dynamics stock opened at $169.86 on Friday. General Dynamics Co. has a 52 week low of $167.27 and a 52 week high of $230.00. The company has a current ratio of 1.27, a quick ratio of 0.84 and a debt-to-equity ratio of 0.89. The company has a market cap of $50.52 billion, a price-to-earnings ratio of 15.71, a PEG ratio of 1.37 and a beta of 0.78.

General Dynamics (NYSE:GD) last posted its earnings results on Wednesday, October 24th. The aerospace company reported $2.89 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.76 by $0.13. General Dynamics had a net margin of 9.01% and a return on equity of 27.22%. The firm had revenue of $9.09 billion for the quarter, compared to analysts’ expectations of $9.41 billion. During the same quarter last year, the firm earned $2.52 EPS. The company’s quarterly revenue was up 20.0% compared to the same quarter last year. As a group, sell-side analysts expect that General Dynamics Co. will post 11.25 earnings per share for the current fiscal year.

The company also recently announced 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. The ex-dividend date of this dividend is Thursday, October 4th. This represents a $3.72 annualized dividend and a dividend yield of 2.19%. General Dynamics’s dividend payout ratio is currently 37.39%.

GD has been the topic of several recent research reports. Cowen reaffirmed a “buy” rating and issued a $253.00 price target on shares of General Dynamics in a research report on Monday, October 15th. ValuEngine raised shares of General Dynamics from a “sell” rating to a “hold” rating in a research report on Saturday, July 28th. Bank of America set a $275.00 price target on shares of General Dynamics and gave the company a “buy” rating in a research report on Tuesday, July 31st. UBS Group initiated coverage on shares of General Dynamics in a research report on Wednesday, August 15th. They issued a “neutral” rating and a $210.00 price target on the stock. Finally, Drexel Hamilton reaffirmed a “buy” rating and issued a $230.00 price target on shares of General Dynamics in a research report on Thursday, August 16th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and eleven have issued a buy rating to the stock. General Dynamics currently has a consensus rating of “Hold” and an average price target of $231.00.

About General Dynamics

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.

Further Reading: Calculate Your Return on Investment (ROI)

Want to see what other hedge funds are holding GD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for General Dynamics Co. (NYSE:GD).

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

Receive News & Ratings for General Dynamics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for General Dynamics and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply