Ellis Investment Partners LLC Purchases 95 Shares of General Dynamics Co. (NYSE:GD)

Ellis Investment Partners LLC raised its position in General Dynamics Co. (NYSE:GD) by 1.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,189 shares of the aerospace company’s stock after purchasing an additional 95 shares during the period. Ellis Investment Partners LLC’s holdings in General Dynamics were worth $1,506,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD increased its position in shares of General Dynamics by 2.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 4,782,612 shares of the aerospace company’s stock worth $1,351,041,000 after purchasing an additional 115,063 shares during the last quarter. Sanders Capital LLC raised its position in shares of General Dynamics by 3.7% during the 4th quarter. Sanders Capital LLC now owns 4,164,857 shares of the aerospace company’s stock valued at $1,081,488,000 after buying an additional 147,800 shares in the last quarter. Norges Bank purchased a new stake in shares of General Dynamics during the 4th quarter valued at $728,284,000. Northern Trust Corp grew its position in General Dynamics by 1.1% in the fourth quarter. Northern Trust Corp now owns 2,282,757 shares of the aerospace company’s stock worth $592,764,000 after acquiring an additional 24,395 shares in the last quarter. Finally, Boston Partners increased its stake in General Dynamics by 1.4% in the first quarter. Boston Partners now owns 1,680,666 shares of the aerospace company’s stock valued at $474,927,000 after acquiring an additional 23,262 shares during the last quarter. 86.14% of the stock is currently owned by hedge funds and other institutional investors.

General Dynamics Stock Down 1.5 %

NYSE GD opened at $292.78 on Friday. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.33 and a quick ratio of 0.80. The stock has a market capitalization of $80.33 billion, a PE ratio of 23.88, a PEG ratio of 1.64 and a beta of 0.61. General Dynamics Co. has a 1 year low of $214.53 and a 1 year high of $302.75. The business’s 50-day moving average is $290.80 and its 200 day moving average is $288.98.

General Dynamics (NYSE:GD) last posted its earnings results on Wednesday, July 24th. The aerospace company reported $3.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.30 by ($0.04). The business had revenue of $11.98 billion during the quarter, compared to the consensus estimate of $11.46 billion. General Dynamics had a return on equity of 16.74% and a net margin of 7.89%. The firm’s revenue for the quarter was up 18.0% compared to the same quarter last year. During the same period in the previous year, the business earned $2.70 earnings per share. Sell-side analysts forecast that General Dynamics Co. will post 14.52 earnings per share for the current year.

General Dynamics Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, October 11th will be paid a $1.42 dividend. The ex-dividend date is Friday, October 11th. This represents a $5.68 annualized dividend and a dividend yield of 1.94%. General Dynamics’s payout ratio is presently 46.33%.

Analyst Ratings Changes

GD has been the subject of several research analyst reports. BTIG Research assumed coverage on General Dynamics in a research note on Wednesday, June 26th. They set a “buy” rating and a $345.00 price target for the company. Robert W. Baird restated an “outperform” rating and issued a $345.00 target price on shares of General Dynamics in a research report on Tuesday, July 2nd. Morgan Stanley upgraded shares of General Dynamics from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $293.00 to $345.00 in a research report on Friday, August 9th. Wells Fargo & Company lifted their price target on shares of General Dynamics from $330.00 to $334.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of General Dynamics in a research note on Monday, July 29th. Six investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $315.06.

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.