Baird Financial Group Inc. raised its position in shares of General Dynamics Co. (NYSE:GD) by 1.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 53,280 shares of the aerospace company’s stock after buying an additional 563 shares during the quarter. Baird Financial Group Inc.’s holdings in General Dynamics were worth $9,932,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Eaton Vance Management lifted its position in General Dynamics by 2.9% during the first quarter. Eaton Vance Management now owns 158,687 shares of the aerospace company’s stock valued at $35,054,000 after buying an additional 4,485 shares during the period. Arrow Financial Corp increased its holdings in shares of General Dynamics by 14.7% during the second quarter. Arrow Financial Corp now owns 6,541 shares of the aerospace company’s stock valued at $1,219,000 after acquiring an additional 840 shares in the last quarter. Sompo Japan Nipponkoa Asset Management CO. LTD. bought a new stake in General Dynamics in the 2nd quarter worth about $3,403,000. Alerus Financial NA increased its holdings in General Dynamics by 11.6% in the 2nd quarter. Alerus Financial NA now owns 17,432 shares of the aerospace company’s stock worth $3,250,000 after buying an additional 1,808 shares in the last quarter. Finally, Ferguson Wellman Capital Management Inc. bought a new stake in General Dynamics in the 2nd quarter worth about $15,104,000. 85.47% of the stock is owned by institutional investors and hedge funds.

In other General Dynamics news, insider John Patrick Casey sold 22,500 shares of the business’s stock in a transaction dated 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 sale, the insider now directly owns 118,555 shares in the company, valued at approximately $22,761,374.45. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 6.70% of the company’s stock.

General Dynamics stock opened at $194.71 on Friday. The stock has a market cap of $57.99 billion, a price-to-earnings ratio of 19.57, a PEG ratio of 1.57 and a beta of 0.79. General Dynamics Co. has a 52-week low of $184.21 and a 52-week high of $230.00. The company has a quick ratio of 0.84, a current ratio of 1.20 and a debt-to-equity ratio of 0.95.

General Dynamics (NYSE:GD) last released its quarterly earnings results on Wednesday, July 25th. The aerospace company reported $2.82 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.49 by $0.33. The business had revenue of $9.19 billion during the quarter, compared to the consensus estimate of $9.09 billion. General Dynamics had a return on equity of 27.06% and a net margin of 9.16%. The business’s quarterly revenue was up 19.7% compared to the same quarter last year. During the same period in the previous year, the company posted $2.45 EPS. sell-side analysts expect that General Dynamics Co. will post 11.22 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, November 9th. Shareholders of record on Friday, October 5th will be paid a dividend of $0.93 per share. The ex-dividend date is Thursday, October 4th. This represents a $3.72 dividend on an annualized basis and a dividend yield of 1.91%. General Dynamics’s dividend payout ratio is currently 37.39%.

Several equities research analysts recently commented on GD shares. Credit Suisse Group reduced their price objective on General Dynamics from $263.00 to $234.00 in a report on Tuesday, May 22nd. Barclays reiterated an “overweight” rating and issued a $256.00 price objective on shares of General Dynamics in a report on Thursday, June 14th. JPMorgan Chase & Co. reiterated an “underweight” rating and issued a $225.00 price objective on shares of General Dynamics in a report on Thursday, June 14th. ValuEngine downgraded General Dynamics from a “hold” rating to a “sell” rating in a report on Monday, June 18th. Finally, Bank of America set a $275.00 price objective on General Dynamics and gave the stock a “buy” rating in a report on Tuesday, July 31st. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and ten have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $239.39.

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

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