Parallel Advisors LLC Grows Stock Holdings in General Dynamics Co. (NYSE:GD)

Parallel Advisors LLC increased its holdings in General Dynamics Co. (NYSE:GD) by 0.8% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,968 shares of the aerospace company’s stock after purchasing an additional 40 shares during the period. Parallel Advisors LLC’s holdings in General Dynamics were worth $1,441,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Price T Rowe Associates Inc. MD lifted its position in General Dynamics by 2.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 4,782,612 shares of the aerospace company’s stock valued at $1,351,041,000 after purchasing an additional 115,063 shares during the last quarter. Sanders Capital LLC boosted its holdings in 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 acquiring an additional 147,800 shares during the period. Norges Bank bought a new position in shares of General Dynamics in the fourth quarter worth about $728,284,000. Northern Trust Corp grew its stake in General Dynamics by 1.1% in the 4th 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 grew 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 worth $474,927,000 after purchasing an additional 23,262 shares in the last quarter. Institutional investors own 86.14% of the company’s stock.

General Dynamics Price Performance

General Dynamics stock opened at $304.80 on Monday. General Dynamics Co. has a 52-week low of $214.53 and a 52-week high of $306.51. The firm has a market capitalization of $83.63 billion, a price-to-earnings ratio of 24.86, a PEG ratio of 1.64 and a beta of 0.61. The company has a quick ratio of 0.80, a current ratio of 1.33 and a debt-to-equity ratio of 0.33. The company has a fifty day simple moving average of $292.48 and a 200-day simple moving average of $290.09.

General Dynamics (NYSE:GD) last issued 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). General Dynamics had a net margin of 7.89% and a return on equity of 16.74%. The company had revenue of $11.98 billion during the quarter, compared to analysts’ expectations of $11.46 billion. During the same quarter in the previous year, the company earned $2.70 earnings per share. The firm’s quarterly revenue was up 18.0% compared to the same quarter last year. On average, equities analysts anticipate that General Dynamics Co. will post 14.52 EPS for the current fiscal year.

General Dynamics Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, October 11th will be given a $1.42 dividend. The ex-dividend date of this dividend is Friday, October 11th. This represents a $5.68 dividend on an annualized basis and a yield of 1.86%. General Dynamics’s dividend payout ratio is currently 46.33%.

Wall Street Analysts Forecast Growth

GD has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of General Dynamics in a research report on Monday, July 29th. Robert W. Baird restated an “outperform” rating and set a $345.00 price objective on shares of General Dynamics in a report on Tuesday, July 2nd. Royal Bank of Canada restated an “outperform” rating and issued a $320.00 target price on shares of General Dynamics in a research note on Thursday, July 25th. Sanford C. Bernstein lifted their price objective on shares of General Dynamics from $290.00 to $302.00 and gave the company a “market perform” rating in a research note on Thursday, May 23rd. Finally, BTIG Research initiated coverage on General Dynamics in a research note on Wednesday, June 26th. They issued a “buy” rating and a $345.00 target price on the stock. Six equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, General Dynamics currently has an average rating of “Moderate Buy” and an average 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.