Deltec Asset Management LLC Increases Stake in General Dynamics Co. (GD)

Deltec Asset Management LLC lifted its holdings in shares of General Dynamics Co. (NYSE:GD) by 55.0% in the 3rd quarter, HoldingsChannel reports. The fund owned 15,500 shares of the aerospace company’s stock after purchasing an additional 5,500 shares during the period. Deltec Asset Management LLC’s holdings in General Dynamics were worth $3,173,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the company. CSat Investment Advisory L.P. purchased a new position in General Dynamics in the second quarter valued at about $101,000. CX Institutional purchased a new position in General Dynamics in the second quarter valued at about $107,000. James Investment Research Inc. purchased a new position in General Dynamics in the second quarter valued at about $112,000. BerganKDV Wealth Management LLC purchased a new position in General Dynamics in the second quarter valued at about $114,000. Finally, Fort L.P. purchased a new position in General Dynamics in the second quarter valued at about $117,000. 85.41% of the stock is owned by institutional investors.

In other General Dynamics news, insider John Patrick Casey sold 22,500 shares of the firm’s stock in a transaction on Monday, October 15th. The shares were sold at an average price of $193.28, for a total value of $4,348,800.00. Following the sale, the insider now owns 118,555 shares of the company’s stock, valued at approximately $22,914,310.40. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider S. Daniel Johnson sold 77,810 shares of the firm’s stock in a transaction 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 completion of the sale, 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. 6.90% of the stock is owned by company insiders.

Shares of GD stock traded down $2.46 on Thursday, hitting $191.38. 39,043 shares of the company’s stock traded hands, compared to its average volume of 1,500,357. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.84 and a current ratio of 1.20. General Dynamics Co. has a one year low of $184.21 and a one year high of $230.00. The firm has a market cap of $60.81 billion, a P/E ratio of 19.28, a P/E/G ratio of 1.64 and a beta of 0.77.

General Dynamics (NYSE:GD) last released its earnings results on Wednesday, July 25th. The aerospace company reported $2.82 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.49 by $0.33. The company had revenue of $9.19 billion for the quarter, compared to analyst estimates of $9.09 billion. General Dynamics had a net margin of 9.16% and a return on equity of 27.06%. The firm’s quarterly revenue was up 19.7% compared to the same quarter last year. During the same quarter last year, the firm earned $2.45 EPS. As a group, analysts forecast that General Dynamics Co. will post 11.22 EPS for the current 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 issued a $0.93 dividend. This represents a $3.72 dividend on an annualized basis and a yield of 1.94%. The ex-dividend date of this dividend is Thursday, October 4th. General Dynamics’s dividend payout ratio (DPR) is presently 37.39%.

A number of analysts recently commented on GD shares. Cowen restated a “buy” rating and set a $253.00 price target on shares of General Dynamics in a research note on Monday. Drexel Hamilton restated a “buy” rating and set a $230.00 price target on shares of General Dynamics in a research note on Thursday, August 16th. Bank of America set a $275.00 price target on shares of General Dynamics and gave the company a “buy” rating in a research note on Tuesday, July 31st. ValuEngine upgraded shares of General Dynamics from a “sell” rating to a “hold” rating in a research note on Saturday, July 28th. Finally, UBS Group started coverage on shares of General Dynamics in a research note on Wednesday, August 15th. They issued a “neutral” rating and a $210.00 target price on the stock. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and ten have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $241.12.

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.

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

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