Mutual of America Capital Management LLC Has $6.56 Million Holdings in General Dynamics Co. (GD)
Mutual of America Capital Management LLC raised its position in General Dynamics Co. (NYSE:GD) by 0.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 35,170 shares of the aerospace company’s stock after buying an additional 277 shares during the quarter. Mutual of America Capital Management LLC’s holdings in General Dynamics were worth $6,556,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently modified their holdings of GD. Eaton Vance Management lifted its stake in shares of General Dynamics by 2.9% in the 1st quarter. Eaton Vance Management now owns 158,687 shares of the aerospace company’s stock valued at $35,054,000 after acquiring an additional 4,485 shares during the last quarter. Arrow Financial Corp grew its holdings in shares of General Dynamics by 14.7% during the 2nd quarter. Arrow Financial Corp now owns 6,541 shares of the aerospace company’s stock worth $1,219,000 after acquiring an additional 840 shares during the period. Sompo Japan Nipponkoa Asset Management CO. LTD. purchased a new position in shares of General Dynamics during the 2nd quarter worth approximately $3,403,000. Alerus Financial NA grew its stake in shares of 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 during the last quarter. Finally, Independent Advisor Alliance grew its stake in shares of General Dynamics by 9.4% in the 2nd quarter. Independent Advisor Alliance now owns 6,430 shares of the aerospace company’s stock worth $1,095,000 after buying an additional 554 shares during the last quarter. Hedge funds and other institutional investors own 85.47% of the company’s stock.
Several research firms recently weighed in on GD. Drexel Hamilton restated a “buy” rating and issued a $230.00 price target on shares of General Dynamics in a research note on Thursday, August 16th. Morgan Stanley cut their price target on General Dynamics from $215.00 to $207.00 and set an “underweight” rating on the stock in a research note on Friday, June 22nd. UBS Group began coverage on General Dynamics in a research note on Wednesday, August 15th. They issued a “neutral” rating and a $210.00 price target on the stock. Zacks Investment Research downgraded General Dynamics from a “hold” rating to a “sell” rating in a research note on Tuesday, June 26th. Finally, ValuEngine upgraded General Dynamics from a “sell” rating to a “hold” rating in a research note on Saturday, July 28th. Three analysts have rated the stock with a sell rating, six have given a hold rating and ten have assigned a buy rating to the company. General Dynamics presently has an average rating of “Hold” and an average price target of $239.39.
Shares of NYSE GD opened at $194.71 on Friday. The company has a quick ratio of 0.84, a current ratio of 1.20 and a debt-to-equity ratio of 0.95. The stock has a market capitalization 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 1 year low of $184.21 and a 1 year high of $230.00.
General Dynamics (NYSE:GD) last posted its quarterly earnings results on Wednesday, July 25th. The aerospace company reported $2.82 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.49 by $0.33. General Dynamics had a net margin of 9.16% and a return on equity of 27.06%. The firm had revenue of $9.19 billion during the quarter, compared to the consensus estimate of $9.09 billion. During the same quarter in the previous year, the firm posted $2.45 earnings per share. The company’s revenue was up 19.7% on a year-over-year basis. sell-side analysts predict that General Dynamics Co. will post 11.22 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, November 9th. Stockholders of record on Friday, October 5th will be paid a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a dividend yield of 1.91%. The ex-dividend date is Thursday, October 4th. General Dynamics’s dividend payout ratio is presently 37.39%.
General Dynamics 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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