Royal London Asset Management Ltd. Grows Stock Holdings in General Dynamics Co. (NYSE:GD)

Royal London Asset Management Ltd. lifted its holdings in General Dynamics Co. (NYSE:GD) by 9.2% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 119,399 shares of the aerospace company’s stock after purchasing an additional 10,035 shares during the period. Royal London Asset Management Ltd.’s holdings in General Dynamics were worth $36,082,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. MFA Wealth Advisors LLC raised its stake in shares of General Dynamics by 241.7% during the 3rd quarter. MFA Wealth Advisors LLC now owns 82 shares of the aerospace company’s stock worth $25,000 after acquiring an additional 58 shares in the last quarter. Hara Capital LLC acquired a new stake in shares of General Dynamics in the 3rd quarter worth $26,000. American Capital Advisory LLC purchased a new position in General Dynamics during the 2nd quarter worth $29,000. Lowe Wealth Advisors LLC acquired a new position in General Dynamics during the 3rd quarter valued at about $30,000. Finally, Atlantic Edge Private Wealth Management LLC raised its position in General Dynamics by 120.0% during the 2nd quarter. Atlantic Edge Private Wealth Management LLC now owns 110 shares of the aerospace company’s stock worth $32,000 after buying an additional 60 shares during the last quarter. 86.14% of the stock is currently owned by institutional investors.

General Dynamics Stock Performance

Shares of GD opened at $275.15 on Friday. The company has a quick ratio of 0.80, a current ratio of 1.32 and a debt-to-equity ratio of 0.32. General Dynamics Co. has a 12 month low of $247.36 and a 12 month high of $316.90. The company’s fifty day moving average is $296.00 and its 200-day moving average is $295.03. The firm has a market cap of $75.66 billion, a price-to-earnings ratio of 20.96, a price-to-earnings-growth ratio of 1.68 and a beta of 0.59.

General Dynamics (NYSE:GD) last posted its earnings results on Wednesday, October 23rd. The aerospace company reported $3.35 earnings per share for the quarter, missing the consensus estimate of $3.48 by ($0.13). The company had revenue of $11.67 billion for the quarter, compared to the consensus estimate of $11.65 billion. General Dynamics had a net margin of 7.90% and a return on equity of 16.59%. General Dynamics’s quarterly revenue was up 10.4% on a year-over-year basis. During the same quarter last year, the business earned $3.04 earnings per share. Equities analysts expect that General Dynamics Co. will post 13.92 EPS for the current fiscal year.

General Dynamics declared that its board has approved a share repurchase program on Wednesday, December 4th that allows the company to buyback 10,000,000 shares. This buyback authorization allows the aerospace company to repurchase shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

General Dynamics Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Friday, January 17th will be issued a dividend of $1.42 per share. The ex-dividend date is Friday, January 17th. This represents a $5.68 annualized dividend and a yield of 2.06%. General Dynamics’s dividend payout ratio (DPR) is presently 43.26%.

Insider Activity

In other news, Director Peter A. Wall sold 1,320 shares of General Dynamics stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $308.05, for a total transaction of $406,626.00. Following the sale, the director now owns 3,592 shares of the company’s stock, valued at approximately $1,106,515.60. This trade represents a 26.87 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Christopher J. Brady sold 5,540 shares of the firm’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $280.91, for a total value of $1,556,241.40. Following the completion of the transaction, the vice president now directly owns 20,296 shares of the company’s stock, valued at approximately $5,701,349.36. This trade represents a 21.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.52% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on GD shares. Morgan Stanley raised shares of General Dynamics from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $293.00 to $345.00 in a research note on Friday, August 9th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of General Dynamics from $309.00 to $306.00 and set a “hold” rating for the company in a report on Friday, November 1st. Wells Fargo & Company increased their price target on shares of General Dynamics from $317.00 to $322.00 and gave the company an “equal weight” rating in a research note on Thursday, October 24th. Susquehanna boosted their price objective on shares of General Dynamics from $333.00 to $352.00 and gave the company a “positive” rating in a report on Thursday, October 17th. Finally, Seaport Res Ptn downgraded General Dynamics from a “strong-buy” rating to a “hold” rating in a report on Friday, October 11th. Seven equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $323.69.

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.