Sky Investment Group LLC Buys 907 Shares of General Dynamics Co. (NYSE:GD)

Sky Investment Group LLC increased its position in shares of General Dynamics Co. (NYSE:GD - Free Report) by 6.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 14,897 shares of the aerospace company's stock after purchasing an additional 907 shares during the quarter. Sky Investment Group LLC's holdings in General Dynamics were worth $4,061,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in General Dynamics by 3.1% during the fourth quarter. Vanguard Group Inc. now owns 23,780,078 shares of the aerospace company's stock worth $6,265,813,000 after buying an additional 706,317 shares during the last quarter. Capital Research Global Investors increased its holdings in General Dynamics by 7.4% during the fourth quarter. Capital Research Global Investors now owns 6,734,148 shares of the aerospace company's stock worth $1,774,381,000 after buying an additional 463,497 shares during the last quarter. Geode Capital Management LLC increased its holdings in General Dynamics by 2.4% during the fourth quarter. Geode Capital Management LLC now owns 5,688,672 shares of the aerospace company's stock worth $1,496,939,000 after buying an additional 131,268 shares during the last quarter. Sanders Capital LLC lifted its holdings in General Dynamics by 0.8% during the fourth quarter. Sanders Capital LLC now owns 4,212,422 shares of the aerospace company's stock valued at $1,109,931,000 after purchasing an additional 33,962 shares during the last quarter. Finally, Royal Bank of Canada raised its position in shares of General Dynamics by 5.2% in the fourth quarter. Royal Bank of Canada now owns 2,935,046 shares of the aerospace company's stock valued at $773,355,000 after purchasing an additional 145,978 shares during the period. 86.14% of the stock is currently owned by hedge funds and other institutional investors.

General Dynamics Price Performance

Shares of GD stock traded up $3.02 during trading hours on Friday, hitting $282.95. 1,649,124 shares of the company's stock were exchanged, compared to its average volume of 1,384,735. The company has a current ratio of 1.37, a quick ratio of 0.82 and a debt-to-equity ratio of 0.33. General Dynamics Co. has a 12-month low of $239.20 and a 12-month high of $316.90. The company has a market capitalization of $75.94 billion, a PE ratio of 20.74, a PEG ratio of 1.69 and a beta of 0.46. The business's 50 day simple moving average is $274.04 and its 200-day simple moving average is $266.63.

General Dynamics (NYSE:GD - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The aerospace company reported $3.66 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.43 by $0.23. The firm had revenue of $12.22 billion for the quarter, compared to analysts' expectations of $11.92 billion. General Dynamics had a net margin of 7.93% and a return on equity of 17.10%. The company's revenue for the quarter was up 13.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.88 earnings per share. On average, equities research analysts anticipate that General Dynamics Co. will post 14.83 earnings per share for the current year.

General Dynamics Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 8th. Shareholders of record on Thursday, July 3rd will be issued a $1.50 dividend. This represents a $6.00 annualized dividend and a yield of 2.12%. The ex-dividend date is Thursday, July 3rd. General Dynamics's dividend payout ratio (DPR) is currently 41.61%.

Analysts Set New Price Targets

GD has been the subject of a number of recent research reports. William Blair lowered shares of General Dynamics from an "outperform" rating to a "market perform" rating in a research note on Friday, February 21st. TD Securities increased their price objective on General Dynamics from $275.00 to $290.00 and gave the stock a "buy" rating in a report on Thursday, April 24th. Argus set a $295.00 target price on General Dynamics in a report on Tuesday, May 6th. Morgan Stanley cut their price objective on shares of General Dynamics from $305.00 to $300.00 and set an "equal weight" rating for the company in a research report on Thursday, April 24th. Finally, Citigroup cut their price objective on shares of General Dynamics from $335.00 to $330.00 and set a "buy" rating for the company in a research report on Thursday, April 10th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $293.00.

General Dynamics Profile

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.