Royal Fund Management LLC Invests $1.24 Million in General Dynamics Co. (NYSE:GD)

Royal Fund Management LLC acquired a new position in shares of General Dynamics Co. (NYSE:GD) in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 5,750 shares of the aerospace company’s stock, valued at approximately $1,237,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Certified Advisory Corp acquired a new stake in General Dynamics in the 1st quarter valued at $25,000. Pacifica Partners Inc. increased its holdings in General Dynamics by 833.3% in the 1st quarter. Pacifica Partners Inc. now owns 112 shares of the aerospace company’s stock valued at $26,000 after purchasing an additional 100 shares in the last quarter. Guardian Wealth Advisors LLC acquired a new stake in General Dynamics in the 1st quarter valued at $28,000. Live Oak Investment Partners acquired a new stake in General Dynamics in the 4th quarter valued at $30,000. Finally, Princeton Global Asset Management LLC acquired a new stake in General Dynamics in the 1st quarter valued at $31,000. 86.08% of the stock is currently owned by institutional investors and hedge funds.

General Dynamics Stock Performance

Shares of GD stock opened at $224.33 on Tuesday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.90 and a current ratio of 1.39. General Dynamics Co. has a one year low of $202.35 and a one year high of $256.86. The company’s 50-day simple moving average is $221.77 and its 200-day simple moving average is $219.13. The stock has a market capitalization of $61.25 billion, a price-to-earnings ratio of 18.42, a PEG ratio of 1.99 and a beta of 0.84.

General Dynamics (NYSE:GD) last issued its earnings results on Wednesday, July 26th. The aerospace company reported $2.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.59 by $0.11. General Dynamics had a net margin of 8.24% and a return on equity of 18.01%. The firm had revenue of $10.15 billion for the quarter, compared to analysts’ expectations of $9.45 billion. During the same quarter last year, the company posted $2.75 earnings per share. General Dynamics’s revenue was up 10.5% on a year-over-year basis. Equities analysts anticipate that General Dynamics Co. will post 12.64 earnings per share for the current fiscal year.

General Dynamics Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 10th. Shareholders of record on Friday, October 6th will be issued a $1.32 dividend. The ex-dividend date of this dividend is Thursday, October 5th. This represents a $5.28 dividend on an annualized basis and a yield of 2.35%. General Dynamics’s dividend payout ratio is currently 43.35%.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Morgan Stanley raised their target price on General Dynamics from $248.00 to $250.00 in a research note on Thursday, July 27th. StockNews.com assumed coverage on General Dynamics in a research note on Thursday, August 17th. They set a “buy” rating for the company. Finally, Wells Fargo & Company lowered their target price on General Dynamics from $258.00 to $243.00 and set an “overweight” rating for the company in a research note on Monday. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $261.23.

Insiders Place Their Bets

In other news, SVP Marguerite Amy Gilliland sold 13,500 shares of General Dynamics stock in a transaction that occurred on Thursday, August 3rd. The stock was sold at an average price of $225.46, for a total transaction of $3,043,710.00. Following the sale, the senior vice president now owns 44,157 shares of the company’s stock, valued at $9,955,637.22. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, SVP Marguerite Amy Gilliland sold 13,500 shares of the firm’s stock in a transaction that occurred on Thursday, August 3rd. The shares were sold at an average price of $225.46, for a total transaction of $3,043,710.00. Following the transaction, the senior vice president now owns 44,157 shares in the company, valued at $9,955,637.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Phebe N. Novakovic sold 33,230 shares of the firm’s stock in a transaction that occurred on Friday, August 11th. The shares were sold at an average price of $227.96, for a total transaction of $7,575,110.80. Following the transaction, the chief executive officer now owns 778,092 shares in the company, valued at approximately $177,373,852.32. The disclosure for this sale can be found here. Insiders have sold 53,230 shares of company stock valued at $12,086,716 over the last quarter. Insiders own 1.50% of the company’s stock.

General Dynamics Company 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.