Nomura Holdings Inc. Boosts Stake in General Dynamics Co. (NYSE:GD)

Nomura Holdings Inc. boosted its stake in shares of General Dynamics Co. (NYSE:GD) by 454.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 69,491 shares of the aerospace company’s stock after acquiring an additional 56,967 shares during the quarter. Nomura Holdings Inc.’s holdings in General Dynamics were worth $12,660,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Bank of The West boosted its holdings in shares of General Dynamics by 16.0% in the second quarter. Bank of The West now owns 24,024 shares of the aerospace company’s stock valued at $4,368,000 after purchasing an additional 3,319 shares during the period. Holowesko Partners Ltd. lifted its holdings in shares of General Dynamics by 22.1% during the 2nd quarter. Holowesko Partners Ltd. now owns 13,800 shares of the aerospace company’s stock valued at $2,509,000 after purchasing an additional 2,500 shares during the last quarter. Confluence Investment Management LLC increased its position in shares of General Dynamics by 4.7% in the 2nd quarter. Confluence Investment Management LLC now owns 103,483 shares of the aerospace company’s stock valued at $18,815,000 after acquiring an additional 4,606 shares during the period. Connecticut Wealth Management LLC increased its position in shares of General Dynamics by 11.5% in the 2nd quarter. Connecticut Wealth Management LLC now owns 1,857 shares of the aerospace company’s stock valued at $338,000 after acquiring an additional 191 shares during the period. Finally, Weiss Asset Management LP acquired a new position in shares of General Dynamics in the 1st quarter valued at $205,000. 86.25% of the stock is currently owned by institutional investors.

GD traded up $0.35 during midday trading on Friday, hitting $188.48. 46,603 shares of the company were exchanged, compared to its average volume of 963,248. The company’s 50 day simple moving average is $186.49 and its 200 day simple moving average is $177.05. The firm has a market capitalization of $55.26 billion, a price-to-earnings ratio of 16.51, a price-to-earnings-growth ratio of 1.85 and a beta of 1.19. The company has a current ratio of 1.09, a quick ratio of 0.73 and a debt-to-equity ratio of 0.70. General Dynamics Co. has a 1-year low of $143.87 and a 1-year high of $207.72.

General Dynamics (NYSE:GD) last issued its quarterly earnings results on Wednesday, July 24th. The aerospace company reported $2.77 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.68 by $0.09. The firm had revenue of $9.56 billion for the quarter, compared to analyst estimates of $9.36 billion. General Dynamics had a net margin of 8.65% and a return on equity of 26.81%. General Dynamics’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same period last year, the company posted $2.82 EPS. On average, equities analysts anticipate that General Dynamics Co. will post 11.88 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, October 11th will be paid a $1.02 dividend. This represents a $4.08 dividend on an annualized basis and a yield of 2.16%. The ex-dividend date is Thursday, October 10th. General Dynamics’s dividend payout ratio (DPR) is 35.73%.

In other General Dynamics news, VP Gary L. Whited sold 14,029 shares of the firm’s stock in a transaction that occurred on Tuesday, July 30th. The shares were sold at an average price of $188.38, for a total value of $2,642,783.02. Following the transaction, the vice president now directly owns 37,542 shares of the company’s stock, valued at approximately $7,072,161.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Mark Lagrand Burns bought 159 shares of the firm’s stock in a transaction on Friday, August 9th. The stock was acquired at an average cost of $179.56 per share, for a total transaction of $28,550.04. Following the completion of the purchase, the vice president now directly owns 39,643 shares in the company, valued at $7,118,297.08. The disclosure for this purchase can be found here. Company insiders own 7.10% of the company’s stock.

Several equities analysts recently issued reports on the company. Zacks Investment Research raised General Dynamics from a “hold” rating to a “buy” rating and set a $203.00 target price on the stock in a research report on Monday, September 2nd. Morgan Stanley upped their target price on General Dynamics from $171.00 to $173.00 and gave the company an “underweight” rating in a research report on Wednesday, August 14th. Robert W. Baird upped their target price on General Dynamics from $188.00 to $218.00 and gave the company an “outperform” rating in a research report on Wednesday, July 10th. ValuEngine raised General Dynamics from a “sell” rating to a “hold” rating in a research report on Thursday, June 6th. Finally, Cowen set a $202.00 target price on General Dynamics and gave the company a “buy” rating in a research report on Friday, August 30th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and seven have issued a buy rating to the company. General Dynamics currently has a consensus rating of “Hold” and a consensus price target of $193.35.

General Dynamics Company Profile

General Dynamics Corporation operates as an aerospace and defense company worldwide. It operates in five segments: Aerospace, Combat Systems, Information Technology, Mission Systems, and Marine Systems. The Aerospace segment designs, manufactures, and supports business-jet aircraft; and offers business-aviation services, including maintenance, fixed-base operation, government fleet, aircraft management, charter, and staffing services, as well as integrated aviation solutions.

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

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