General Dynamics Co. (NYSE:GD) Shares Purchased by AMJ Financial Wealth Management

AMJ Financial Wealth Management raised its holdings in General Dynamics Co. (NYSE:GD) by 95.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,301 shares of the aerospace company’s stock after buying an additional 1,612 shares during the period. AMJ Financial Wealth Management’s holdings in General Dynamics were worth $958,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Richardson Financial Services Inc. purchased a new position in shares of General Dynamics in the 4th quarter valued at $25,000. Redmont Wealth Advisors LLC acquired a new position in General Dynamics in the first quarter valued at $25,000. Financial Synergies Wealth Advisors Inc. purchased a new position in shares of General Dynamics during the first quarter worth about $29,000. New Covenant Trust Company N.A. acquired a new stake in shares of General Dynamics during the first quarter worth about $29,000. Finally, American Capital Advisory LLC purchased a new stake in shares of General Dynamics in the 2nd quarter valued at about $29,000. 86.14% of the stock is owned by hedge funds and other institutional investors.

General Dynamics Price Performance

Shares of GD traded up $4.71 during mid-day trading on Tuesday, hitting $306.27. The company’s stock had a trading volume of 151,679 shares, compared to its average volume of 1,063,109. The company has a current ratio of 1.33, a quick ratio of 0.80 and a debt-to-equity ratio of 0.33. General Dynamics Co. has a 1-year low of $214.53 and a 1-year high of $306.44. The firm has a market capitalization of $84.16 billion, a P/E ratio of 24.60, a P/E/G ratio of 1.60 and a beta of 0.61. The firm has a 50-day simple moving average of $291.07 and a 200 day simple moving average of $289.30.

General Dynamics (NYSE:GD) last issued its earnings results on Wednesday, July 24th. The aerospace company reported $3.26 EPS for the quarter, missing the consensus estimate of $3.30 by ($0.04). General Dynamics had a return on equity of 16.74% and a net margin of 7.89%. The company had revenue of $11.98 billion for the quarter, compared to analysts’ expectations of $11.46 billion. During the same quarter in the previous year, the firm posted $2.70 earnings per share. General Dynamics’s revenue for the quarter was up 18.0% on a year-over-year basis. Analysts predict that General Dynamics Co. will post 14.52 EPS for the current fiscal year.

General Dynamics Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, October 11th will be issued a $1.42 dividend. The ex-dividend date of this dividend is Friday, October 11th. This represents a $5.68 dividend on an annualized basis and a yield of 1.85%. General Dynamics’s dividend payout ratio (DPR) is presently 46.33%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on GD. Sanford C. Bernstein raised their price target on General Dynamics from $290.00 to $302.00 and gave the stock a “market perform” rating in a research note on Thursday, May 23rd. Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of General Dynamics in a research report on Monday, July 29th. Royal Bank of Canada reiterated an “outperform” rating and issued a $320.00 price target on shares of General Dynamics in a research report on Thursday, July 25th. Wells Fargo & Company raised their price objective on shares of General Dynamics from $330.00 to $334.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. Finally, Morgan Stanley upgraded shares of General Dynamics from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $293.00 to $345.00 in a research note on Friday, August 9th. Six investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $315.06.

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.