General Dynamics Co. (NYSE:GD) Shares Purchased by Secure Asset Management LLC

Secure Asset Management LLC lifted its stake in General Dynamics Co. (NYSE:GD) by 4.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,731 shares of the aerospace company’s stock after acquiring an additional 258 shares during the period. Secure Asset Management LLC’s holdings in General Dynamics were worth $1,663,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. MeadowBrook Investment Advisors LLC bought a new position in General Dynamics during the 4th quarter valued at $25,000. Richardson Financial Services Inc. acquired a new position in General Dynamics during the fourth quarter worth about $25,000. Redmont Wealth Advisors LLC bought a new stake in General Dynamics in the first quarter worth about $25,000. Financial Synergies Wealth Advisors Inc. acquired a new stake in General Dynamics in the 1st quarter valued at about $29,000. Finally, New Covenant Trust Company N.A. bought a new position in shares of General Dynamics during the 1st quarter valued at about $29,000. Institutional investors and hedge funds own 86.14% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on GD. Morgan Stanley raised shares of General Dynamics from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $293.00 to $345.00 in a research note on Friday, August 9th. StockNews.com cut General Dynamics from a “strong-buy” rating to a “buy” rating in a report on Friday, May 3rd. JPMorgan Chase & Co. boosted their target price on General Dynamics from $280.00 to $298.00 and gave the stock an “overweight” rating in a research report on Thursday, April 25th. Argus increased their price target on General Dynamics from $290.00 to $310.00 and gave the company a “buy” rating in a research report on Monday, April 29th. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of General Dynamics in a report on Monday, July 29th. Six research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $315.06.

General Dynamics Stock Down 0.7 %

NYSE:GD traded down $2.00 during mid-day trading on Friday, reaching $291.45. The stock had a trading volume of 841,684 shares, compared to its average volume of 1,055,741. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.33 and a quick ratio of 0.80. The stock has a market cap of $79.96 billion, a P/E ratio of 23.77, a PEG ratio of 1.68 and a beta of 0.60. The business’s 50 day moving average is $290.89 and its 200 day moving average is $287.01. General Dynamics Co. has a fifty-two week low of $214.53 and a fifty-two week high of $302.75.

General Dynamics (NYSE:GD) last released its quarterly earnings results on Wednesday, July 24th. The aerospace company reported $3.26 earnings per share for the quarter, missing analysts’ consensus estimates of $3.30 by ($0.04). The business had revenue of $11.98 billion for the quarter, compared to the consensus estimate of $11.46 billion. General Dynamics had a net margin of 7.89% and a return on equity of 16.74%. The firm’s revenue for the quarter was up 18.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.70 EPS. As a group, sell-side analysts predict that General Dynamics Co. will post 14.5 earnings per share for the current year.

General Dynamics Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors 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 annualized dividend and a yield of 1.95%. General Dynamics’s dividend payout ratio (DPR) is currently 46.33%.

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.