Americana Partners LLC Acquires New Position in General Dynamics Co. (NYSE:GD)

Americana Partners LLC bought a new position in General Dynamics Co. (NYSE:GD) during the second quarter, Holdings Channel.com reports. The institutional investor bought 9,821 shares of the aerospace company’s stock, valued at approximately $2,849,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Redmont Wealth Advisors LLC purchased a new stake in shares of General Dynamics in the first quarter valued at about $25,000. MeadowBrook Investment Advisors LLC acquired a new position in General Dynamics in the fourth quarter valued at approximately $25,000. Richardson Financial Services Inc. purchased a new stake in General Dynamics in the fourth quarter valued at $25,000. American Capital Advisory LLC purchased a new position in shares of General Dynamics during the 2nd quarter worth $29,000. Finally, Financial Synergies Wealth Advisors Inc. acquired a new stake in shares of General Dynamics during the 1st quarter worth about $29,000. 86.14% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have commented on GD. Morgan Stanley raised shares of General Dynamics from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $293.00 to $345.00 in a research report on Friday, August 9th. Sanford C. Bernstein lifted their target price on shares of General Dynamics from $290.00 to $302.00 and gave the company a “market perform” rating in a report on Thursday, May 23rd. Barclays upped their price target on General Dynamics from $310.00 to $325.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of General Dynamics in a report on Monday, July 29th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $320.00 target price on shares of General Dynamics in a research note on Thursday, July 25th. Six research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $315.06.

General Dynamics Stock Up 0.5 %

Shares of General Dynamics stock traded up $1.53 during trading on Friday, hitting $299.36. 1,033,038 shares of the stock were exchanged, compared to its average volume of 1,060,318. General Dynamics Co. has a 12-month low of $214.53 and a 12-month high of $302.75. 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 $82.13 billion, a price-to-earnings ratio of 24.42, a price-to-earnings-growth ratio of 1.68 and a beta of 0.60. The firm’s 50-day moving average price is $290.64 and its 200 day moving average price is $287.91.

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

General Dynamics Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 11th will be issued a $1.42 dividend. This represents a $5.68 annualized dividend and a dividend yield of 1.90%. The ex-dividend date of this dividend is Friday, October 11th. General Dynamics’s payout ratio is 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.