General Dynamics Co. (NYSE:GD) Stake Cut by MBA Advisors LLC

MBA Advisors LLC decreased its holdings in General Dynamics Co. (NYSE:GD) by 2.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,392 shares of the aerospace company’s stock after selling 65 shares during the period. MBA Advisors LLC’s holdings in General Dynamics were worth $694,000 as of its most recent SEC filing.

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

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Barclays raised 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. Robert W. Baird reaffirmed an “outperform” rating and set a $345.00 price objective on shares of General Dynamics in a research report on Tuesday, July 2nd. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of General Dynamics in a research report on Monday, July 29th. Wells Fargo & Company raised their price objective on shares of General Dynamics from $330.00 to $334.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. Finally, Sanford C. Bernstein raised their price objective on shares of General Dynamics from $290.00 to $302.00 and gave the company a “market perform” rating in a research report on Thursday, May 23rd. Six equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $315.06.

General Dynamics Stock Performance

GD stock traded up $1.53 on Friday, reaching $299.36. 1,033,038 shares of the company were exchanged, compared to its average volume of 1,060,318. The firm has a market capitalization of $82.13 billion, a PE ratio of 24.43, a PEG ratio of 1.68 and a beta of 0.60. General Dynamics Co. has a 12 month low of $214.53 and a 12 month high of $302.75. The stock’s fifty day moving average price is $290.62 and its 200 day moving average price is $287.70. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.33 and a quick ratio of 0.80.

General Dynamics (NYSE:GD) last posted its quarterly earnings data on Wednesday, July 24th. The aerospace company reported $3.26 earnings per share (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 the consensus estimate of $11.46 billion. During the same quarter in the previous year, the firm posted $2.70 EPS. The business’s revenue for the quarter was up 18.0% compared to the same quarter last year. On average, research analysts anticipate that General Dynamics Co. will post 14.5 EPS for the current fiscal year.

General Dynamics Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, October 11th will be given 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 dividend yield of 1.90%. General Dynamics’s dividend payout ratio 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.