General Dynamics Co. (NYSE:GD) Shares Bought by Graypoint LLC

Graypoint LLC lifted its stake in shares of General Dynamics Co. (NYSE:GD) by 15.3% during the second quarter, Holdings Channel.com reports. The fund owned 2,386 shares of the aerospace company’s stock after purchasing an additional 317 shares during the period. Graypoint LLC’s holdings in General Dynamics were worth $692,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in GD. MeadowBrook Investment Advisors LLC acquired a new position in shares of 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 own 86.14% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on GD shares. Barclays boosted their target price on shares of General Dynamics from $310.00 to $325.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. Wells Fargo & Company upped their price target on General Dynamics from $330.00 to $334.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Robert W. Baird reissued an “outperform” rating and set a $345.00 price objective on shares of General Dynamics in a research note on Tuesday, July 2nd. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of General Dynamics in a research report on Monday, July 29th. Finally, 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. Six investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $315.06.

General Dynamics Stock Up 0.5 %

General Dynamics stock traded up $1.53 during trading hours on Friday, hitting $299.36. The company had a trading volume of 1,033,038 shares, compared to its average volume of 947,283. The firm’s fifty day moving average is $290.64 and its 200-day moving average is $288.05. The firm has a market capitalization of $82.26 billion, a P/E ratio of 24.42, a price-to-earnings-growth ratio of 1.64 and a beta of 0.60. General Dynamics Co. has a fifty-two week low of $214.53 and a fifty-two week 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.

General Dynamics (NYSE:GD) last announced 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). The firm had revenue of $11.98 billion for the quarter, compared to analysts’ expectations of $11.46 billion. General Dynamics had a return on equity of 16.74% and a net margin of 7.89%. General Dynamics’s revenue was up 18.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.70 earnings per share. On average, research analysts forecast that General Dynamics Co. will post 14.52 earnings per share for the current year.

General Dynamics Announces Dividend

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 given a dividend of $1.42 per share. This represents a $5.68 annualized dividend and a yield of 1.90%. The ex-dividend date of this dividend is Friday, October 11th. General Dynamics’s payout ratio is 46.33%.

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.