Opes Wealth Management LLC Purchases New Holdings in General Dynamics Co. (NYSE:GD)

Opes Wealth Management LLC purchased a new stake in shares of General Dynamics Co. (NYSE:GD) in the second quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 705 shares of the aerospace company’s stock, valued at approximately $205,000.

A number of other large investors also recently bought and sold shares of GD. Modera Wealth Management LLC raised its holdings in General Dynamics by 0.4% in the second quarter. Modera Wealth Management LLC now owns 8,120 shares of the aerospace company’s stock worth $2,356,000 after buying an additional 35 shares during the last quarter. Legend Financial Advisors Inc. raised its holdings in General Dynamics by 46.8% in the first quarter. Legend Financial Advisors Inc. now owns 113 shares of the aerospace company’s stock worth $32,000 after buying an additional 36 shares during the last quarter. Diversified Trust Co raised its holdings in General Dynamics by 2.5% in the first quarter. Diversified Trust Co now owns 1,503 shares of the aerospace company’s stock worth $425,000 after buying an additional 36 shares during the last quarter. Fulton Bank N.A. raised its holdings in General Dynamics by 1.1% in the first quarter. Fulton Bank N.A. now owns 3,299 shares of the aerospace company’s stock worth $932,000 after buying an additional 37 shares during the last quarter. Finally, Copperwynd Financial LLC raised its holdings in General Dynamics by 3.7% in the fourth quarter. Copperwynd Financial LLC now owns 1,056 shares of the aerospace company’s stock worth $274,000 after buying an additional 38 shares during the last quarter. 86.14% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on GD. Barclays lifted 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. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of General Dynamics in a research note on Monday, July 29th. BTIG Research initiated coverage on shares of General Dynamics in a research note on Wednesday, June 26th. They issued a “buy” rating and a $345.00 price target for the company. Wells Fargo & Company lifted their price target on shares of General Dynamics from $330.00 to $334.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $320.00 price target on shares of General Dynamics in a research note on Thursday, July 25th. Six analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $315.06.

General Dynamics Price Performance

GD stock opened at $292.96 on Friday. General Dynamics Co. has a one year low of $214.53 and a one year high of $302.75. The company’s fifty day moving average price is $290.80 and its 200-day moving average price is $288.84. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.80 and a current ratio of 1.33. The company has a market capitalization of $80.38 billion, a PE ratio of 23.90, a price-to-earnings-growth ratio of 1.64 and a beta of 0.61.

General Dynamics (NYSE:GD) last released 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 during the quarter, compared to analysts’ expectations of $11.46 billion. During the same period last year, the firm posted $2.70 EPS. General Dynamics’s quarterly revenue was up 18.0% compared to the same quarter last year. On average, equities analysts anticipate that General Dynamics Co. will post 14.52 EPS for the current fiscal year.

General Dynamics Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, October 11th will be paid a dividend of $1.42 per share. This represents a $5.68 dividend on an annualized basis and a yield of 1.94%. The ex-dividend date is Friday, October 11th. General Dynamics’s payout ratio is 46.33%.

General Dynamics Company 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.