HBK Sorce Advisory LLC Sells 40 Shares of General Dynamics Co. (NYSE:GD)

HBK Sorce Advisory LLC lessened its position in General Dynamics Co. (NYSE:GD) by 0.5% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 7,624 shares of the aerospace company’s stock after selling 40 shares during the quarter. HBK Sorce Advisory LLC’s holdings in General Dynamics were worth $2,212,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Gladstone Capital Management LLP purchased a new position in shares of General Dynamics during the fourth quarter valued at approximately $3,869,000. SWP Financial LLC bought a new stake in General Dynamics in the fourth quarter worth $227,000. Sanibel Captiva Trust Company Inc. purchased a new stake in shares of General Dynamics in the fourth quarter worth $28,107,000. Evercore Wealth Management LLC increased its holdings in shares of General Dynamics by 1.5% during the fourth quarter. Evercore Wealth Management LLC now owns 5,355 shares of the aerospace company’s stock valued at $1,391,000 after acquiring an additional 78 shares in the last quarter. Finally, TD Asset Management Inc raised its position in shares of General Dynamics by 7.2% in the 4th quarter. TD Asset Management Inc now owns 80,280 shares of the aerospace company’s stock worth $20,846,000 after purchasing an additional 5,405 shares during the last quarter. 86.14% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on GD shares. Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of General Dynamics in a research note on Monday, July 29th. Morgan Stanley raised General Dynamics from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $293.00 to $345.00 in a research report on Friday, August 9th. Royal Bank of Canada reiterated an “outperform” rating and set a $320.00 target price on shares of General Dynamics in a research note on Thursday, July 25th. Barclays boosted 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. Finally, Sanford C. Bernstein increased their price objective on 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 research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $315.06.

General Dynamics Stock Performance

GD opened at $300.72 on Friday. The firm has a market cap of $82.63 billion, a P/E ratio of 24.53, a PEG ratio of 1.64 and a beta of 0.61. General Dynamics Co. has a 1-year low of $214.53 and a 1-year high of $306.51. The company has a 50 day simple moving average of $292.01 and a two-hundred day simple moving average of $289.65. 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 issued its earnings results 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 net margin of 7.89% and a return on equity of 16.74%. The business had revenue of $11.98 billion for the quarter, compared to the consensus estimate of $11.46 billion. During the same period last year, the business posted $2.70 EPS. The firm’s revenue for the quarter was up 18.0% compared to the same quarter last year. Equities analysts forecast that General Dynamics Co. will post 14.52 earnings per share for the current fiscal year.

General Dynamics Dividend Announcement

The company 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. The ex-dividend date of this dividend is Friday, October 11th. This represents a $5.68 annualized dividend and a dividend yield of 1.89%. General Dynamics’s dividend payout ratio (DPR) 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.