Leelyn Smith LLC Sells 149 Shares of General Dynamics Co. (NYSE:GD)

Leelyn Smith LLC decreased its position in shares of General Dynamics Co. (NYSE:GD) by 0.9% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 15,885 shares of the aerospace company’s stock after selling 149 shares during the quarter. General Dynamics makes up 0.9% of Leelyn Smith LLC’s investment portfolio, making the stock its 27th largest position. Leelyn Smith LLC’s holdings in General Dynamics were worth $4,609,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Richardson Financial Services Inc. purchased a new stake in shares of General Dynamics during the fourth quarter worth $25,000. Redmont Wealth Advisors LLC bought a new stake in shares of General Dynamics during the first quarter valued at about $25,000. Financial Synergies Wealth Advisors Inc. purchased a new stake in shares of General Dynamics in the first quarter worth about $29,000. New Covenant Trust Company N.A. bought a new position in shares of General Dynamics in the first quarter valued at approximately $29,000. Finally, American Capital Advisory LLC bought a new stake in General Dynamics during the 2nd quarter worth approximately $29,000. Hedge funds and other institutional investors own 86.14% of the company’s stock.

Wall Street Analyst Weigh In

GD has been the subject of several analyst reports. BTIG Research initiated coverage on shares of General Dynamics in a report on Wednesday, June 26th. They issued a “buy” rating and a $345.00 price target for the company. Morgan Stanley upgraded General Dynamics from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $293.00 to $345.00 in a research note on Friday, August 9th. Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of General Dynamics in a research report on Monday, July 29th. Robert W. Baird reiterated an “outperform” rating and set a $345.00 target price on shares of General Dynamics in a research report on Tuesday, July 2nd. Finally, Royal Bank of Canada restated an “outperform” rating and set a $320.00 price objective 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 given a buy rating to the company’s stock. According to MarketBeat, General Dynamics presently has a consensus rating of “Moderate Buy” and an average target price of $315.06.

General Dynamics Stock Up 1.4 %

GD stock opened at $304.83 on Friday. General Dynamics Co. has a twelve month low of $214.53 and a twelve month high of $306.51. The firm has a market cap of $83.63 billion, a PE ratio of 24.86, a price-to-earnings-growth ratio of 1.64 and a beta of 0.61. The business has a 50 day moving average of $292.48 and a 200 day moving average of $289.87. The company has a quick ratio of 0.80, a current ratio of 1.33 and a debt-to-equity ratio of 0.33.

General Dynamics (NYSE:GD) last announced its quarterly earnings results on Wednesday, July 24th. The aerospace company reported $3.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.30 by ($0.04). The firm had revenue of $11.98 billion during the quarter, compared to the consensus estimate of $11.46 billion. General Dynamics had a return on equity of 16.74% and a net margin of 7.89%. The business’s revenue for the quarter was up 18.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.70 EPS. On average, research analysts forecast that General Dynamics Co. will post 14.52 EPS for the current fiscal year.

General Dynamics Dividend Announcement

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 paid a dividend of $1.42 per share. The ex-dividend date is Friday, October 11th. This represents a $5.68 annualized dividend and a yield of 1.86%. General Dynamics’s dividend 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.