General Dynamics Co. (NYSE:GD) Shares Bought by Ritholtz Wealth Management

Ritholtz Wealth Management increased its stake in shares of General Dynamics Co. (NYSE:GD) by 1.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 10,529 shares of the aerospace company’s stock after purchasing an additional 139 shares during the quarter. Ritholtz Wealth Management’s holdings in General Dynamics were worth $3,055,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. MeadowBrook Investment Advisors LLC acquired a new stake in shares of General Dynamics in the 4th quarter worth $25,000. Richardson Financial Services Inc. acquired a new stake in shares of General Dynamics in the 4th quarter valued at approximately $25,000. Redmont Wealth Advisors LLC acquired a new position in General Dynamics during the first quarter worth $25,000. Financial Synergies Wealth Advisors Inc. purchased a new position in General Dynamics in the first quarter worth $29,000. Finally, New Covenant Trust Company N.A. purchased a new stake in shares of General Dynamics during the 1st quarter worth $29,000. 86.14% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently commented on GD shares. Sanford C. Bernstein boosted their price objective on shares of General Dynamics from $290.00 to $302.00 and gave the stock a “market perform” rating in a report on Thursday, May 23rd. Royal Bank of Canada reissued an “outperform” rating and set a $320.00 price target on shares of General Dynamics in a research note on Thursday, July 25th. Morgan Stanley raised General Dynamics from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $293.00 to $345.00 in a report on Friday, August 9th. Barclays upped their target price on General Dynamics from $310.00 to $325.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of General Dynamics in a research note on Monday, July 29th. Six research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, General Dynamics presently has a consensus rating of “Moderate Buy” and a consensus price target of $315.06.

General Dynamics Trading Up 0.5 %

NYSE:GD opened at $299.36 on Monday. The company has a market cap of $82.26 billion, a PE ratio of 24.42, a P/E/G ratio of 1.64 and a beta of 0.60. The business’s 50 day moving average is $290.64 and its two-hundred day moving average is $288.19. 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 Co. has a 52 week low of $214.53 and a 52 week high of $302.75.

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). General Dynamics had a return on equity of 16.74% and a net margin of 7.89%. The firm had revenue of $11.98 billion for the quarter, compared to the consensus estimate of $11.46 billion. During the same quarter last year, the business earned $2.70 earnings per share. The business’s revenue for the quarter was up 18.0% compared to the same quarter last year. On average, analysts predict that General Dynamics Co. will post 14.52 EPS for the current year.

General Dynamics Dividend Announcement

The company 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 $1.42 dividend. 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 dividend payout ratio (DPR) is 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.