Cobblestone Capital Advisors LLC NY Has $282,000 Position in General Dynamics Co. (NYSE:GD)

Cobblestone Capital Advisors LLC NY cut its position in General Dynamics Co. (NYSE:GD) by 4.8% during the 2nd quarter, HoldingsChannel reports. The firm owned 971 shares of the aerospace company’s stock after selling 49 shares during the quarter. Cobblestone Capital Advisors LLC NY’s holdings in General Dynamics were worth $282,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in GD. Redmont Wealth Advisors LLC bought a new stake in shares of General Dynamics in the first quarter valued at about $25,000. Richardson Financial Services Inc. acquired a new stake in General Dynamics in the 4th quarter valued at approximately $25,000. American Capital Advisory LLC bought a new stake in General Dynamics in the 2nd quarter valued at approximately $29,000. Financial Synergies Wealth Advisors Inc. acquired a new position in General Dynamics during the 1st quarter worth approximately $29,000. Finally, New Covenant Trust Company N.A. bought a new position in shares of General Dynamics during the 1st quarter worth approximately $29,000. 86.14% of the stock is owned by institutional investors.

General Dynamics Stock Down 1.5 %

GD stock opened at $292.78 on Friday. 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. The stock has a market capitalization of $80.33 billion, a price-to-earnings ratio of 23.88, a PEG ratio of 1.64 and a beta of 0.61. The business’s fifty day moving average price is $290.80 and its two-hundred day moving average price is $288.98.

General Dynamics (NYSE:GD) last issued its quarterly earnings data on Wednesday, July 24th. The aerospace company reported $3.26 earnings per share 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 business had revenue of $11.98 billion during the quarter, compared to analyst estimates of $11.46 billion. During the same quarter last year, the firm earned $2.70 EPS. General Dynamics’s revenue for the quarter was up 18.0% compared to the same quarter last year. On average, equities analysts anticipate that General Dynamics Co. will post 14.52 earnings per share for the current year.

General Dynamics Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, October 11th will be given 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 of this dividend is Friday, October 11th. General Dynamics’s dividend payout ratio is currently 46.33%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on GD. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of General Dynamics in a research note on Monday, July 29th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $320.00 target price on shares of General Dynamics in a research report on Thursday, July 25th. Wells Fargo & Company increased their price target on General Dynamics from $330.00 to $334.00 and gave the company an “overweight” rating in a research report 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 report on Tuesday, July 30th. Finally, Robert W. Baird reissued an “outperform” rating and issued a $345.00 price objective on shares of General Dynamics in a report on Tuesday, July 2nd. Six analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $315.06.

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.