LPL Financial LLC Acquires 22,906 Shares of General Dynamics Co. (NYSE:GD)

LPL Financial LLC grew its holdings in General Dynamics Co. (NYSE:GD) by 5.7% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 421,733 shares of the aerospace company’s stock after acquiring an additional 22,906 shares during the period. LPL Financial LLC owned 0.15% of General Dynamics worth $122,362,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Modera Wealth Management LLC boosted 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 purchasing an additional 35 shares in the last quarter. Legend Financial Advisors Inc. boosted its stake in shares of General Dynamics by 46.8% during the 1st quarter. Legend Financial Advisors Inc. now owns 113 shares of the aerospace company’s stock worth $32,000 after acquiring an additional 36 shares in the last quarter. Diversified Trust Co increased its holdings in shares of General Dynamics by 2.5% during the 1st quarter. Diversified Trust Co now owns 1,503 shares of the aerospace company’s stock valued at $425,000 after acquiring an additional 36 shares during the last quarter. Fulton Bank N.A. raised its stake in shares of General Dynamics by 1.1% in the 1st quarter. Fulton Bank N.A. now owns 3,299 shares of the aerospace company’s stock valued at $932,000 after acquiring an additional 37 shares in the last quarter. Finally, Copperwynd Financial LLC lifted its holdings in General Dynamics by 3.7% in the 4th quarter. Copperwynd Financial LLC now owns 1,056 shares of the aerospace company’s stock worth $274,000 after purchasing an additional 38 shares during the last quarter. Institutional investors and hedge funds own 86.14% of the company’s stock.

General Dynamics Trading Up 0.4 %

Shares of General Dynamics stock opened at $300.72 on Friday. The company’s fifty day moving average price is $292.01 and its two-hundred day moving average price is $289.65. The firm has a market capitalization of $82.63 billion, a PE ratio of 24.53, a price-to-earnings-growth ratio of 1.60 and a beta of 0.61. General Dynamics Co. has a 52-week low of $214.53 and a 52-week high of $306.51. 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 posted its quarterly 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). The business had revenue of $11.98 billion during the quarter, compared to analyst estimates 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 period last year, the company earned $2.70 EPS. On average, analysts expect that General Dynamics Co. will post 14.52 EPS for the current year.

General Dynamics Dividend Announcement

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 paid a $1.42 dividend. This represents a $5.68 annualized dividend and a yield of 1.89%. The ex-dividend date of this dividend is Friday, October 11th. General Dynamics’s dividend payout ratio is 46.33%.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of General Dynamics in a report on Monday, July 29th. Wells Fargo & Company lifted their target price on shares of General Dynamics from $330.00 to $334.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. Barclays boosted their target price on shares of General Dynamics from $310.00 to $325.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. Sanford C. Bernstein raised their price target 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. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $320.00 price objective on shares of General Dynamics in a research report on Thursday, July 25th. Six analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $315.06.

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.