NewEdge Advisors LLC Acquires 6,205 Shares of General Dynamics Co. (NYSE:GD)

NewEdge Advisors LLC raised its holdings in shares of General Dynamics Co. (NYSE:GD) by 19.5% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 38,038 shares of the aerospace company’s stock after acquiring an additional 6,205 shares during the period. NewEdge Advisors LLC’s holdings in General Dynamics were worth $11,036,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in GD. Richardson Financial Services Inc. purchased a new stake in General Dynamics during the 4th quarter valued at $25,000. Redmont Wealth Advisors LLC purchased a new stake in General Dynamics during the 1st quarter valued at $25,000. Financial Synergies Wealth Advisors Inc. purchased a new stake in General Dynamics during the 1st quarter valued at $29,000. New Covenant Trust Company N.A. purchased a new stake in General Dynamics during the 1st quarter valued at $29,000. Finally, American Capital Advisory LLC purchased a new stake in General Dynamics during the 2nd quarter valued at $29,000. 86.14% of the stock is currently owned by hedge funds and other institutional investors.

General Dynamics Stock Up 0.7 %

Shares of NYSE GD opened at $302.20 on Tuesday. The firm’s 50-day moving average price is $296.30 and its 200-day moving average price is $292.43. The company has a current ratio of 1.33, a quick ratio of 0.80 and a debt-to-equity ratio of 0.33. The stock has a market capitalization of $82.91 billion, a price-to-earnings ratio of 24.65, a P/E/G ratio of 1.68 and a beta of 0.61. General Dynamics Co. has a 12-month low of $214.53 and a 12-month high of $309.97.

General Dynamics (NYSE:GD) last posted its quarterly earnings data on Wednesday, July 24th. The aerospace company reported $3.26 earnings per share for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $11.46 billion. During the same period last year, the company 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, equities research analysts anticipate that General Dynamics Co. will post 14.52 EPS for the current fiscal year.

General Dynamics Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, October 11th will be given a $1.42 dividend. This represents a $5.68 dividend on an annualized basis and a yield of 1.88%. The ex-dividend date is Friday, October 11th. General Dynamics’s dividend payout ratio (DPR) is currently 46.33%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. BTIG Research assumed coverage on shares of General Dynamics in a research report on Wednesday, June 26th. They set a “buy” rating and a $345.00 price objective for the company. Robert W. Baird reissued an “outperform” rating and set a $345.00 price objective on shares of General Dynamics in a research report on Tuesday, July 2nd. Barclays boosted their price objective on shares of General Dynamics from $310.00 to $325.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. Morgan Stanley raised shares of General Dynamics from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $293.00 to $345.00 in a research report on Friday, August 9th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of General Dynamics in a report on Monday, July 29th. Five investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $318.41.

Insider Buying and Selling

In related news, Director Peter A. Wall sold 1,320 shares of the stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $308.05, for a total value of $406,626.00. Following the sale, the director now directly owns 3,592 shares of the company’s stock, valued at approximately $1,106,515.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.52% of the stock is currently owned by corporate insiders.

General Dynamics Company 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.