Waldron Private Wealth LLC Acquires Shares of 697 General Dynamics Co. (NYSE:GD)

Waldron Private Wealth LLC acquired a new position in General Dynamics Co. (NYSE:GD) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 697 shares of the aerospace company’s stock, valued at approximately $202,000.

Several other institutional investors also recently bought and sold shares of GD. Summit Financial LLC raised its holdings in shares of General Dynamics by 30.1% in the second quarter. Summit Financial LLC now owns 3,587 shares of the aerospace company’s stock valued at $1,041,000 after acquiring an additional 829 shares in the last quarter. Interchange Capital Partners LLC purchased a new stake in shares of General Dynamics in the 2nd quarter worth approximately $220,000. Essex Financial Services Inc. boosted its stake in shares of General Dynamics by 35.6% during the second quarter. Essex Financial Services Inc. now owns 16,272 shares of the aerospace company’s stock valued at $4,721,000 after purchasing an additional 4,270 shares in the last quarter. Shoker Investment Counsel Inc. increased its holdings in General Dynamics by 2.7% during the second quarter. Shoker Investment Counsel Inc. now owns 8,238 shares of the aerospace company’s stock valued at $2,390,000 after buying an additional 214 shares during the period. Finally, Aptus Capital Advisors LLC increased its holdings in shares of General Dynamics by 3.8% in the 2nd quarter. Aptus Capital Advisors LLC now owns 4,211 shares of the aerospace company’s stock valued at $1,222,000 after acquiring an additional 154 shares during the period. 86.14% of the stock is currently owned by hedge funds and other institutional investors.

General Dynamics Trading Up 0.5 %

NYSE GD opened at $299.36 on Monday. The firm’s 50-day moving average is $290.64 and its two-hundred day moving average is $288.19. 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 Co. has a 12 month low of $214.53 and a 12 month high of $302.75. The stock has a market capitalization of $82.26 billion, a P/E ratio of 24.42, a PEG ratio of 1.64 and a beta of 0.60.

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

General Dynamics Dividend Announcement

The firm also recently declared 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. The ex-dividend date of this dividend is Friday, October 11th. This represents a $5.68 annualized dividend and a yield of 1.90%. General Dynamics’s dividend payout ratio is presently 46.33%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on GD shares. Morgan Stanley raised General Dynamics from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $293.00 to $345.00 in a research report on Friday, August 9th. Robert W. Baird restated an “outperform” rating and issued a $345.00 price objective on shares of General Dynamics in a research note on Tuesday, July 2nd. Wells Fargo & Company increased their price target 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. Royal Bank of Canada restated an “outperform” rating and set a $320.00 price objective on shares of General Dynamics in a research note on Thursday, July 25th. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of General Dynamics in a report on Monday, July 29th. Six investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average 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.