Resonant Capital Advisors LLC Decreases Stock Holdings in General Dynamics Co. (NYSE:GD)

Resonant Capital Advisors LLC lessened its holdings in General Dynamics Co. (NYSE:GD) by 3.5% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,291 shares of the aerospace company’s stock after selling 47 shares during the period. Resonant Capital Advisors LLC’s holdings in General Dynamics were worth $375,000 at the end of the most recent quarter.

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

Analysts Set New Price Targets

GD has been the subject of a number of research analyst reports. Robert W. Baird reissued an “outperform” rating and set a $345.00 price target on shares of General Dynamics in a research note on Tuesday, July 2nd. Morgan Stanley raised shares of General Dynamics from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $293.00 to $345.00 in a research note on Friday, August 9th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of General Dynamics in a research note on Monday, July 29th. Sanford C. Bernstein boosted their price objective on shares of 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, Barclays raised 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. Six research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $315.06.

General Dynamics Stock Performance

Shares of General Dynamics stock opened at $299.36 on Tuesday. The company has a market capitalization 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 company has a 50-day simple moving average of $290.66 and a two-hundred day simple moving average of $288.39. General Dynamics Co. has a one year low of $214.53 and a one year high of $302.75. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.80 and a current ratio of 1.33.

General Dynamics (NYSE:GD) last posted its quarterly earnings data on Wednesday, July 24th. The aerospace company reported $3.26 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 firm earned $2.70 EPS. The company’s revenue was up 18.0% compared to the same quarter last year. Research analysts expect that General Dynamics Co. will post 14.52 EPS for the current fiscal year.

General Dynamics Announces Dividend

The firm also recently announced 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 annualized dividend and a yield of 1.90%. The ex-dividend date is Friday, October 11th. General Dynamics’s dividend payout ratio is currently 46.33%.

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.