King Luther Capital Management Corp Purchases 110 Shares of General Dynamics Co. (NYSE:GD)

King Luther Capital Management Corp lifted its position in General Dynamics Co. (NYSE:GD) by 0.5% in the 2nd quarter, Holdings Channel.com reports. The fund owned 22,798 shares of the aerospace company’s stock after acquiring an additional 110 shares during the period. King Luther Capital Management Corp’s holdings in General Dynamics were worth $6,615,000 at the end of the most recent quarter.

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

Insider Activity at General Dynamics

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

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on GD shares. Morgan Stanley raised shares of General Dynamics from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $293.00 to $345.00 in a research note on Friday, August 9th. Wells Fargo & Company upped their price objective on General Dynamics from $330.00 to $334.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $320.00 price objective on shares of General Dynamics in a research 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 report on Tuesday, July 30th. Finally, BTIG Research initiated coverage on shares of General Dynamics in a report on Wednesday, June 26th. They issued a “buy” rating and a $345.00 price target on the stock. Six research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $315.06.

General Dynamics Trading Up 0.7 %

Shares of General Dynamics stock opened at $306.87 on Friday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.80 and a current ratio of 1.33. The company has a market capitalization of $84.19 billion, a P/E ratio of 25.03, a PEG ratio of 1.64 and a beta of 0.61. General Dynamics Co. has a 1 year low of $214.53 and a 1 year high of $309.97. The company’s fifty day moving average is $294.79 and its two-hundred day moving average is $290.97.

General Dynamics (NYSE:GD) last issued its quarterly earnings results 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). The company had revenue of $11.98 billion for 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%. General Dynamics’s revenue for the quarter was up 18.0% compared to the same quarter last year. During the same period in the prior year, the business earned $2.70 earnings per share. Analysts forecast that General Dynamics Co. will post 14.52 earnings per share for the current year.

General Dynamics Dividend Announcement

The business 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 dividend of $1.42 per share. This represents a $5.68 annualized dividend and a yield of 1.85%. The ex-dividend date is Friday, October 11th. General Dynamics’s payout ratio is 46.33%.

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.