Mount Yale Investment Advisors LLC Lowers Stake in General Dynamics Co. (NYSE:GD)

Mount Yale Investment Advisors LLC reduced its position in General Dynamics Co. (NYSE:GD) by 12.4% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 2,856 shares of the aerospace company’s stock after selling 403 shares during the period. Mount Yale Investment Advisors LLC’s holdings in General Dynamics were worth $829,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Frank Rimerman Advisors LLC increased its position in General Dynamics by 3,139.0% during the second quarter. Frank Rimerman Advisors LLC now owns 1,911 shares of the aerospace company’s stock worth $554,000 after purchasing an additional 1,852 shares during the last quarter. Kowal Investment Group LLC lifted its stake in shares of General Dynamics by 12.0% in the 2nd quarter. Kowal Investment Group LLC now owns 3,049 shares of the aerospace company’s stock valued at $885,000 after purchasing an additional 327 shares in the last quarter. Alaethes Wealth LLC grew its holdings in shares of General Dynamics by 2.0% during the 2nd quarter. Alaethes Wealth LLC now owns 5,488 shares of the aerospace company’s stock worth $1,592,000 after purchasing an additional 107 shares during the period. Legacy Financial Advisors Inc. increased its position in General Dynamics by 2.2% during the 2nd quarter. Legacy Financial Advisors Inc. now owns 5,815 shares of the aerospace company’s stock worth $1,687,000 after purchasing an additional 127 shares in the last quarter. Finally, Westwood Holdings Group Inc. raised its holdings in General Dynamics by 174.8% in the second quarter. Westwood Holdings Group Inc. now owns 384,151 shares of the aerospace company’s stock valued at $111,458,000 after buying an additional 244,373 shares during the period. 86.14% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently commented on GD shares. Wells Fargo & Company raised their target price on shares of General Dynamics from $330.00 to $334.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. Robert W. Baird restated an “outperform” rating and set a $345.00 price objective on shares of General Dynamics in a research note on Tuesday, July 2nd. Royal Bank of Canada reiterated an “outperform” rating and issued a $320.00 target price on shares of General Dynamics in a research note on Thursday, July 25th. Morgan Stanley upgraded shares of General Dynamics from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $293.00 to $345.00 in a research note on Friday, August 9th. Finally, BTIG Research assumed coverage on shares of General Dynamics in a research note on Wednesday, June 26th. They issued a “buy” rating and a $345.00 target price for the company. Six analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $315.06.

General Dynamics Price Performance

GD opened at $308.09 on Tuesday. The company has a quick ratio of 0.80, a current ratio of 1.33 and a debt-to-equity ratio of 0.33. The company’s 50-day moving average price is $295.24 and its 200 day moving average price is $291.46. General Dynamics Co. has a fifty-two week low of $214.53 and a fifty-two week high of $309.97. The firm has a market cap of $84.53 billion, a price-to-earnings ratio of 25.13, a price-to-earnings-growth ratio of 1.64 and a beta of 0.61.

General Dynamics (NYSE:GD) last announced 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 company had revenue of $11.98 billion during the quarter, compared to the consensus estimate of $11.46 billion. General Dynamics had a return on equity of 16.74% and a net margin of 7.89%. The company’s revenue for the quarter was up 18.0% on a year-over-year basis. During the same period last year, the business posted $2.70 EPS. As a group, sell-side analysts expect that General Dynamics Co. will post 14.52 earnings per share for the current year.

General Dynamics Announces Dividend

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 issued a $1.42 dividend. The ex-dividend date of this dividend is Friday, October 11th. This represents a $5.68 dividend on an annualized basis and a dividend yield of 1.84%. General Dynamics’s dividend payout ratio (DPR) is presently 46.33%.

Insider Activity at General Dynamics

In other General Dynamics news, Director Peter A. Wall sold 1,320 shares of the company’s 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 completion of the transaction, the director now owns 3,592 shares in the company, valued at approximately $1,106,515.60. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.52% of the stock is currently owned by 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.