AE Wealth Management LLC Raises Stock Position in General Dynamics Co. (NYSE:GD)

AE Wealth Management LLC lifted its position in shares of General Dynamics Co. (NYSE:GD) by 1.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,225 shares of the aerospace company’s stock after acquiring an additional 94 shares during the quarter. AE Wealth Management LLC’s holdings in General Dynamics were worth $1,516,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Richardson Financial Services Inc. purchased a new stake in General Dynamics during the fourth quarter worth $25,000. Redmont Wealth Advisors LLC purchased a new position in shares of General Dynamics in the first quarter valued at $25,000. Financial Synergies Wealth Advisors Inc. acquired a new position in shares of General Dynamics during the 1st quarter worth $29,000. New Covenant Trust Company N.A. purchased a new stake in shares of General Dynamics in the 1st quarter worth about $29,000. Finally, American Capital Advisory LLC acquired a new stake in General Dynamics in the 2nd quarter valued at about $29,000. Institutional investors and hedge funds own 86.14% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on GD shares. BTIG Research started 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. Barclays upped their target price on General Dynamics from $310.00 to $325.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. Robert W. Baird reiterated an “outperform” rating and set a $345.00 target price on shares of General Dynamics in a report on Tuesday, July 2nd. Royal Bank of Canada reissued an “outperform” rating and issued a $320.00 price target on shares of General Dynamics in a report on Thursday, July 25th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of General Dynamics in a research note on Monday, July 29th. Six analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $315.06.

Insider Transactions at General Dynamics

In related news, Director Peter A. Wall sold 1,320 shares of General Dynamics stock in a transaction on Monday, September 16th. The shares were sold at an average price of $308.05, for a total transaction of $406,626.00. Following 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 document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.52% of the company’s stock.

General Dynamics Stock Up 0.4 %

Shares of NYSE 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 stock has a market capitalization of $84.53 billion, a PE ratio of 25.13, a P/E/G ratio of 1.64 and a beta of 0.61. The firm has a fifty day moving average of $295.24 and a 200-day moving average of $291.46. General Dynamics Co. has a 52-week low of $214.53 and a 52-week high of $309.97.

General Dynamics (NYSE:GD) last announced 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 analyst estimates of $11.46 billion. General Dynamics had a return on equity of 16.74% and a net margin of 7.89%. The business’s revenue was up 18.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.70 earnings per share. On average, analysts anticipate that General Dynamics Co. will post 14.52 EPS for the current year.

General Dynamics Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, October 11th will be paid a dividend of $1.42 per share. The ex-dividend date is Friday, October 11th. This represents a $5.68 annualized dividend and a yield of 1.84%. General Dynamics’s dividend payout ratio is currently 46.33%.

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.