New Wave Wealth Advisors LLC Makes New Investment in General Dynamics Co. (NYSE:GD)

New Wave Wealth Advisors LLC acquired a new stake in shares of General Dynamics Co. (NYSE:GD) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 935 shares of the aerospace company’s stock, valued at approximately $271,000.

Other hedge funds have also made changes to their positions in the company. Redmont Wealth Advisors LLC bought a new position in General Dynamics in the 1st quarter worth $25,000. Richardson Financial Services Inc. acquired a new stake in shares of General Dynamics in the fourth quarter valued at about $25,000. American Capital Advisory LLC bought a new position in shares of General Dynamics in the second quarter worth about $29,000. Financial Synergies Wealth Advisors Inc. acquired a new position in shares of General Dynamics during the 1st quarter worth about $29,000. Finally, New Covenant Trust Company N.A. bought a new stake in General Dynamics during the 1st quarter valued at approximately $29,000. Institutional investors and hedge funds own 86.14% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on GD shares. 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 lowered shares of General Dynamics from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $334.00 to $317.00 in a research report on Tuesday. Barclays lifted their target price on General Dynamics from $310.00 to $325.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. Morgan Stanley raised General Dynamics from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $293.00 to $345.00 in a report on Friday, August 9th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of General Dynamics in a research report on Monday, July 29th. Six equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, General Dynamics presently has a consensus rating of “Moderate Buy” and a consensus target price of $317.41.

Insider Transactions at General Dynamics

In related news, Director Peter A. Wall sold 1,320 shares of the firm’s stock in a transaction that occurred on 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 sale, the director now owns 3,592 shares of the company’s stock, valued at $1,106,515.60. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.52% of the stock is owned by company insiders.

General Dynamics Stock Performance

NYSE GD opened at $305.32 on Wednesday. General Dynamics Co. has a 1-year low of $214.53 and a 1-year high of $309.97. The company has a 50 day moving average of $296.51 and a 200-day moving average of $292.64. The company has a current ratio of 1.33, a quick ratio of 0.80 and a debt-to-equity ratio of 0.33. The firm has a market cap of $83.77 billion, a price-to-earnings ratio of 24.90, a PEG ratio of 1.68 and a beta of 0.61.

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

General Dynamics Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, October 11th will be paid a $1.42 dividend. This represents a $5.68 dividend on an annualized basis and a dividend yield of 1.86%. The ex-dividend date is Friday, October 11th. General Dynamics’s dividend payout ratio is presently 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.