Wealth Alliance Raises Holdings in General Dynamics Co. (NYSE:GD)

Wealth Alliance increased its position in shares of General Dynamics Co. (NYSE:GD) by 17.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,206 shares of the aerospace company’s stock after buying an additional 179 shares during the period. Wealth Alliance’s holdings in General Dynamics were worth $350,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Gladstone Capital Management LLP bought a new stake in General Dynamics during the 4th quarter valued at $3,869,000. SWP Financial LLC bought a new stake in General Dynamics during the fourth quarter valued at about $227,000. Sanibel Captiva Trust Company Inc. purchased a new position in General Dynamics in the fourth quarter valued at about $28,107,000. Evercore Wealth Management LLC raised its holdings in General Dynamics by 1.5% in the fourth quarter. Evercore Wealth Management LLC now owns 5,355 shares of the aerospace company’s stock worth $1,391,000 after purchasing an additional 78 shares in the last quarter. Finally, TD Asset Management Inc lifted its position in shares of General Dynamics by 7.2% during the fourth quarter. TD Asset Management Inc now owns 80,280 shares of the aerospace company’s stock valued at $20,846,000 after buying an additional 5,405 shares during the last quarter. 86.14% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Morgan Stanley raised General Dynamics from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $293.00 to $345.00 in a report on Friday, August 9th. Royal Bank of Canada restated an “outperform” rating and set a $320.00 price target on shares of General Dynamics in a research note on Thursday, July 25th. Barclays raised their price target 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. 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 report on Thursday, May 23rd. Finally, Wells Fargo & Company raised their target price on General Dynamics from $330.00 to $334.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. Six equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $315.06.

General Dynamics Trading Up 0.8 %

Shares of NYSE:GD opened at $304.77 on Friday. The business’s 50 day moving average price is $294.33 and its 200-day moving average price is $290.74. General Dynamics Co. has a 1 year low of $214.53 and a 1 year high of $309.97. The firm has a market capitalization of $83.62 billion, a price-to-earnings ratio of 24.86, a price-to-earnings-growth ratio of 1.64 and a beta of 0.61. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.33 and a quick ratio of 0.80.

General Dynamics (NYSE:GD) last posted its quarterly earnings data 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). General Dynamics had a net margin of 7.89% and a return on equity of 16.74%. The company had revenue of $11.98 billion for the quarter, compared to analysts’ expectations of $11.46 billion. During the same period in the previous year, the business earned $2.70 earnings per share. The business’s revenue for the quarter was up 18.0% on a year-over-year basis. On average, equities research analysts forecast that General Dynamics Co. will post 14.52 earnings per share for the current fiscal year.

General Dynamics Dividend Announcement

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 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 yield of 1.86%. General Dynamics’s payout ratio is 46.33%.

Insiders Place Their Bets

In related news, Director Peter A. Wall sold 1,320 shares of General Dynamics stock in a transaction that occurred on Monday, September 16th. The stock was 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 $1,106,515.60. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 1.52% of the company’s stock.

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.