General Dynamics Co. (NYSE:GD) Shares Acquired by Alaethes Wealth LLC

Alaethes Wealth LLC lifted its position in General Dynamics Co. (NYSE:GD) by 2.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,488 shares of the aerospace company’s stock after acquiring an additional 107 shares during the period. Alaethes Wealth LLC’s holdings in General Dynamics were worth $1,592,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in GD. Richardson Financial Services Inc. acquired a new stake in shares of General Dynamics during the 4th quarter worth approximately $25,000. Redmont Wealth Advisors LLC acquired a new stake in shares of General Dynamics during the 1st quarter worth about $25,000. Financial Synergies Wealth Advisors Inc. acquired a new stake in shares of General Dynamics during the first quarter worth about $29,000. New Covenant Trust Company N.A. acquired a new position in shares of General Dynamics during the first quarter worth about $29,000. Finally, American Capital Advisory LLC purchased a new stake in shares of General Dynamics during the second quarter worth approximately $29,000. 86.14% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts recently issued reports on GD shares. Wells Fargo & Company lifted their price target on shares of General Dynamics from $330.00 to $334.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. Morgan Stanley raised General Dynamics from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $293.00 to $345.00 in a report on Friday, August 9th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of General Dynamics in a research report on Monday, July 29th. Robert W. Baird restated an “outperform” rating and set a $345.00 target price on shares of General Dynamics in a research note on Tuesday, July 2nd. Finally, Barclays upped their price target on General Dynamics from $310.00 to $325.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. Six research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $315.06.

Insider Buying and Selling

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 directly owns 3,592 shares of the company’s stock, valued at approximately $1,106,515.60. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 1.52% of the stock is currently owned by corporate insiders.

General Dynamics Price Performance

General Dynamics stock opened at $306.87 on Friday. The firm’s 50-day moving average is $294.79 and its two-hundred day moving average is $290.97. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.33 and a quick ratio of 0.80. The stock has a market capitalization of $84.19 billion, a P/E ratio of 25.03, a P/E/G ratio of 1.64 and a beta of 0.61. General Dynamics Co. has a 12-month low of $214.53 and a 12-month high of $309.97.

General Dynamics (NYSE:GD) last released its 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 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 was up 18.0% on a year-over-year basis. During the same period in the prior year, the business posted $2.70 earnings per share. Equities analysts predict that General Dynamics Co. will post 14.52 earnings per share for the current year.

General Dynamics Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, October 11th will be issued a dividend of $1.42 per share. The ex-dividend date of this dividend is Friday, October 11th. This represents a $5.68 annualized dividend and a dividend yield of 1.85%. General Dynamics’s payout ratio is currently 46.33%.

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.