Legacy Financial Advisors Inc. Buys 127 Shares of General Dynamics Co. (NYSE:GD)

Legacy Financial Advisors Inc. raised its stake in shares of General Dynamics Co. (NYSE:GD) by 2.2% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 5,815 shares of the aerospace company’s stock after acquiring an additional 127 shares during the period. Legacy Financial Advisors Inc.’s holdings in General Dynamics were worth $1,687,000 as of its most recent SEC filing.

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

General Dynamics Price Performance

Shares of GD stock opened at $306.87 on Friday. 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 capitalization of $84.19 billion, a price-to-earnings ratio of 25.03, a PEG ratio of 1.64 and a beta of 0.61. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.80 and a current ratio of 1.33. The stock’s 50-day simple moving average is $294.79 and its 200-day simple moving average is $290.97.

General Dynamics (NYSE:GD) last issued 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). The business had revenue of $11.98 billion for the quarter, compared to analysts’ expectations 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 quarter in the previous year, the firm posted $2.70 EPS. As a group, equities analysts forecast that General Dynamics Co. will post 14.52 earnings per share for the current fiscal year.

General Dynamics Dividend Announcement

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 1.85%. The ex-dividend date is Friday, October 11th. General Dynamics’s dividend payout ratio (DPR) is presently 46.33%.

Insiders Place Their Bets

In other news, Director Peter A. Wall sold 1,320 shares of the stock in a transaction 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 completion of the transaction, the director now directly owns 3,592 shares in the company, valued at approximately $1,106,515.60. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 1.52% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on GD. Morgan Stanley raised shares of General Dynamics from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $293.00 to $345.00 in a report on Friday, August 9th. Royal Bank of Canada reissued an “outperform” rating and issued a $320.00 target price on shares of General Dynamics in a report on Thursday, July 25th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of General Dynamics in a report on Monday, July 29th. Robert W. Baird reiterated an “outperform” rating and set a $345.00 target price on shares of General Dynamics in a research report on Tuesday, July 2nd. Finally, Barclays increased their target price on General Dynamics from $310.00 to $325.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. Six research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $315.06.

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.