EverSource Wealth Advisors LLC Acquires 1,048 Shares of General Dynamics Co. (NYSE:GD)

EverSource Wealth Advisors LLC increased its holdings in shares of General Dynamics Co. (NYSE:GD) by 79.9% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,359 shares of the aerospace company’s stock after buying an additional 1,048 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in General Dynamics were worth $705,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Gilbert & Cook Inc. lifted its holdings in shares of General Dynamics by 5.1% in the fourth quarter. Gilbert & Cook Inc. now owns 2,509 shares of the aerospace company’s stock worth $652,000 after acquiring an additional 122 shares during the last quarter. SageView Advisory Group LLC acquired a new position in General Dynamics during the 4th quarter worth approximately $653,000. Johnson Financial Group Inc. lifted its stake in General Dynamics by 12.5% in the 4th quarter. Johnson Financial Group Inc. now owns 370 shares of the aerospace company’s stock valued at $96,000 after purchasing an additional 41 shares during the last quarter. Sculati Wealth Management LLC boosted its position in General Dynamics by 12.1% in the fourth quarter. Sculati Wealth Management LLC now owns 5,797 shares of the aerospace company’s stock valued at $1,505,000 after buying an additional 627 shares in the last quarter. Finally, 3Chopt Investment Partners LLC bought a new stake in shares of General Dynamics during the fourth quarter worth $239,000. 86.14% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently commented on GD shares. BTIG Research started coverage on General Dynamics in a research note on Wednesday, June 26th. They issued a “buy” rating and a $345.00 price target for the company. Royal Bank of Canada reissued an “outperform” rating and set a $320.00 price target on shares of General Dynamics in a research note on Thursday, July 25th. Robert W. Baird reaffirmed 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 lifted their target price on shares of General Dynamics from $330.00 to $334.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of General Dynamics in a research report on Monday, July 29th. Six analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $315.06.

General Dynamics Stock Up 0.4 %

Shares of NYSE:GD opened at $308.09 on Tuesday. The business’s 50-day moving average is $295.24 and its 200-day moving average is $291.46. General Dynamics Co. has a 1 year low of $214.53 and a 1 year high of $309.97. The company has a market capitalization of $84.53 billion, a price-to-earnings ratio of 25.13, a P/E/G 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 results on Wednesday, July 24th. The aerospace company reported $3.26 EPS for the quarter, missing analysts’ consensus estimates of $3.30 by ($0.04). General Dynamics had a return on equity of 16.74% and a net margin of 7.89%. The company had revenue of $11.98 billion during the quarter, compared to analyst estimates of $11.46 billion. During the same quarter in the previous year, the business posted $2.70 earnings per share. The company’s revenue for the quarter was up 18.0% compared to the same quarter last year. Equities research analysts predict that General Dynamics Co. will post 14.52 earnings per share for the current year.

General Dynamics Dividend Announcement

The firm also recently declared 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 of this dividend is Friday, October 11th. This represents a $5.68 dividend on an annualized basis and a yield of 1.84%. 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 business’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $308.05, for a total transaction of $406,626.00. Following the completion of the sale, the director now directly owns 3,592 shares of the company’s stock, valued at $1,106,515.60. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 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.