EP Wealth Advisors LLC Grows Position in General Dynamics Co. (NYSE:GD)

EP Wealth Advisors LLC increased its holdings in shares of General Dynamics Co. (NYSE:GD) by 36.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 17,740 shares of the aerospace company’s stock after acquiring an additional 4,711 shares during the quarter. EP Wealth Advisors LLC’s holdings in General Dynamics were worth $5,147,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of GD. Richardson Financial Services Inc. purchased a new position in shares of General Dynamics during the 4th quarter worth $25,000. Redmont Wealth Advisors LLC acquired a new stake in General Dynamics during the first quarter worth about $25,000. Financial Synergies Wealth Advisors Inc. purchased a new position in General Dynamics during the first quarter worth about $29,000. New Covenant Trust Company N.A. acquired a new position in General Dynamics in the 1st quarter valued at about $29,000. Finally, American Capital Advisory LLC purchased a new position in General Dynamics in the second quarter worth approximately $29,000. Hedge funds and other institutional investors own 86.14% of the company’s stock.

Analysts Set New Price Targets

GD has been the topic of several research analyst reports. BTIG Research assumed coverage on shares of General Dynamics in a report on Wednesday, June 26th. They issued a “buy” rating and a $345.00 price objective on the stock. Wells Fargo & Company boosted their price target on shares of General Dynamics from $330.00 to $334.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $320.00 price objective on shares of General Dynamics in a research report on Thursday, July 25th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of General Dynamics in a research report on Monday, July 29th. Finally, Morgan Stanley raised General Dynamics from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $293.00 to $345.00 in a research note on Friday, August 9th. Five research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $318.41.

Insider Activity

In related news, Director Peter A. Wall sold 1,320 shares of General Dynamics stock in a transaction on Monday, September 16th. The shares were sold at an average price of $308.05, for a total transaction of $406,626.00. Following the sale, the director now directly owns 3,592 shares in the company, valued at approximately $1,106,515.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.52% of the company’s stock.

General Dynamics Price Performance

General Dynamics stock opened at $302.20 on Tuesday. The stock has a market cap of $82.91 billion, a P/E ratio of 24.65, a price-to-earnings-growth ratio of 1.68 and a beta of 0.61. The company has a fifty day simple moving average of $296.30 and a 200-day simple moving average of $292.43. The company has a current ratio of 1.33, a quick ratio of 0.80 and a debt-to-equity ratio of 0.33. 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 quarterly earnings data on Wednesday, July 24th. The aerospace company reported $3.26 EPS for the quarter, missing analysts’ consensus estimates of $3.30 by ($0.04). The business had revenue of $11.98 billion during the quarter, compared to analysts’ expectations of $11.46 billion. General Dynamics had a net margin of 7.89% and a return on equity of 16.74%. The company’s revenue was up 18.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.70 EPS. Equities analysts expect that General Dynamics Co. will post 14.52 EPS for the current fiscal year.

General Dynamics Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 11th will be given a dividend of $1.42 per share. The ex-dividend date is Friday, October 11th. This represents a $5.68 annualized dividend and a dividend yield of 1.88%. 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.