Creative Planning Purchases 1,988 Shares of General Dynamics Co. (NYSE:GD)

Creative Planning increased its position in General Dynamics Co. (NYSE:GD) by 4.6% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 45,042 shares of the aerospace company’s stock after purchasing an additional 1,988 shares during the quarter. Creative Planning’s holdings in General Dynamics were worth $13,068,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the company. Richardson Financial Services Inc. bought a new position in General Dynamics during the fourth quarter worth $25,000. Redmont Wealth Advisors LLC bought a new stake in shares of General Dynamics during the 1st quarter worth about $25,000. Financial Synergies Wealth Advisors Inc. bought a new position in General Dynamics in the 1st quarter valued at about $29,000. New Covenant Trust Company N.A. acquired a new stake in General Dynamics during the first quarter worth approximately $29,000. Finally, American Capital Advisory LLC bought 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 institutional investors and hedge funds.

Wall Street Analyst Weigh In

GD has been the subject of several research reports. Morgan Stanley raised General Dynamics from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $293.00 to $345.00 in a report on Friday, August 9th. Barclays boosted their target price on shares of General Dynamics from $310.00 to $325.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. Robert W. Baird reaffirmed an “outperform” rating and set a $345.00 price target on shares of General Dynamics in a research report on Tuesday, July 2nd. BTIG Research initiated coverage on shares of General Dynamics in a report on Wednesday, June 26th. They issued a “buy” rating and a $345.00 price objective for the company. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $320.00 target price on shares of General Dynamics in a report on Thursday, July 25th. Six equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $317.41.

General Dynamics Price Performance

GD stock opened at $305.32 on Wednesday. General Dynamics Co. has a 1 year low of $214.53 and a 1 year high of $309.97. 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 cap of $83.77 billion, a price-to-earnings ratio of 24.90, a P/E/G ratio of 1.68 and a beta of 0.61. The company has a 50 day simple moving average of $296.51 and a 200 day simple moving average of $292.64.

General Dynamics (NYSE:GD) last announced 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). The firm had revenue of $11.98 billion during the quarter, compared to the consensus estimate of $11.46 billion. General Dynamics had a net margin of 7.89% and a return on equity of 16.74%. During the same quarter in the previous year, the company posted $2.70 earnings per share. The firm’s revenue was up 18.0% on a year-over-year basis. Research analysts anticipate that General Dynamics Co. will post 14.52 EPS for the current fiscal year.

General Dynamics Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 11th will be paid a $1.42 dividend. This represents a $5.68 annualized dividend and a dividend yield of 1.86%. The ex-dividend date of this dividend is Friday, October 11th. General Dynamics’s dividend payout ratio is currently 46.33%.

Insider Activity at General Dynamics

In other General Dynamics news, Director Peter A. Wall sold 1,320 shares of the business’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $1,106,515.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.52% of the stock is owned by company insiders.

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.