AE Wealth Management LLC Boosts Stake in General Dynamics Co. (NYSE:GD)

AE Wealth Management LLC lifted its holdings in shares of General Dynamics Co. (NYSE:GD) by 1.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,225 shares of the aerospace company’s stock after purchasing an additional 94 shares during the quarter. AE Wealth Management LLC’s holdings in General Dynamics were worth $1,516,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Richardson Financial Services Inc. acquired a new stake in shares of General Dynamics during the fourth quarter valued at about $25,000. Redmont Wealth Advisors LLC acquired a new stake in General Dynamics in the 1st quarter valued at approximately $25,000. Financial Synergies Wealth Advisors Inc. purchased a new stake in General Dynamics in the first quarter valued at approximately $29,000. New Covenant Trust Company N.A. acquired a new position in General Dynamics during the first quarter worth $29,000. Finally, American Capital Advisory LLC purchased a new position in shares of General Dynamics during the second quarter worth $29,000. 86.14% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Peter A. Wall sold 1,320 shares of the company’s stock in a transaction on 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 sale, the director now owns 3,592 shares in the company, valued at approximately $1,106,515.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.52% of the company’s stock.

Wall Street Analyst Weigh In

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

General Dynamics Stock Up 0.4 %

GD stock opened at $308.09 on Tuesday. The company’s 50 day moving average is $295.24 and its two-hundred day moving average is $291.46. General Dynamics Co. has a twelve month low of $214.53 and a twelve month high of $309.97. The company has a current ratio of 1.33, a quick ratio of 0.80 and a debt-to-equity ratio of 0.33. The stock has a market cap of $84.53 billion, a P/E ratio of 25.13, a PEG ratio of 1.64 and a beta of 0.61.

General Dynamics (NYSE:GD) last released its quarterly earnings data 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). General Dynamics had a net margin of 7.89% and a return on equity of 16.74%. 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 prior year, the company earned $2.70 EPS. The business’s revenue was up 18.0% on a year-over-year basis. Research analysts expect that General Dynamics Co. will post 14.52 earnings per share 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. 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 yield of 1.84%. The ex-dividend date of this dividend is Friday, October 11th. General Dynamics’s dividend payout ratio is currently 46.33%.

General Dynamics Company 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.