Frank Rimerman Advisors LLC Has $554,000 Holdings in General Dynamics Co. (NYSE:GD)

Frank Rimerman Advisors LLC boosted its position in shares of General Dynamics Co. (NYSE:GD) by 3,139.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,911 shares of the aerospace company’s stock after acquiring an additional 1,852 shares during the quarter. Frank Rimerman Advisors LLC’s holdings in General Dynamics were worth $554,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. Richardson Financial Services Inc. acquired a new stake in General Dynamics during the 4th quarter worth approximately $25,000. Redmont Wealth Advisors LLC bought a new stake in shares of General Dynamics in the first quarter valued at about $25,000. Financial Synergies Wealth Advisors Inc. acquired a new position in shares of General Dynamics in the first quarter valued at about $29,000. New Covenant Trust Company N.A. acquired a new stake in shares of General Dynamics in the first quarter valued at approximately $29,000. Finally, American Capital Advisory LLC acquired a new position in General Dynamics in the 2nd quarter valued at $29,000. Institutional investors and hedge funds own 86.14% of the company’s stock.

Insider Buying and Selling

In other General Dynamics news, Director Peter A. Wall sold 1,320 shares of the stock in a transaction that occurred on Monday, September 16th. The stock was 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 document filed with the SEC, which is available at this link. 1.52% of the stock is owned by insiders.

Analyst Ratings Changes

A number of brokerages have recently weighed in on GD. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of General Dynamics in a report on Monday, July 29th. Morgan Stanley raised General Dynamics from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $293.00 to $345.00 in a report on Friday, August 9th. Robert W. Baird reiterated an “outperform” rating and issued a $345.00 target price on shares of General Dynamics in a research report on Tuesday, July 2nd. 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 target price for the company. Finally, Wells Fargo & Company lifted their price target on shares of General Dynamics from $330.00 to $334.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Six investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $315.06.

General Dynamics Stock Up 0.4 %

GD opened at $308.09 on Tuesday. General Dynamics Co. has a 12 month low of $214.53 and a 12 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 business’s 50-day moving average price is $295.24 and its 200-day moving average price is $291.46. The company has a market cap of $84.53 billion, a P/E ratio of 25.13, a P/E/G ratio of 1.64 and a beta of 0.61.

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). 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 analysts’ expectations of $11.46 billion. During the same period last year, the firm earned $2.70 earnings per share. General Dynamics’s revenue for the quarter was up 18.0% on a year-over-year basis. On average, equities analysts expect that General Dynamics Co. will post 14.52 EPS for the current year.

General Dynamics Announces Dividend

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 given a $1.42 dividend. This represents a $5.68 dividend on an annualized basis and a dividend yield of 1.84%. The ex-dividend date is Friday, October 11th. General Dynamics’s payout ratio is 46.33%.

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.