Diversify Wealth Management LLC Purchases Shares of 8,446 General Dynamics Co. (NYSE:GD)

Diversify Wealth Management LLC purchased a new stake in General Dynamics Co. (NYSE:GD) during the second quarter, according to the company in its most recent filing with the SEC. The firm purchased 8,446 shares of the aerospace company’s stock, valued at approximately $2,415,000.

Other hedge funds also recently made changes to their positions in the company. Gladstone Capital Management LLP acquired a new position in shares of General Dynamics in the 4th quarter valued at $3,869,000. SWP Financial LLC acquired a new position in shares of General Dynamics in the 4th quarter valued at $227,000. Sanibel Captiva Trust Company Inc. acquired a new position in shares of General Dynamics in the 4th quarter valued at $28,107,000. Evercore Wealth Management LLC boosted its holdings in shares of General Dynamics by 1.5% in the 4th quarter. Evercore Wealth Management LLC now owns 5,355 shares of the aerospace company’s stock valued at $1,391,000 after purchasing an additional 78 shares during the last quarter. Finally, TD Asset Management Inc lifted its holdings in shares of General Dynamics by 7.2% during the 4th quarter. TD Asset Management Inc now owns 80,280 shares of the aerospace company’s stock valued at $20,846,000 after acquiring an additional 5,405 shares in the last quarter. Institutional investors and hedge funds own 86.14% of the company’s stock.

General Dynamics Price Performance

GD opened at $304.80 on Friday. The company has a 50-day moving average of $292.48 and a 200-day moving average of $289.98. The company has a market capitalization of $83.63 billion, a P/E ratio of 24.86, a PEG ratio of 1.64 and a beta of 0.61. General Dynamics Co. has a 1-year low of $214.53 and a 1-year high of $306.51. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.80 and a current ratio of 1.33.

General Dynamics (NYSE:GD) last released its earnings results on Wednesday, July 24th. The aerospace company reported $3.26 earnings per share for the quarter, missing the consensus estimate of $3.30 by ($0.04). The company had revenue of $11.98 billion during the quarter, compared to the consensus estimate of $11.46 billion. General Dynamics had a return on equity of 16.74% and a net margin of 7.89%. General Dynamics’s revenue for the quarter was up 18.0% on a year-over-year basis. During the same period in the previous year, the firm 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 announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 11th will be given a $1.42 dividend. This represents a $5.68 annualized dividend and a dividend yield of 1.86%. The ex-dividend date is Friday, October 11th. General Dynamics’s payout ratio is currently 46.33%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on GD. Barclays lifted their target price on shares of General Dynamics from $310.00 to $325.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. Morgan Stanley upgraded shares of General Dynamics from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $293.00 to $345.00 in a report on Friday, August 9th. Royal Bank of Canada restated an “outperform” rating and set a $320.00 target price on shares of General Dynamics in a report on Thursday, July 25th. Robert W. Baird restated an “outperform” rating and set a $345.00 target price on shares of General Dynamics in a report on Tuesday, July 2nd. Finally, BTIG Research began coverage on shares of General Dynamics in a report on Wednesday, June 26th. They set a “buy” rating and a $345.00 target price on the stock. Six research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, General Dynamics presently has a consensus rating of “Moderate Buy” and an average price target of $315.06.

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.