Confluence Wealth Services Inc. Increases Stock Position in General Dynamics Co. (NYSE:GD)

Confluence Wealth Services Inc. increased its position in General Dynamics Co. (NYSE:GD) by 5.6% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 5,258 shares of the aerospace company’s stock after acquiring an additional 278 shares during the period. Confluence Wealth Services Inc.’s holdings in General Dynamics were worth $1,526,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in GD. MeadowBrook Investment Advisors LLC purchased a new stake in General Dynamics during the 4th quarter valued at $25,000. Richardson Financial Services Inc. bought a new stake in shares of General Dynamics during the 4th quarter valued at $25,000. Redmont Wealth Advisors LLC bought a new stake in shares of General Dynamics during the 1st quarter valued at $25,000. Financial Synergies Wealth Advisors Inc. bought a new stake in shares of General Dynamics during the 1st quarter valued at $29,000. Finally, New Covenant Trust Company N.A. bought a new stake in shares of General Dynamics during the 1st quarter valued at $29,000. 86.14% of the stock is currently owned by hedge funds and other institutional investors.

General Dynamics Price Performance

Shares of GD traded up $1.53 during midday trading on Friday, hitting $299.36. 1,033,038 shares of the company traded hands, compared to its average volume of 1,060,318. The firm has a 50 day moving average of $290.64 and a 200-day moving average of $287.91. General Dynamics Co. has a 52 week low of $214.53 and a 52 week high of $302.75. The stock has a market cap of $82.13 billion, a price-to-earnings ratio of 24.42, a PEG ratio of 1.68 and a beta of 0.60. 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 quarterly earnings data on Wednesday, July 24th. The aerospace company reported $3.26 EPS for the quarter, missing the consensus estimate of $3.30 by ($0.04). The company had revenue of $11.98 billion for 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%. The firm’s revenue for the quarter was up 18.0% on a year-over-year basis. During the same period last year, the company earned $2.70 EPS. On average, analysts forecast that General Dynamics Co. will post 14.5 EPS for the current fiscal year.

General Dynamics Announces Dividend

The firm 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 dividend of $1.42 per share. This represents a $5.68 annualized dividend and a dividend yield of 1.90%. The ex-dividend date of this dividend is Friday, October 11th. General Dynamics’s dividend payout ratio is 46.33%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on GD shares. Robert W. Baird reissued an “outperform” rating and set a $345.00 price objective on shares of General Dynamics in a research report on Tuesday, July 2nd. Wells Fargo & Company boosted their price objective on shares of General Dynamics from $330.00 to $334.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. BTIG Research started coverage on shares of General Dynamics in a research report on Wednesday, June 26th. They set a “buy” rating and a $345.00 price objective for the company. Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of General Dynamics in a research report on Monday, July 29th. Finally, Sanford C. Bernstein upped their target price on shares of General Dynamics from $290.00 to $302.00 and gave the stock a “market perform” rating in a report on Thursday, May 23rd. Six research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, General Dynamics presently has a consensus rating of “Moderate Buy” and an average price target of $315.06.

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.