Ellis Investment Partners LLC Buys 95 Shares of General Dynamics Co. (NYSE:GD)

Ellis Investment Partners LLC raised its stake in General Dynamics Co. (NYSE:GD) by 1.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 5,189 shares of the aerospace company’s stock after buying an additional 95 shares during the period. Ellis Investment Partners LLC’s holdings in General Dynamics were worth $1,506,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Redmont Wealth Advisors LLC bought a new stake in shares of General Dynamics during the 1st quarter valued at about $25,000. Richardson Financial Services Inc. bought a new stake in shares of General Dynamics during the 4th quarter valued at about $25,000. American Capital Advisory LLC bought a new position in General Dynamics in the second quarter worth approximately $29,000. Financial Synergies Wealth Advisors Inc. bought a new position in General Dynamics in the first quarter worth approximately $29,000. Finally, New Covenant Trust Company N.A. bought a new position in General Dynamics in the first quarter worth approximately $29,000. Institutional investors own 86.14% of the company’s stock.

Analyst Upgrades and Downgrades

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

General Dynamics Stock Performance

NYSE:GD opened at $292.78 on Friday. 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 business has a fifty day simple moving average of $290.80 and a two-hundred day simple moving average of $288.98. General Dynamics Co. has a 1 year low of $214.53 and a 1 year high of $302.75. The company has a market capitalization of $80.33 billion, a P/E ratio of 23.88, a P/E/G ratio of 1.64 and a beta of 0.61.

General Dynamics (NYSE:GD) last released its earnings results on Wednesday, July 24th. The aerospace company reported $3.26 earnings per share (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 firm had revenue of $11.98 billion during the quarter, compared to analysts’ expectations of $11.46 billion. During the same period in the prior year, the business earned $2.70 earnings per share. The business’s quarterly revenue was up 18.0% compared to the same quarter last year. On average, analysts expect that General Dynamics Co. will post 14.52 earnings per share for the current year.

General Dynamics Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 11th will be issued a $1.42 dividend. This represents a $5.68 dividend on an annualized basis and a dividend yield of 1.94%. The ex-dividend date is Friday, October 11th. General Dynamics’s 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.