Beverly Hills Private Wealth LLC Lowers Stock Position in General Dynamics Co. (NYSE:GD)

Beverly Hills Private Wealth LLC trimmed its position in General Dynamics Co. (NYSE:GD) by 12.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,448 shares of the aerospace company’s stock after selling 211 shares during the quarter. Beverly Hills Private Wealth LLC’s holdings in General Dynamics were worth $420,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in GD. Gladstone Capital Management LLP purchased a new stake in shares of General Dynamics in the fourth quarter worth $3,869,000. SWP Financial LLC purchased a new stake in General Dynamics in the 4th quarter worth $227,000. Sanibel Captiva Trust Company Inc. bought a new stake in General Dynamics during the fourth quarter valued at about $28,107,000. Evercore Wealth Management LLC lifted its position in shares of General Dynamics by 1.5% in the fourth quarter. Evercore Wealth Management LLC now owns 5,355 shares of the aerospace company’s stock valued at $1,391,000 after acquiring an additional 78 shares in the last quarter. Finally, TD Asset Management Inc boosted its stake in shares of General Dynamics by 7.2% in the fourth quarter. TD Asset Management Inc now owns 80,280 shares of the aerospace company’s stock worth $20,846,000 after acquiring an additional 5,405 shares during the period. Institutional investors own 86.14% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Royal Bank of Canada reissued an “outperform” rating and set a $320.00 target price on shares of General Dynamics in a research note on Thursday, July 25th. Morgan Stanley raised shares of General Dynamics from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $293.00 to $345.00 in a report on Friday, August 9th. Wells Fargo & Company raised their target price on shares of General Dynamics from $330.00 to $334.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of General Dynamics in a research note on Monday, July 29th. Finally, Barclays raised their price objective on General Dynamics from $310.00 to $325.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. Six research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $315.06.

General Dynamics Stock Up 0.4 %

Shares of NYSE:GD opened at $300.72 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 50 day simple moving average of $292.01 and a two-hundred day simple moving average of $289.65. General Dynamics Co. has a 1 year low of $214.53 and a 1 year high of $306.51. The firm has a market capitalization of $82.63 billion, a PE ratio of 24.53, a price-to-earnings-growth ratio of 1.60 and a beta of 0.61.

General Dynamics (NYSE:GD) last issued 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). The company had revenue of $11.98 billion for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.70 earnings per share. On average, equities analysts predict that General Dynamics Co. will post 14.52 EPS 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 paid a dividend of $1.42 per share. This represents a $5.68 annualized dividend and a dividend yield of 1.89%. The ex-dividend date of this dividend is Friday, October 11th. General Dynamics’s dividend payout ratio is presently 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.