Johnson Investment Counsel Inc. Has $1.14 Million Holdings in General Dynamics Co. (NYSE:GD)

Johnson Investment Counsel Inc. grew its position in General Dynamics Co. (NYSE:GD) by 14.7% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 3,940 shares of the aerospace company’s stock after purchasing an additional 504 shares during the period. Johnson Investment Counsel Inc.’s holdings in General Dynamics were worth $1,143,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Richardson Financial Services Inc. purchased a new stake in shares of General Dynamics in the 4th quarter valued at approximately $25,000. Redmont Wealth Advisors LLC purchased a new stake in shares of General Dynamics in the first quarter valued at $25,000. Financial Synergies Wealth Advisors Inc. acquired a new stake in shares of General Dynamics in the first quarter worth $29,000. New Covenant Trust Company N.A. purchased a new position in shares of General Dynamics during the first quarter valued at $29,000. Finally, American Capital Advisory LLC acquired a new position in General Dynamics during the second quarter valued at $29,000. 86.14% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

GD has been the subject of a number of research reports. Wells Fargo & Company raised their price objective on General Dynamics from $330.00 to $334.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. Sanford C. Bernstein boosted their price objective on shares of General Dynamics from $290.00 to $302.00 and gave the company a “market perform” rating in a research report on Thursday, May 23rd. BTIG Research started coverage on shares of General Dynamics in a research report on Wednesday, June 26th. They issued a “buy” rating and a $345.00 target price for the company. Robert W. Baird restated an “outperform” rating and set a $345.00 price target on shares of General Dynamics in a report on Tuesday, July 2nd. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $320.00 price objective on shares of General Dynamics in a report on Thursday, July 25th. Six research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $315.06.

General Dynamics Trading Up 1.4 %

Shares of GD stock opened at $304.83 on Friday. General Dynamics Co. has a 12 month low of $214.53 and a 12 month high of $306.51. The company has a market cap of $83.63 billion, a PE ratio of 24.86, a price-to-earnings-growth ratio of 1.64 and a beta of 0.61. The company has a quick ratio of 0.80, a current ratio of 1.33 and a debt-to-equity ratio of 0.33. The business’s 50 day moving average is $292.48 and its two-hundred day moving average is $289.87.

General Dynamics (NYSE:GD) last posted 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 firm had revenue of $11.98 billion during the quarter, compared to analyst estimates of $11.46 billion. General Dynamics had a net margin of 7.89% and a return on equity of 16.74%. The business’s quarterly revenue was up 18.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.70 earnings per share. Equities analysts predict that General Dynamics Co. will post 14.52 EPS for the current year.

General Dynamics Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, October 11th will be given a dividend of $1.42 per share. The ex-dividend date of this dividend is Friday, October 11th. This represents a $5.68 annualized dividend and a dividend yield of 1.86%. General Dynamics’s dividend payout ratio is presently 46.33%.

General Dynamics 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.