Davies Financial Advisors Inc. Sells 61 Shares of General Dynamics Co. (NYSE:GD)

Davies Financial Advisors Inc. lessened its position in shares of General Dynamics Co. (NYSE:GD) by 6.9% in the second quarter, Holdings Channel.com reports. The firm owned 821 shares of the aerospace company’s stock after selling 61 shares during the period. Davies Financial Advisors Inc.’s holdings in General Dynamics were worth $238,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in GD. Hantz Financial Services Inc. bought a new position in shares of General Dynamics in the 2nd quarter valued at about $6,183,000. Arrow Financial Corp grew its holdings in shares of General Dynamics by 2.6% in the 2nd quarter. Arrow Financial Corp now owns 6,464 shares of the aerospace company’s stock valued at $1,875,000 after acquiring an additional 164 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in shares of General Dynamics by 4.0% in the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 23,878 shares of the aerospace company’s stock valued at $6,928,000 after acquiring an additional 908 shares in the last quarter. iA Global Asset Management Inc. grew its holdings in shares of General Dynamics by 9.3% in the 2nd quarter. iA Global Asset Management Inc. now owns 1,913 shares of the aerospace company’s stock valued at $555,000 after acquiring an additional 163 shares in the last quarter. Finally, Boston Financial Mangement LLC grew its holdings in shares of General Dynamics by 2.0% in the 2nd quarter. Boston Financial Mangement LLC now owns 2,798 shares of the aerospace company’s stock valued at $812,000 after acquiring an additional 56 shares in the last quarter. Institutional investors own 86.14% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on GD shares. BTIG Research started coverage on shares of General Dynamics in a research note on Wednesday, June 26th. They issued a “buy” rating and a $345.00 target price for the company. 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. Barclays raised their target price on shares of General Dynamics from $310.00 to $325.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. Sanford C. Bernstein raised their target price on shares of General Dynamics from $290.00 to $302.00 and gave the company a “market perform” rating in a research note on Thursday, May 23rd. Finally, Morgan Stanley upgraded shares of General Dynamics from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $293.00 to $345.00 in a research note on Friday, August 9th. Six analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, General Dynamics currently has an average rating of “Moderate Buy” and a consensus price target of $315.06.

General Dynamics Price Performance

Shares of NYSE GD traded up $1.53 during midday trading on Friday, reaching $299.36. The company’s stock had a trading volume of 1,033,038 shares, compared to its average volume of 1,060,318. 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 Co. has a fifty-two week low of $214.53 and a fifty-two week high of $302.75. The business’s 50 day moving average price is $290.62 and its two-hundred day moving average price is $287.70. The company has a market cap of $82.13 billion, a P/E ratio of 24.43, a P/E/G ratio of 1.68 and a beta of 0.60.

General Dynamics (NYSE:GD) last released its quarterly earnings results on Wednesday, July 24th. The aerospace company reported $3.26 earnings per share for the quarter, missing analysts’ consensus estimates of $3.30 by ($0.04). General Dynamics had a net margin of 7.89% and a return on equity of 16.74%. The business had revenue of $11.98 billion during the quarter, compared to analyst estimates of $11.46 billion. During the same quarter in the previous year, the firm posted $2.70 earnings per share. The firm’s quarterly revenue was up 18.0% on a year-over-year basis. On average, analysts forecast that General Dynamics Co. will post 14.5 EPS for the current fiscal year.

General Dynamics Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, October 11th will be paid a $1.42 dividend. The ex-dividend date of this dividend is Friday, October 11th. This represents a $5.68 dividend on an annualized basis and a yield of 1.90%. General Dynamics’s dividend payout ratio (DPR) is 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.