General Dynamics Co. (NYSE:GD) Shares Acquired by LRI Investments LLC

LRI Investments LLC boosted its position in General Dynamics Co. (NYSE:GD) by 288.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,018 shares of the aerospace company’s stock after acquiring an additional 2,983 shares during the quarter. LRI Investments LLC’s holdings in General Dynamics were worth $1,166,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in GD. Redmont Wealth Advisors LLC acquired a new position in shares of General Dynamics in the 1st quarter valued at about $25,000. MeadowBrook Investment Advisors LLC purchased a new position in General Dynamics in the fourth quarter valued at approximately $25,000. Richardson Financial Services Inc. acquired a new position in General Dynamics during the fourth quarter valued at approximately $25,000. Financial Synergies Wealth Advisors Inc. purchased a new stake in General Dynamics during the first quarter worth approximately $29,000. Finally, New Covenant Trust Company N.A. acquired a new stake in shares of General Dynamics in the first quarter worth $29,000. Hedge funds and other institutional investors own 86.14% of the company’s stock.

General Dynamics Stock Down 0.7 %

NYSE:GD traded down $2.00 during mid-day trading on Friday, reaching $291.45. The stock had a trading volume of 864,741 shares, compared to its average volume of 1,055,741. The stock’s 50 day simple moving average is $290.89 and its two-hundred day simple moving average is $287.01. 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 $79.96 billion, a price-to-earnings ratio of 23.77, a price-to-earnings-growth ratio of 1.68 and a beta of 0.60. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.33 and a quick ratio of 0.80.

General Dynamics (NYSE:GD) last issued its earnings results 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 firm had revenue of $11.98 billion during the quarter, compared to analyst estimates of $11.46 billion. General Dynamics had a return on equity of 16.74% and a net margin of 7.89%. General Dynamics’s 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 EPS. Equities analysts anticipate that General Dynamics Co. will post 14.5 EPS for the current year.

General Dynamics Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, October 11th will be issued a dividend of $1.42 per share. The ex-dividend date of this dividend is Friday, October 11th. This represents a $5.68 dividend on an annualized basis and a dividend yield of 1.95%. General Dynamics’s dividend payout ratio (DPR) is 46.33%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on GD. Morgan Stanley upgraded shares of General Dynamics from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $293.00 to $345.00 in a report on Friday, August 9th. Jefferies Financial Group raised General Dynamics from a “hold” rating to a “buy” rating and upped their target price for the stock from $305.00 to $335.00 in a research report on Monday, April 29th. Argus raised their target price on General Dynamics from $290.00 to $310.00 and gave the company a “buy” rating in a report on Monday, April 29th. StockNews.com cut General Dynamics from a “strong-buy” rating to a “buy” rating in a report on Friday, May 3rd. Finally, Wells Fargo & Company lifted their price objective 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. Six research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, General Dynamics currently has an average rating of “Moderate Buy” and an average target price 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.