General Dynamics Co. (NYSE:GD) Shares Purchased by Addison Advisors LLC

Addison Advisors LLC lifted its stake in General Dynamics Co. (NYSE:GD) by 13.8% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,095 shares of the aerospace company’s stock after purchasing an additional 133 shares during the quarter. Addison Advisors LLC’s holdings in General Dynamics were worth $318,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Richardson Financial Services Inc. acquired a new position in General Dynamics in the 4th quarter worth approximately $25,000. Redmont Wealth Advisors LLC purchased a new stake in shares of General Dynamics in the 1st 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 worth $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 currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Barclays boosted their price objective on General Dynamics from $310.00 to $325.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. Royal Bank of Canada reiterated an “outperform” rating and issued 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 lifted their price objective for the company from $293.00 to $345.00 in a report on Friday, August 9th. Sanford C. Bernstein increased their target price on General Dynamics from $290.00 to $302.00 and gave the company a “market perform” rating in a research report on Thursday, May 23rd. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of General Dynamics in a research report on Monday, July 29th. Six equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, General Dynamics presently has a consensus rating of “Moderate Buy” and a consensus target price of $315.06.

General Dynamics Trading Down 0.5 %

Shares of NYSE:GD traded down $1.37 during mid-day trading on Friday, reaching $295.92. 149,129 shares of the company were exchanged, compared to its average volume of 1,056,359. General Dynamics Co. has a 1 year low of $214.53 and a 1 year high of $302.75. 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 firm’s 50-day simple moving average is $290.74 and its 200 day simple moving average is $288.67. The firm has a market cap of $81.19 billion, a price-to-earnings ratio of 24.25, 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 business had revenue of $11.98 billion for the quarter, compared to analyst estimates of $11.46 billion. During the same quarter last year, the company earned $2.70 earnings per share. General Dynamics’s quarterly revenue was up 18.0% compared to the same quarter last year. Equities research analysts forecast that General Dynamics Co. will post 14.52 EPS for the current year.

General Dynamics Dividend Announcement

The company also recently disclosed 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. 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 1.92%. General Dynamics’s payout ratio is 46.33%.

About General Dynamics

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.