Bright Futures Wealth Management LLC. Grows Holdings in General Dynamics Co. (NYSE:GD)

Bright Futures Wealth Management LLC. increased its stake in shares of General Dynamics Co. (NYSE:GD) by 6.5% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 4,850 shares of the aerospace company’s stock after purchasing an additional 296 shares during the period. Bright Futures Wealth Management LLC.’s holdings in General Dynamics were worth $1,418,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in GD. Price T Rowe Associates Inc. MD increased its holdings in General Dynamics by 2.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 4,782,612 shares of the aerospace company’s stock valued at $1,351,041,000 after buying an additional 115,063 shares during the last quarter. Sanders Capital LLC increased its holdings in shares of General Dynamics by 3.7% in the 4th quarter. Sanders Capital LLC now owns 4,164,857 shares of the aerospace company’s stock valued at $1,081,488,000 after acquiring an additional 147,800 shares during the last quarter. Norges Bank acquired a new stake in shares of General Dynamics during the 4th quarter worth about $728,284,000. Northern Trust Corp lifted its stake in General Dynamics by 1.1% during the fourth quarter. Northern Trust Corp now owns 2,282,757 shares of the aerospace company’s stock worth $592,764,000 after purchasing an additional 24,395 shares during the last quarter. Finally, Boston Partners boosted its holdings in General Dynamics by 1.4% in the first quarter. Boston Partners now owns 1,680,666 shares of the aerospace company’s stock valued at $474,927,000 after purchasing an additional 23,262 shares in the last quarter. Institutional investors and hedge funds own 86.14% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Sanford C. Bernstein boosted their price objective on shares of General Dynamics from $290.00 to $302.00 and gave the stock a “market perform” rating in a research report on Thursday, May 23rd. Morgan Stanley raised shares of General Dynamics from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $293.00 to $345.00 in a research report on Friday, August 9th. Robert W. Baird reaffirmed an “outperform” rating and set a $345.00 price objective on shares of General Dynamics in a report on Tuesday, July 2nd. BTIG Research assumed coverage on General Dynamics in a report on Wednesday, June 26th. They issued a “buy” rating and a $345.00 target price for the company. Finally, Barclays upped their target price 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 equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $315.06.

General Dynamics Price Performance

General Dynamics stock opened at $301.56 on Tuesday. The business has a 50 day simple moving average of $291.07 and a 200-day simple moving average of $289.30. General Dynamics Co. has a 12 month low of $214.53 and a 12 month high of $303.10. 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 stock has a market capitalization of $82.86 billion, a PE ratio of 24.60, a price-to-earnings-growth ratio of 1.60 and a beta of 0.61.

General Dynamics (NYSE:GD) last announced its quarterly earnings data on Wednesday, July 24th. The aerospace company reported $3.26 EPS for the quarter, missing analysts’ consensus estimates of $3.30 by ($0.04). The firm had revenue of $11.98 billion for the quarter, compared to analysts’ expectations of $11.46 billion. General Dynamics had a return on equity of 16.74% and a net margin of 7.89%. The firm’s quarterly revenue was up 18.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.70 EPS. Equities analysts predict that General Dynamics Co. will post 14.52 earnings per share for the current year.

General Dynamics Dividend Announcement

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 given a $1.42 dividend. The ex-dividend date is Friday, October 11th. This represents a $5.68 dividend on an annualized basis and a yield of 1.88%. General Dynamics’s payout ratio is currently 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.