Wealth Advisors of Tampa Bay LLC grew its position in shares of General Dynamics Co. (NYSE:GD) by 4.9% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 8,435 shares of the aerospace company’s stock after buying an additional 395 shares during the quarter. Wealth Advisors of Tampa Bay LLC’s holdings in General Dynamics were worth $1,534,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently made changes to their positions in GD. Harvest Group Wealth Management LLC purchased a new position in shares of General Dynamics in the 1st quarter valued at about $28,000. Aspire Private Capital LLC purchased a new position in shares of General Dynamics in the 4th quarter valued at about $29,000. TCG Advisors LP purchased a new position in shares of General Dynamics in the 1st quarter valued at about $38,000. Zions Bancorporation N.A. purchased a new position in shares of General Dynamics in the 1st quarter valued at about $40,000. Finally, Princeton Global Asset Management LLC purchased a new position in shares of General Dynamics in the 1st quarter valued at about $42,000. Institutional investors own 86.47% of the company’s stock.
Shares of General Dynamics stock traded up $2.12 during mid-day trading on Friday, hitting $189.73. 1,741,292 shares of the stock were exchanged, compared to its average volume of 1,300,109. General Dynamics Co. has a twelve month low of $143.87 and a twelve month high of $207.72. The company has a market cap of $54.20 billion, a PE ratio of 16.61, a price-to-earnings-growth ratio of 1.79 and a beta of 1.20. The stock has a 50-day moving average of $179.37. The company has a quick ratio of 0.82, a current ratio of 1.09 and a debt-to-equity ratio of 0.70.
General Dynamics (NYSE:GD) last released its quarterly earnings results on Wednesday, July 24th. The aerospace company reported $2.77 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.68 by $0.09. General Dynamics had a net margin of 8.65% and a return on equity of 26.81%. The company had revenue of $9.56 billion for the quarter, compared to analysts’ expectations of $9.36 billion. During the same period last year, the company earned $2.82 EPS. The firm’s revenue for the quarter was up 4.0% compared to the same quarter last year. As a group, equities research analysts expect that General Dynamics Co. will post 11.76 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, August 9th. Investors of record on Friday, July 5th will be given a $1.02 dividend. The ex-dividend date is Wednesday, July 3rd. This represents a $4.08 annualized dividend and a dividend yield of 2.15%. General Dynamics’s dividend payout ratio is presently 35.73%.
A number of equities analysts have recently issued reports on the stock. Morgan Stanley set a $18.00 price target on shares of PG&E and gave the company a “hold” rating in a report on Friday, June 14th. ValuEngine downgraded shares of Universal Electronics from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 6th. Goldman Sachs Group upgraded shares of General Dynamics from a “neutral” rating to a “buy” rating and set a $204.00 target price for the company in a report on Sunday, May 19th. Cowen restated an “outperform” rating and set a $230.00 target price (up from $200.00) on shares of Norfolk Southern in a report on Wednesday, April 24th. Finally, JPMorgan Chase & Co. restated a “hold” rating and set a $7.00 target price on shares of Deutsche Bank in a report on Thursday, April 25th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and eight have given a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $196.00.
General Dynamics Profile
General Dynamics Corporation operates as an aerospace and defense company worldwide. It operates in five segments: Aerospace, Combat Systems, Information Technology, Mission Systems, and Marine Systems. The Aerospace segment designs, manufactures, and supports business-jet aircraft; and offers business-aviation services, including maintenance, fixed-base operation, government fleet, aircraft management, charter, and staffing services, as well as integrated aviation solutions.
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