Family Firm Inc. Acquires New Position in General Dynamics Co. (NYSE:GD)

Family Firm Inc. acquired a new stake in shares of General Dynamics Co. (NYSE:GD) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 161 shares of the aerospace company’s stock, valued at approximately $47,000.

A number of other hedge funds also recently made changes to their positions in the stock. MeadowBrook Investment Advisors LLC purchased a new position in General Dynamics in the 4th quarter worth approximately $25,000. Richardson Financial Services Inc. purchased a new position in General Dynamics in the 4th quarter worth approximately $25,000. Redmont Wealth Advisors LLC purchased a new position in General Dynamics in the 1st quarter worth approximately $25,000. Financial Synergies Wealth Advisors Inc. purchased a new position in General Dynamics in the 1st quarter worth approximately $29,000. Finally, New Covenant Trust Company N.A. purchased a new position in General Dynamics in the 1st quarter worth approximately $29,000. 86.14% of the stock is currently owned by institutional investors.

General Dynamics Stock Performance

Shares of General Dynamics stock opened at $291.45 on Friday. The stock’s fifty day moving average is $290.89 and its two-hundred day moving average is $287.14. The company has a market capitalization of $79.96 billion, a PE ratio of 23.77, a price-to-earnings-growth ratio of 1.68 and a beta of 0.60. The company has a quick ratio of 0.80, a current ratio of 1.33 and a debt-to-equity ratio of 0.33. General Dynamics Co. has a 52 week low of $214.53 and a 52 week high of $302.75.

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 the consensus estimate of $3.30 by ($0.04). The business had revenue of $11.98 billion during the quarter, compared to the consensus estimate of $11.46 billion. General Dynamics had a net margin of 7.89% and a return on equity of 16.74%. The business’s revenue was up 18.0% compared to the same quarter last year. During the same period last year, the company earned $2.70 EPS. As a group, analysts expect that General Dynamics Co. will post 14.5 earnings per share for the current year.

General Dynamics Dividend Announcement

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

Analyst Ratings Changes

A number of research analysts recently commented on GD shares. Royal Bank of Canada reissued an “outperform” rating and issued a $320.00 price target on shares of General Dynamics in a report on Thursday, July 25th. Barclays upped their price objective on General Dynamics from $310.00 to $325.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. Argus upped their price objective on General Dynamics from $290.00 to $310.00 and gave the stock 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, 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. Six 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, General Dynamics has a consensus rating of “Moderate Buy” and a consensus price target 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.