Foster & Motley Inc. Reduces Holdings in General Dynamics Co. (NYSE:GD)

Foster & Motley Inc. lessened its stake in shares of General Dynamics Co. (NYSE:GD) by 8.6% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 22,008 shares of the aerospace company’s stock after selling 2,063 shares during the quarter. Foster & Motley Inc.’s holdings in General Dynamics were worth $6,385,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Redmont Wealth Advisors LLC purchased a new position in shares of General Dynamics during the 1st quarter worth about $25,000. Richardson Financial Services Inc. acquired a new stake in General Dynamics during the 4th quarter valued at $25,000. American Capital Advisory LLC purchased a new stake in General Dynamics during the 2nd quarter worth $29,000. Financial Synergies Wealth Advisors Inc. acquired a new stake in shares of General Dynamics during the first quarter valued at about $29,000. Finally, New Covenant Trust Company N.A. acquired a new position in shares of General Dynamics in the first quarter worth about $29,000. 86.14% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

GD has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of General Dynamics in a report on Monday, July 29th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $320.00 price objective on shares of General Dynamics in a report on Thursday, July 25th. Sanford C. Bernstein raised their target price on General Dynamics from $290.00 to $302.00 and gave the company a “market perform” rating in a research note on Thursday, May 23rd. Robert W. Baird restated an “outperform” rating and issued a $345.00 price target on shares of General Dynamics in a research report on Tuesday, July 2nd. Finally, Wells Fargo & Company boosted their target price on General Dynamics from $330.00 to $334.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. Six research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $315.06.

General Dynamics Stock Up 0.2 %

NYSE GD traded up $0.67 during trading on Thursday, reaching $295.02. The company’s stock had a trading volume of 216,767 shares, compared to its average volume of 1,054,050. The business has a 50-day moving average price of $290.65 and a 200-day moving average price of $288.61. General Dynamics Co. has a 1-year low of $214.53 and a 1-year high of $302.75. The stock has a market capitalization of $80.94 billion, a PE ratio of 24.01, a PEG ratio of 1.64 and a beta of 0.61. The company has a current ratio of 1.33, a quick ratio of 0.80 and a debt-to-equity ratio of 0.33.

General Dynamics (NYSE:GD) last posted 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 business had revenue of $11.98 billion for 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%. The company’s quarterly revenue was up 18.0% compared to the same quarter last year. During the same period in the previous year, the company earned $2.70 earnings per share. On average, research analysts forecast that General Dynamics Co. will post 14.52 earnings per share for the current fiscal year.

General Dynamics Dividend Announcement

The business also recently declared 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 annualized dividend and a yield of 1.93%. General Dynamics’s dividend payout ratio (DPR) is presently 46.33%.

General Dynamics 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.