Wedbush Securities Inc. Grows Stake in General Dynamics Co. (NYSE:GD)
Wedbush Securities Inc. grew its holdings in General Dynamics Co. (NYSE:GD) by 2.7% during the second quarter, HoldingsChannel reports. The fund owned 13,869 shares of the aerospace company’s stock after purchasing an additional 362 shares during the period. Wedbush Securities Inc.’s holdings in General Dynamics were worth $2,522,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Harvest Group Wealth Management LLC acquired a new stake in General Dynamics during the 1st quarter worth approximately $28,000. TCG Advisors LP acquired a new stake in General Dynamics during the 1st quarter worth approximately $38,000. Zions Bancorporation N.A. acquired a new stake in General Dynamics during the 1st quarter worth approximately $40,000. Princeton Global Asset Management LLC acquired a new stake in General Dynamics during the 1st quarter worth approximately $42,000. Finally, Horan Capital Advisors LLC. acquired a new stake in General Dynamics during the 1st quarter worth approximately $47,000. Institutional investors and hedge funds own 86.84% of the company’s stock.
A number of analysts have weighed in on the company. Goldman Sachs Group raised General Dynamics from a “neutral” rating to a “buy” rating and set a $204.00 price objective for the company in a research report on Sunday, May 19th. Cowen reaffirmed a “buy” rating and set a $202.00 price objective on shares of General Dynamics in a research report on Wednesday, April 24th. Morgan Stanley increased their price objective on General Dynamics from $170.00 to $171.00 and gave the stock an “underweight” rating in a research report on Friday, June 14th. JPMorgan Chase & Co. raised General Dynamics from an “underweight” rating to a “neutral” rating and increased their price objective for the stock from $188.00 to $200.00 in a research report on Thursday, April 25th. They noted that the move was a valuation call. Finally, UBS Group increased their price objective on General Dynamics from $175.00 to $190.00 and gave the stock a “neutral” rating in a research report on Thursday, April 25th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and seven have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $191.35.
Shares of GD traded up $1.80 during mid-day trading on Tuesday, hitting $183.15. The company’s stock had a trading volume of 24,530 shares, compared to its average volume of 1,132,771. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.09 and a quick ratio of 0.73. The business has a 50-day moving average of $183.46. The stock has a market capitalization of $52.37 billion, a price-to-earnings ratio of 16.06, a P/E/G ratio of 1.78 and a beta of 1.21. General Dynamics Co. has a 1-year low of $143.87 and a 1-year high of $207.72.
General Dynamics (NYSE:GD) last posted its quarterly earnings results on Wednesday, July 24th. The aerospace company reported $2.77 EPS for the quarter, beating the consensus estimate of $2.68 by $0.09. The business had revenue of $9.56 billion during the quarter, compared to analysts’ expectations of $9.36 billion. General Dynamics had a return on equity of 26.81% and a net margin of 8.65%. The company’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same period last year, the firm earned $2.82 EPS. Sell-side analysts anticipate that General Dynamics Co. will post 11.83 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 11th will be issued a $1.02 dividend. The ex-dividend date is Thursday, October 10th. This represents a $4.08 annualized dividend and a dividend yield of 2.23%. General Dynamics’s dividend payout ratio is currently 35.73%.
General Dynamics Company 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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