Liberty Wealth Management LLC Buys 29,303 Shares of General Dynamics Co. (NYSE:GD)

Liberty Wealth Management LLC raised its stake in General Dynamics Co. (NYSE:GD) by 18,905.2% during the 2nd quarter, Holdings Channel reports. The fund owned 29,458 shares of the aerospace company’s stock after acquiring an additional 29,303 shares during the period. Liberty Wealth Management LLC’s holdings in General Dynamics were worth $156,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the business. Geode Capital Management LLC raised its holdings in General Dynamics by 2.3% in the 1st quarter. Geode Capital Management LLC now owns 3,523,477 shares of the aerospace company’s stock valued at $637,887,000 after acquiring an additional 79,770 shares during the period. Bank of New York Mellon Corp grew its position in shares of General Dynamics by 2.7% during the 1st quarter. Bank of New York Mellon Corp now owns 2,463,405 shares of the aerospace company’s stock worth $447,258,000 after purchasing an additional 65,858 shares in the last quarter. Bank of Montreal Can grew its position in shares of General Dynamics by 12.2% during the 2nd quarter. Bank of Montreal Can now owns 1,944,531 shares of the aerospace company’s stock worth $367,185,000 after purchasing an additional 211,992 shares in the last quarter. Prospera Financial Services Inc grew its position in shares of General Dynamics by 8,915.9% during the 2nd quarter. Prospera Financial Services Inc now owns 1,894,060 shares of the aerospace company’s stock worth $2,169,000 after purchasing an additional 1,873,052 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in shares of General Dynamics by 0.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,420,179 shares of the aerospace company’s stock worth $267,363,000 after purchasing an additional 9,271 shares in the last quarter. 85.22% of the stock is currently owned by hedge funds and other institutional investors.

Shares of General Dynamics stock opened at $203.39 on Thursday. General Dynamics Co. has a fifty-two week low of $129.17 and a fifty-two week high of $206.46. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.44 and a quick ratio of 1.05. The firm has a market capitalization of $56.86 billion, a P/E ratio of 17.72, a P/E/G ratio of 2.04 and a beta of 1.14. The company’s 50 day moving average price is $198.93 and its two-hundred day moving average price is $192.47.

General Dynamics (NYSE:GD) last issued its earnings results on Wednesday, July 28th. The aerospace company reported $2.61 earnings per share for the quarter, beating analysts’ consensus estimates of $2.52 by $0.09. General Dynamics had a net margin of 8.52% and a return on equity of 21.50%. The firm had revenue of $9.22 billion for the quarter, compared to analyst estimates of $9.23 billion. On average, analysts expect that General Dynamics Co. will post 11.49 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, November 12th. Shareholders of record on Friday, October 8th will be given a $1.19 dividend. The ex-dividend date is Thursday, October 7th. This represents a $4.76 dividend on an annualized basis and a yield of 2.34%. General Dynamics’s dividend payout ratio is currently 43.27%.

A number of research analysts have issued reports on GD shares. The Goldman Sachs Group upgraded shares of General Dynamics from a “sell” rating to a “neutral” rating and set a $176.00 target price on the stock in a research report on Thursday, September 23rd. Credit Suisse Group increased their target price on shares of General Dynamics from $182.00 to $198.00 and gave the stock a “neutral” rating in a research report on Thursday, July 29th. Wells Fargo & Company increased their target price on shares of General Dynamics from $216.00 to $220.00 and gave the stock an “overweight” rating in a research report on Friday, July 30th. Cowen reiterated a “buy” rating on shares of General Dynamics in a research report on Monday, August 9th. Finally, Zacks Investment Research upgraded shares of General Dynamics from a “hold” rating to a “buy” rating and set a $208.00 price target on the stock in a research report on Thursday, August 5th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $208.45.

About General Dynamics

General Dynamics Corp. is an aerospace and defense company, which engages in the provision of tanks, rockets, missiles, submarines, warships, fighters and electronics to all of the military services. It operates through the following segments: Aerospace, Combat Systems, Information Technology, and Marine Systems.

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Institutional Ownership by Quarter for General Dynamics (NYSE:GD)

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