Asset Dedication LLC Purchases 129 Shares of General Dynamics Co. (NYSE:GD)

Asset Dedication LLC grew its position in shares of General Dynamics Co. (NYSE:GD) by 2.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,097 shares of the aerospace company’s stock after buying an additional 129 shares during the quarter. Asset Dedication LLC’s holdings in General Dynamics were worth $1,479,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of GD. Price T Rowe Associates Inc. MD increased its holdings in General Dynamics by 2.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,782,612 shares of the aerospace company’s stock valued at $1,351,041,000 after purchasing an additional 115,063 shares in the last quarter. Sanders Capital LLC increased its stake in shares of General Dynamics by 3.7% in the fourth quarter. Sanders Capital LLC now owns 4,164,857 shares of the aerospace company’s stock valued at $1,081,488,000 after buying an additional 147,800 shares in the last quarter. Norges Bank bought a new position in shares of General Dynamics in the fourth quarter valued at about $728,284,000. Northern Trust Corp lifted its position in General Dynamics by 1.1% during the 4th quarter. Northern Trust Corp now owns 2,282,757 shares of the aerospace company’s stock worth $592,764,000 after buying an additional 24,395 shares in the last quarter. Finally, Boston Partners grew its holdings in General Dynamics by 1.4% during the 1st quarter. Boston Partners now owns 1,680,666 shares of the aerospace company’s stock worth $474,927,000 after acquiring an additional 23,262 shares during the last quarter. Institutional investors and hedge funds own 86.14% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on GD. Morgan Stanley raised shares of General Dynamics from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $293.00 to $345.00 in a research note on Friday, August 9th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $320.00 price objective on shares of General Dynamics in a report on Thursday, July 25th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of General Dynamics in a research note on Monday, July 29th. Robert W. Baird reiterated an “outperform” rating and issued a $345.00 price target on shares of General Dynamics in a report on Tuesday, July 2nd. Finally, BTIG Research initiated coverage on General Dynamics in a report on Wednesday, June 26th. They set a “buy” rating and a $345.00 price objective for the company. Six analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, General Dynamics presently has an average rating of “Moderate Buy” and an average price target of $315.06.

General Dynamics Stock Down 1.5 %

Shares of General Dynamics stock opened at $292.78 on Friday. General Dynamics Co. has a 1 year low of $214.53 and a 1 year high of $302.75. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.33 and a quick ratio of 0.80. The company has a market capitalization of $80.33 billion, a P/E ratio of 23.88, a price-to-earnings-growth ratio of 1.64 and a beta of 0.61. The business has a 50-day moving average of $290.80 and a two-hundred day moving average of $288.98.

General Dynamics (NYSE:GD) last announced its quarterly earnings results on Wednesday, July 24th. The aerospace company reported $3.26 earnings per share for the quarter, missing analysts’ consensus estimates of $3.30 by ($0.04). General Dynamics had a net margin of 7.89% and a return on equity of 16.74%. The company had revenue of $11.98 billion during the quarter, compared to the consensus estimate of $11.46 billion. During the same period in the previous year, the firm posted $2.70 EPS. The business’s quarterly revenue was up 18.0% compared to the same quarter last year. As a group, equities analysts predict that General Dynamics Co. will post 14.52 EPS for the current year.

General Dynamics Dividend Announcement

The company also recently announced 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. This represents a $5.68 dividend on an annualized basis and a yield of 1.94%. The ex-dividend date of this dividend is Friday, October 11th. General Dynamics’s dividend payout ratio (DPR) is presently 46.33%.

About General Dynamics

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.