PFG Investments LLC Buys 280 Shares of General Dynamics Co. (NYSE:GD)

PFG Investments LLC raised its stake in shares of General Dynamics Co. (NYSE:GD) by 22.1% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 1,548 shares of the aerospace company’s stock after purchasing an additional 280 shares during the quarter. PFG Investments LLC’s holdings in General Dynamics were worth $449,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Modera Wealth Management LLC boosted its stake in General Dynamics by 0.4% during the second quarter. Modera Wealth Management LLC now owns 8,120 shares of the aerospace company’s stock worth $2,356,000 after buying an additional 35 shares in the last quarter. Legend Financial Advisors Inc. boosted its position in shares of General Dynamics by 46.8% during the 1st quarter. Legend Financial Advisors Inc. now owns 113 shares of the aerospace company’s stock valued at $32,000 after acquiring an additional 36 shares in the last quarter. Diversified Trust Co increased its stake in General Dynamics by 2.5% in the first quarter. Diversified Trust Co now owns 1,503 shares of the aerospace company’s stock valued at $425,000 after acquiring an additional 36 shares during the period. Fulton Bank N.A. raised its position in General Dynamics by 1.1% in the first quarter. Fulton Bank N.A. now owns 3,299 shares of the aerospace company’s stock worth $932,000 after purchasing an additional 37 shares in the last quarter. Finally, Copperwynd Financial LLC lifted its stake in General Dynamics by 3.7% during the fourth quarter. Copperwynd Financial LLC now owns 1,056 shares of the aerospace company’s stock worth $274,000 after purchasing an additional 38 shares during the period. Institutional investors and hedge funds own 86.14% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on GD. Sanford C. Bernstein increased their target price on General Dynamics from $290.00 to $302.00 and gave the stock a “market perform” rating in a report on Thursday, May 23rd. Robert W. Baird reiterated an “outperform” rating and set a $345.00 price objective on shares of General Dynamics in a research note on Tuesday, July 2nd. BTIG Research initiated coverage on shares of General Dynamics in a research note on Wednesday, June 26th. They issued a “buy” rating and a $345.00 target price on the stock. Wells Fargo & Company increased their target price on shares of General Dynamics from $330.00 to $334.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of General Dynamics in a research report on Monday, July 29th. Six investment 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.com, General Dynamics has a consensus rating of “Moderate Buy” and a consensus target price of $315.06.

General Dynamics Stock Up 0.4 %

Shares of GD opened at $300.72 on Friday. The firm has a market capitalization of $82.63 billion, a price-to-earnings ratio of 24.53, a PEG ratio of 1.60 and a beta of 0.61. General Dynamics Co. has a 52 week low of $214.53 and a 52 week high of $306.51. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.80 and a current ratio of 1.33. The business’s fifty day moving average price is $292.01 and its two-hundred day moving average price is $289.65.

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 analysts’ consensus estimates of $3.30 by ($0.04). The firm had revenue of $11.98 billion during 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%. General Dynamics’s revenue for the quarter was up 18.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.70 earnings per share. On average, analysts predict that General Dynamics Co. will post 14.52 earnings per share for the current year.

General Dynamics Announces Dividend

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 paid a $1.42 dividend. The ex-dividend date is Friday, October 11th. This represents a $5.68 dividend on an annualized basis and a yield of 1.89%. General Dynamics’s payout ratio 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.