General Dynamics Co. (NYSE:GD) Position Raised by Legacy Capital Wealth Partners LLC

Legacy Capital Wealth Partners LLC raised its position in shares of General Dynamics Co. (NYSE:GD) by 2.9% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,399 shares of the aerospace company’s stock after purchasing an additional 67 shares during the quarter. Legacy Capital Wealth Partners LLC’s holdings in General Dynamics were worth $623,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Briaud Financial Planning Inc acquired a new stake in General Dynamics during the third quarter worth $27,000. Rakuten Securities Inc. acquired a new stake in shares of General Dynamics during the 4th quarter valued at about $38,000. Wetzel Investment Advisors Inc. bought a new stake in General Dynamics in the fourth quarter valued at about $38,000. Operose Advisors LLC acquired a new position in General Dynamics in the third quarter worth about $40,000. Finally, Rational Advisors LLC bought a new position in General Dynamics during the third quarter worth about $42,000. 86.14% of the stock is currently owned by institutional investors and hedge funds.

General Dynamics Stock Performance

Shares of NYSE GD opened at $284.41 on Monday. General Dynamics Co. has a 12 month low of $202.35 and a 12 month high of $296.50. The stock has a 50 day moving average of $280.86 and a 200-day moving average of $262.05. The company has a current ratio of 1.44, a quick ratio of 0.87 and a debt-to-equity ratio of 0.41. The company has a market capitalization of $78.03 billion, a P/E ratio of 23.20, a P/E/G ratio of 1.77 and a beta of 0.68.

General Dynamics (NYSE:GD) last announced its earnings results on Wednesday, April 24th. The aerospace company reported $2.88 EPS for the quarter, missing the consensus estimate of $2.89 by ($0.01). The company had revenue of $10.73 billion for the quarter, compared to the consensus estimate of $10.26 billion. General Dynamics had a return on equity of 16.48% and a net margin of 7.85%. The business’s quarterly revenue was up 8.6% on a year-over-year basis. During the same period in the previous year, the firm posted $2.64 EPS. As a group, equities research analysts predict that General Dynamics Co. will post 14.57 EPS for the current year.

General Dynamics Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 10th. Shareholders of record on Friday, April 12th will be issued a $1.42 dividend. The ex-dividend date is Thursday, April 11th. This is a boost from General Dynamics’s previous quarterly dividend of $1.32. This represents a $5.68 annualized dividend and a yield of 2.00%. General Dynamics’s payout ratio is currently 46.33%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on GD. UBS Group boosted their price objective on shares of General Dynamics from $286.00 to $296.00 and gave the stock a “neutral” rating in a research report on Monday, January 29th. Citigroup increased their price target on General Dynamics from $300.00 to $320.00 and gave the company a “buy” rating in a research note on Thursday. StockNews.com raised General Dynamics from a “buy” rating to a “strong-buy” rating in a research note on Thursday. JPMorgan Chase & Co. raised their target price on General Dynamics from $280.00 to $298.00 and gave the stock an “overweight” rating in a report on Thursday. Finally, Susquehanna increased their price target on shares of General Dynamics from $301.00 to $333.00 and gave the company a “positive” rating in a research report on Friday, April 12th. Four analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $296.20.

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.