Deseret Mutual Benefit Administrators Has $187,000 Stake in General Dynamics Co. (NYSE:GD)

Deseret Mutual Benefit Administrators lifted its stake in shares of General Dynamics Co. (NYSE:GD) by 26.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 646 shares of the aerospace company’s stock after buying an additional 137 shares during the period. Deseret Mutual Benefit Administrators’ holdings in General Dynamics were worth $187,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Redmont Wealth Advisors LLC purchased a new position in General Dynamics in the first quarter worth $25,000. Richardson Financial Services Inc. bought a new position in General Dynamics during the fourth quarter valued at about $25,000. American Capital Advisory LLC purchased a new stake in General Dynamics during the second quarter worth about $29,000. Financial Synergies Wealth Advisors Inc. bought a new stake in General Dynamics in the first quarter worth about $29,000. Finally, New Covenant Trust Company N.A. bought a new position in shares of General Dynamics during the 1st quarter valued at approximately $29,000. 86.14% of the stock is owned by hedge funds and other institutional investors.

General Dynamics Price Performance

Shares of NYSE GD traded up $0.67 during mid-day trading on Thursday, reaching $295.02. 234,605 shares of the company were exchanged, compared to its average volume of 1,053,159. The stock has a market capitalization of $80.94 billion, a PE ratio of 24.01, a PEG ratio of 1.64 and a beta of 0.61. The company has a quick ratio of 0.80, a current ratio of 1.33 and a debt-to-equity ratio of 0.33. General Dynamics Co. has a 52 week low of $214.53 and a 52 week high of $302.75. The company’s 50 day moving average price is $290.65 and its 200 day moving average price is $288.61.

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

General Dynamics Dividend Announcement

The business also recently declared 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 of this dividend is Friday, October 11th. This represents a $5.68 dividend on an annualized basis and a yield of 1.93%. General Dynamics’s dividend payout ratio (DPR) is currently 46.33%.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of General Dynamics in a research note on Monday, July 29th. BTIG Research initiated coverage on General Dynamics in a research note on Wednesday, June 26th. They set a “buy” rating and a $345.00 price target for the company. Robert W. Baird restated an “outperform” rating and issued a $345.00 price objective on shares of General Dynamics in a research note on Tuesday, July 2nd. 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, Royal Bank of Canada reissued an “outperform” rating and issued a $320.00 price target on shares of General Dynamics in a research report on Thursday, July 25th. Six analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $315.06.

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.