Bard Financial Services Inc. Lowers Holdings in General Dynamics Co. (NYSE:GD)

Bard Financial Services Inc. trimmed its holdings in General Dynamics Co. (NYSE:GD) by 2.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 11,795 shares of the aerospace company’s stock after selling 250 shares during the quarter. Bard Financial Services Inc.’s holdings in General Dynamics were worth $3,215,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Rialto Wealth Management LLC boosted its stake in shares of General Dynamics by 213.8% during the 1st quarter. Rialto Wealth Management LLC now owns 91 shares of the aerospace company’s stock worth $25,000 after acquiring an additional 62 shares in the last quarter. Whipplewood Advisors LLC purchased a new position in General Dynamics during the fourth quarter worth approximately $26,000. Kohmann Bosshard Financial Services LLC purchased a new position in General Dynamics during the fourth quarter worth approximately $26,000. Copia Wealth Management acquired a new stake in shares of General Dynamics during the 4th quarter worth approximately $27,000. Finally, Hoey Investments Inc. acquired a new stake in shares of General Dynamics during the 4th quarter worth approximately $28,000. 86.14% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

GD has been the subject of several research reports. Cowen reiterated a “buy” rating on shares of General Dynamics in a report on Thursday, April 24th. UBS Group raised their price target on shares of General Dynamics from $268.00 to $279.00 and gave the company a “neutral” rating in a research report on Thursday, April 24th. BTIG Research cut shares of General Dynamics from a “buy” rating to a “neutral” rating in a research report on Thursday, February 13th. Susquehanna boosted their price target on shares of General Dynamics from $300.00 to $315.00 and gave the company a “positive” rating in a research report on Wednesday, April 2nd. Finally, Morgan Stanley reduced their price target on shares of General Dynamics from $305.00 to $300.00 and set an “equal weight” rating for the company in a research report on Thursday, April 24th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $293.00.

General Dynamics Stock Up 0.1%

GD stock opened at $277.52 on Wednesday. General Dynamics Co. has a 52 week low of $239.20 and a 52 week high of $316.90. The company has a market cap of $74.49 billion, a P/E ratio of 20.35, a P/E/G ratio of 1.69 and a beta of 0.46. The company has a current ratio of 1.37, a quick ratio of 0.82 and a debt-to-equity ratio of 0.33. The company’s 50-day moving average price is $272.88 and its 200 day moving average price is $266.57.

General Dynamics (NYSE:GD) last announced its quarterly earnings data on Wednesday, April 23rd. The aerospace company reported $3.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.43 by $0.23. The business had revenue of $12.22 billion for the quarter, compared to the consensus estimate of $11.92 billion. General Dynamics had a net margin of 7.93% and a return on equity of 17.10%. The company’s quarterly revenue was up 13.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.88 earnings per share. On average, research analysts expect that General Dynamics Co. will post 14.83 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, August 8th. Shareholders of record on Thursday, July 3rd will be paid a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a yield of 2.16%. The ex-dividend date of this dividend is Thursday, July 3rd. General Dynamics’s dividend payout ratio is currently 41.61%.

General Dynamics Company 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.