FSB Premier Wealth Management Inc. Buys 678 Shares of General Dynamics Co. (NYSE:GD)

FSB Premier Wealth Management Inc. increased its stake in General Dynamics Co. (NYSE:GD) by 16.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,877 shares of the aerospace company’s stock after buying an additional 678 shares during the period. FSB Premier Wealth Management Inc.’s holdings in General Dynamics were worth $1,415,000 at the end of the most recent reporting period.

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

General Dynamics Stock Down 1.5 %

GD stock opened at $294.92 on Wednesday. General Dynamics Co. has a fifty-two week low of $214.53 and a fifty-two week high of $302.75. The company has a market cap of $81.04 billion, a price-to-earnings ratio of 24.06, a P/E/G ratio of 1.64 and a beta of 0.60. 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 50-day moving average is $290.65 and its two-hundred day moving average is $288.57.

General Dynamics (NYSE:GD) last announced its earnings results on Wednesday, July 24th. The aerospace company reported $3.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.30 by ($0.04). General Dynamics had a net margin of 7.89% and a return on equity of 16.74%. The business had revenue of $11.98 billion for the quarter, compared to the consensus estimate of $11.46 billion. During the same quarter last year, the firm posted $2.70 earnings per share. The business’s quarterly revenue was up 18.0% compared to the same quarter last year. As a group, analysts forecast that General Dynamics Co. will post 14.52 earnings per share for the current 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 issued a dividend of $1.42 per share. This represents a $5.68 annualized dividend and a yield of 1.93%. The ex-dividend date is Friday, October 11th. General Dynamics’s dividend payout ratio is presently 46.33%.

Analyst Ratings Changes

A number of brokerages have issued reports on GD. Barclays lifted their price objective on General Dynamics from $310.00 to $325.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. 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 price target on the stock. Sanford C. Bernstein increased their price objective on shares of General Dynamics from $290.00 to $302.00 and gave the company a “market perform” rating in a research report on Thursday, May 23rd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $320.00 target price on shares of General Dynamics in a report on Thursday, July 25th. Finally, Robert W. Baird reissued an “outperform” rating and set a $345.00 price target on shares of General Dynamics in a research report on Tuesday, July 2nd. Six equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, General Dynamics has a consensus rating of “Moderate Buy” and a consensus target price of $315.06.

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.