Miracle Mile Advisors LLC Grows Position in General Dynamics Co. (NYSE:GD)

Miracle Mile Advisors LLC raised its stake in General Dynamics Co. (NYSE:GD) by 3.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,605 shares of the aerospace company’s stock after buying an additional 92 shares during the quarter. Miracle Mile Advisors LLC’s holdings in General Dynamics were worth $710,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. Rialto Wealth Management LLC lifted its holdings in shares of General Dynamics by 213.8% in 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 during the last quarter. Whipplewood Advisors LLC purchased a new stake in General Dynamics in the fourth quarter valued at approximately $26,000. Kohmann Bosshard Financial Services LLC acquired a new position in General Dynamics during the fourth quarter worth $26,000. Copia Wealth Management purchased a new position in shares of General Dynamics during the fourth quarter worth $27,000. Finally, Hoey Investments Inc. acquired a new stake in shares of General Dynamics in the fourth quarter valued at $28,000. Institutional investors and hedge funds own 86.14% of the company’s stock.

General Dynamics Stock Performance

Shares of GD opened at $277.52 on Wednesday. The company has a market capitalization of $74.49 billion, a price-to-earnings ratio of 20.35, a price-to-earnings-growth ratio of 1.69 and a beta of 0.46. General Dynamics Co. has a 52-week low of $239.20 and a 52-week high of $316.90. The company has a quick ratio of 0.82, a current ratio of 1.37 and a debt-to-equity ratio of 0.33. The stock has a 50 day moving average price of $272.88 and a 200 day moving average price of $266.57.

General Dynamics (NYSE:GD) last issued its earnings results 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. General Dynamics had a net margin of 7.93% and a return on equity of 17.10%. The business had revenue of $12.22 billion during the quarter, compared to analysts’ expectations of $11.92 billion. During the same quarter in the prior year, the business posted $2.88 EPS. The company’s revenue for the quarter was up 13.9% on a year-over-year basis. Research analysts predict that General Dynamics Co. will post 14.83 EPS for the current fiscal year.

General Dynamics Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 8th. Investors 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 is Thursday, July 3rd. General Dynamics’s dividend payout ratio is currently 41.61%.

Wall Street Analysts Forecast Growth

GD has been the topic of several research reports. Morgan Stanley decreased their target price on General Dynamics from $305.00 to $300.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 24th. Wells Fargo & Company reduced their price target on shares of General Dynamics from $261.00 to $236.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 8th. William Blair cut shares of General Dynamics from an “outperform” rating to a “market perform” rating in a report on Friday, February 21st. UBS Group increased their target price on shares of General Dynamics from $268.00 to $279.00 and gave the stock a “neutral” rating in a report on Thursday, April 24th. Finally, Argus set a $295.00 price target on shares of General Dynamics in a research note on Tuesday, May 6th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $293.00.

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.