Wealthcare Advisory Partners LLC Increases Stock Holdings in General Dynamics Co. (NYSE:GD)

Wealthcare Advisory Partners LLC grew its position in General Dynamics Co. (NYSE:GD) by 5.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,523 shares of the aerospace company’s stock after buying an additional 133 shares during the quarter. Wealthcare Advisory Partners LLC’s holdings in General Dynamics were worth $688,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Olstein Capital Management L.P. grew its holdings in shares of General Dynamics by 15.8% during the 1st quarter. Olstein Capital Management L.P. now owns 33,000 shares of the aerospace company’s stock worth $8,995,000 after purchasing an additional 4,500 shares during the period. Midland Wealth Advisors LLC raised its position in shares of General Dynamics by 3.4% in the 1st quarter. Midland Wealth Advisors LLC now owns 2,584 shares of the aerospace company’s stock valued at $704,000 after purchasing an additional 84 shares in the last quarter. Pallas Capital Advisors LLC acquired a new position in shares of General Dynamics in the 1st quarter valued at approximately $267,000. Farther Finance Advisors LLC raised its position in shares of General Dynamics by 8.4% in the 1st quarter. Farther Finance Advisors LLC now owns 15,096 shares of the aerospace company’s stock valued at $4,139,000 after purchasing an additional 1,175 shares in the last quarter. Finally, City Holding Co. raised its position in shares of General Dynamics by 9.4% in the 1st quarter. City Holding Co. now owns 920 shares of the aerospace company’s stock valued at $251,000 after purchasing an additional 79 shares in the last quarter. Hedge funds and other institutional investors own 86.14% of the company’s stock.

General Dynamics Stock Up 1.1%

GD stock opened at $282.95 on Friday. The business has a 50-day moving average of $274.62 and a 200-day moving average of $266.63. General Dynamics Co. has a fifty-two week low of $239.20 and a fifty-two week high of $316.90. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.37 and a quick ratio of 0.82. The stock has a market capitalization of $75.94 billion, a P/E ratio of 20.74, a P/E/G ratio of 1.69 and a beta of 0.46.

General Dynamics (NYSE:GD) last issued its quarterly earnings results on Wednesday, April 23rd. The aerospace company reported $3.66 EPS for the quarter, beating the consensus estimate of $3.43 by $0.23. The firm had revenue of $12.22 billion during the quarter, compared to analysts’ expectations of $11.92 billion. General Dynamics had a return on equity of 17.10% and a net margin of 7.93%. The business’s quarterly revenue was up 13.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.88 earnings per share. On average, sell-side analysts anticipate that General Dynamics Co. will post 14.83 earnings per share for the current fiscal year.

General Dynamics Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 8th. Shareholders of record on Thursday, July 3rd will be issued a $1.50 dividend. The ex-dividend date is Thursday, July 3rd. This represents a $6.00 annualized dividend and a yield of 2.12%. General Dynamics’s dividend payout ratio is presently 41.61%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on GD. Wells Fargo & Company dropped their target price on 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. TD Securities lifted their target price on General Dynamics from $275.00 to $290.00 and gave the stock a “buy” rating in a report on Thursday, April 24th. Argus set a $295.00 target price on General Dynamics in a report on Tuesday, May 6th. Citigroup decreased their price target on General Dynamics from $335.00 to $330.00 and set a “buy” rating for the company in a research report on Thursday, April 10th. Finally, William Blair lowered General Dynamics from an “outperform” rating to a “market perform” rating in a research report on Friday, February 21st. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average 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.