Axxcess Wealth Management LLC Has $2.80 Million Position in General Dynamics Co. (NYSE:GD)

Axxcess Wealth Management LLC grew its stake in General Dynamics Co. (NYSE:GD) by 4.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,664 shares of the aerospace company’s stock after buying an additional 391 shares during the period. Axxcess Wealth Management LLC’s holdings in General Dynamics were worth $2,804,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Richardson Financial Services Inc. bought a new stake in General Dynamics in the fourth quarter valued at approximately $25,000. Redmont Wealth Advisors LLC acquired a new position in shares of General Dynamics in the 1st quarter worth approximately $25,000. Financial Synergies Wealth Advisors Inc. bought a new stake in shares of General Dynamics in the 1st quarter valued at $29,000. New Covenant Trust Company N.A. acquired a new stake in shares of General Dynamics during the first quarter worth $29,000. Finally, American Capital Advisory LLC bought a new position in General Dynamics during the second quarter worth $29,000. 86.14% of the stock is currently owned by institutional investors.

General Dynamics Trading Down 1.2 %

GD opened at $303.85 on Wednesday. General Dynamics Co. has a fifty-two week low of $214.53 and a fifty-two week high of $309.97. The firm has a market capitalization of $83.37 billion, a PE ratio of 24.78, a P/E/G ratio of 1.64 and a beta of 0.61. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.33 and a quick ratio of 0.80. The company’s 50-day moving average is $293.51 and its 200 day moving average is $290.56.

General Dynamics (NYSE:GD) last issued its quarterly earnings data on Wednesday, July 24th. The aerospace company reported $3.26 EPS for the quarter, missing the consensus estimate of $3.30 by ($0.04). The company had revenue of $11.98 billion during the quarter, compared to analysts’ expectations of $11.46 billion. General Dynamics had a return on equity of 16.74% and a net margin of 7.89%. The business’s revenue for the quarter was up 18.0% compared to the same quarter last year. During the same period last year, the company earned $2.70 earnings per share. As a group, research analysts predict that General Dynamics Co. will post 14.52 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, November 15th. Shareholders of record on Friday, October 11th will be paid a dividend of $1.42 per share. This represents a $5.68 annualized dividend and a yield of 1.87%. The ex-dividend date of this dividend is Friday, October 11th. General Dynamics’s dividend payout ratio (DPR) is presently 46.33%.

Analyst Ratings Changes

A number of brokerages have weighed in on GD. Barclays increased their price target on General Dynamics from $310.00 to $325.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft reaffirmed 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 issued a “buy” rating and a $345.00 price target on the stock. Wells Fargo & Company raised their price objective 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 reiterated an “outperform” rating and set a $320.00 target price 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 issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target 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.