Denali Advisors LLC Reduces Stock Holdings in General Dynamics Co. (NYSE:GD)

Denali Advisors LLC lessened its stake in shares of General Dynamics Co. (NYSE:GD) by 5.9% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 1,600 shares of the aerospace company’s stock after selling 100 shares during the period. Denali Advisors LLC’s holdings in General Dynamics were worth $464,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of GD. Redmont Wealth Advisors LLC purchased a new position in shares of General Dynamics during the first quarter valued at approximately $25,000. Richardson Financial Services Inc. bought a new stake in shares of General Dynamics during the 4th quarter worth approximately $25,000. American Capital Advisory LLC purchased a new position in General Dynamics during the 2nd quarter valued at $29,000. Financial Synergies Wealth Advisors Inc. bought a new position in General Dynamics in the 1st quarter valued at $29,000. Finally, New Covenant Trust Company N.A. purchased a new stake in General Dynamics in the first quarter worth $29,000. 86.14% of the stock is currently owned by institutional investors.

General Dynamics Stock Performance

Shares of General Dynamics stock opened at $303.85 on Wednesday. The company 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 50-day simple moving average of $293.51 and a two-hundred day simple moving average of $290.56. General Dynamics Co. has a one year low of $214.53 and a one year high of $309.97. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.80 and a current ratio of 1.33.

General Dynamics (NYSE:GD) last posted 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 firm had revenue of $11.98 billion for the quarter, compared to the consensus estimate of $11.46 billion. General Dynamics had a return on equity of 16.74% and a net margin of 7.89%. The company’s revenue was up 18.0% compared to the same quarter last year. During the same quarter last year, the firm earned $2.70 EPS. Research analysts expect that General Dynamics Co. will post 14.52 EPS for the current fiscal year.

General Dynamics Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, October 11th will be paid a dividend of $1.42 per share. The ex-dividend date of this dividend is Friday, October 11th. This represents a $5.68 annualized dividend and a yield of 1.87%. General Dynamics’s dividend payout ratio (DPR) is 46.33%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on GD. Sanford C. Bernstein upped their price target on shares of General Dynamics from $290.00 to $302.00 and gave the stock a “market perform” rating in a report on Thursday, May 23rd. Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of General Dynamics in a research note on Monday, July 29th. Morgan Stanley raised shares of General Dynamics from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $293.00 to $345.00 in a research note on Friday, August 9th. Royal Bank of Canada reissued an “outperform” rating and issued a $320.00 price objective on shares of General Dynamics in a research note on Thursday, July 25th. Finally, Barclays lifted their target price on General Dynamics from $310.00 to $325.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. Six research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target 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.