Oak Thistle LLC Invests $407,000 in General Dynamics Co. (NYSE:GD)

Oak Thistle LLC acquired a new position in shares of General Dynamics Co. (NYSE:GD) in the 2nd quarter, HoldingsChannel reports. The institutional investor acquired 1,403 shares of the aerospace company’s stock, valued at approximately $407,000.

Several other large investors have also modified their holdings of the stock. Modera Wealth Management LLC boosted its stake in shares of General Dynamics by 0.4% during the 2nd quarter. Modera Wealth Management LLC now owns 8,120 shares of the aerospace company’s stock worth $2,356,000 after acquiring an additional 35 shares in the last quarter. Legend Financial Advisors Inc. boosted its stake in shares of General Dynamics by 46.8% during the 1st quarter. Legend Financial Advisors Inc. now owns 113 shares of the aerospace company’s stock worth $32,000 after acquiring an additional 36 shares in the last quarter. Diversified Trust Co boosted its stake in shares of General Dynamics by 2.5% during the 1st quarter. Diversified Trust Co now owns 1,503 shares of the aerospace company’s stock worth $425,000 after acquiring an additional 36 shares in the last quarter. Fulton Bank N.A. boosted its stake in shares of General Dynamics by 1.1% during the 1st quarter. Fulton Bank N.A. now owns 3,299 shares of the aerospace company’s stock worth $932,000 after acquiring an additional 37 shares in the last quarter. Finally, Copperwynd Financial LLC boosted its stake in shares of General Dynamics by 3.7% during the 4th quarter. Copperwynd Financial LLC now owns 1,056 shares of the aerospace company’s stock worth $274,000 after acquiring an additional 38 shares in the last quarter. 86.14% of the stock is owned by institutional investors.

General Dynamics Price Performance

NYSE GD opened at $301.56 on Tuesday. General Dynamics Co. has a fifty-two week low of $214.53 and a fifty-two week high of $303.10. The stock’s 50-day moving average is $291.07 and its two-hundred day moving average is $289.30. 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 firm has a market cap of $82.86 billion, a P/E ratio of 24.60, a price-to-earnings-growth ratio of 1.60 and a beta of 0.61.

General Dynamics (NYSE:GD) last posted its earnings results on Wednesday, July 24th. The aerospace company reported $3.26 earnings per share 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 company 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 business earned $2.70 earnings per share. General Dynamics’s quarterly revenue was up 18.0% on a year-over-year basis. On average, analysts anticipate that General Dynamics Co. will post 14.52 earnings per share for the current fiscal year.

General Dynamics Dividend Announcement

The business also recently announced 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. The ex-dividend date is Friday, October 11th. This represents a $5.68 annualized dividend and a yield of 1.88%. General Dynamics’s dividend payout ratio (DPR) is currently 46.33%.

Wall Street Analyst Weigh In

Several analysts have recently commented on GD shares. Morgan Stanley raised General Dynamics from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $293.00 to $345.00 in a research report on Friday, August 9th. Wells Fargo & Company raised their target price on General Dynamics from $330.00 to $334.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. Barclays raised their target price on General Dynamics from $310.00 to $325.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $320.00 target price on shares of General Dynamics in a research report on Thursday, July 25th. Finally, Robert W. Baird reaffirmed an “outperform” rating and issued a $345.00 target price on shares of General Dynamics in a research report on Tuesday, July 2nd. Six investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, General Dynamics currently has an average 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.