Choreo LLC Purchases 6,353 Shares of General Dynamics Co. (NYSE:GD)

Choreo LLC lifted its position in General Dynamics Co. (NYSE:GD) by 773.8% in the second quarter, Holdings Channel.com reports. The firm owned 7,174 shares of the aerospace company’s stock after purchasing an additional 6,353 shares during the quarter. Choreo LLC’s holdings in General Dynamics were worth $2,066,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Modera Wealth Management LLC increased its holdings in General Dynamics by 0.4% in the 2nd quarter. Modera Wealth Management LLC now owns 8,120 shares of the aerospace company’s stock worth $2,356,000 after buying an additional 35 shares in the last quarter. Legend Financial Advisors Inc. raised its holdings in shares of General Dynamics by 46.8% during the first quarter. Legend Financial Advisors Inc. now owns 113 shares of the aerospace company’s stock valued at $32,000 after purchasing an additional 36 shares during the last quarter. Diversified Trust Co lifted its position in General Dynamics by 2.5% during the first quarter. Diversified Trust Co now owns 1,503 shares of the aerospace company’s stock valued at $425,000 after purchasing an additional 36 shares during the period. Fulton Bank N.A. boosted its holdings in General Dynamics by 1.1% in the first quarter. Fulton Bank N.A. now owns 3,299 shares of the aerospace company’s stock worth $932,000 after purchasing an additional 37 shares during the last quarter. Finally, Copperwynd Financial LLC grew its position in General Dynamics by 3.7% in the 4th quarter. Copperwynd Financial LLC now owns 1,056 shares of the aerospace company’s stock worth $274,000 after purchasing an additional 38 shares during the period. 86.14% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

GD has been the topic of several research analyst reports. Barclays increased their price target on General Dynamics from $310.00 to $325.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. Royal Bank of Canada reissued an “outperform” rating and issued a $320.00 target price on shares of General Dynamics in a research report on Thursday, July 25th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of General Dynamics in a research report on Monday, July 29th. 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 report on Thursday, July 25th. Finally, Sanford C. Bernstein upped their target price on shares of General Dynamics from $290.00 to $302.00 and gave the company a “market perform” rating in a report on Thursday, May 23rd. Six equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, General Dynamics has an average rating of “Moderate Buy” and an average target price of $315.06.

General Dynamics Trading Up 0.3 %

Shares of GD stock opened at $302.44 on Wednesday. The stock has a fifty day simple moving average of $291.40 and a two-hundred day simple moving average of $289.50. General Dynamics Co. has a 52-week low of $214.53 and a 52-week high of $306.51. The firm has a market capitalization of $83.10 billion, a PE ratio of 24.67, a PEG ratio of 1.60 and a beta of 0.61. 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 issued its earnings results on Wednesday, July 24th. The aerospace company reported $3.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.30 by ($0.04). The business had revenue of $11.98 billion for the quarter, compared to the consensus estimate of $11.46 billion. General Dynamics had a net margin of 7.89% and a return on equity of 16.74%. The firm’s revenue for the quarter was up 18.0% compared to the same quarter last year. During the same period last year, the business posted $2.70 EPS. On average, analysts predict that General Dynamics Co. will post 14.52 EPS for the current fiscal year.

General Dynamics Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, October 11th will be issued a $1.42 dividend. The ex-dividend date of this dividend is Friday, October 11th. This represents a $5.68 dividend on an annualized basis and a yield of 1.88%. General Dynamics’s dividend payout ratio is currently 46.33%.

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.