Burney Co. Trims Stake in General Dynamics Co. (NYSE:GD)

Burney Co. lowered its stake in shares of General Dynamics Co. (NYSE:GD - Free Report) by 7.1% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,613 shares of the aerospace company's stock after selling 1,185 shares during the period. Burney Co.'s holdings in General Dynamics were worth $4,530,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of GD. GUNN & Co INVESTMENT MANAGEMENT INC. purchased a new stake in General Dynamics during the 4th quarter valued at about $26,520,000. Headlands Technologies LLC boosted its holdings in General Dynamics by 1,261.1% in the 4th quarter. Headlands Technologies LLC now owns 735 shares of the aerospace company's stock valued at $191,000 after purchasing an additional 681 shares during the last quarter. Legacy Capital Wealth Partners LLC boosted its holdings in General Dynamics by 2.9% in the 4th quarter. Legacy Capital Wealth Partners LLC now owns 2,399 shares of the aerospace company's stock valued at $623,000 after purchasing an additional 67 shares during the last quarter. Silver Oak Securities Incorporated boosted its holdings in General Dynamics by 533.3% in the 4th quarter. Silver Oak Securities Incorporated now owns 1,197 shares of the aerospace company's stock valued at $311,000 after purchasing an additional 1,008 shares during the last quarter. Finally, Gilbert & Cook Inc. boosted its holdings in General Dynamics by 5.1% in the 4th quarter. Gilbert & Cook Inc. now owns 2,509 shares of the aerospace company's stock valued at $652,000 after purchasing an additional 122 shares during the last quarter. Hedge funds and other institutional investors own 86.14% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on GD shares. Wells Fargo & Company boosted their target price on shares of General Dynamics from $330.00 to $334.00 and gave the company an "overweight" rating in a report on Thursday, July 25th. Sanford C. Bernstein upped their price objective 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. Barclays upped their price objective on shares of 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 restated a "hold" rating on shares of General Dynamics in a report on Monday, July 29th. Finally, Morgan Stanley upgraded shares of General Dynamics from an "equal weight" rating to an "overweight" rating and upped their price objective for the stock from $293.00 to $345.00 in a report on Friday, August 9th. 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 a consensus rating of "Moderate Buy" and an average price target of $315.06.

General Dynamics Trading Up 0.4 %

GD stock traded up $1.19 during midday trading on Thursday, hitting $297.83. The stock had a trading volume of 1,634,965 shares, compared to its average volume of 1,060,482. The firm has a market cap of $81.71 billion, a PE ratio of 24.29, a price-to-earnings-growth ratio of 1.68 and a beta of 0.60. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.33 and a quick ratio of 0.80. General Dynamics Co. has a 12-month low of $214.53 and a 12-month high of $302.75. The company's 50-day moving average price is $290.65 and its 200 day moving average price is $287.63.

General Dynamics (NYSE:GD - Get Free Report) last announced its quarterly earnings results on Wednesday, July 24th. The aerospace company reported $3.26 earnings per share for the quarter, missing analysts' consensus estimates of $3.30 by ($0.04). The company had revenue of $11.98 billion during the quarter, compared to analyst estimates 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 quarter last year, the business earned $2.70 EPS. On average, equities research analysts predict that General Dynamics Co. will post 14.5 earnings per share 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. Stockholders of record on Friday, October 11th will be paid a $1.42 dividend. This represents a $5.68 dividend on an annualized basis and a dividend yield of 1.91%. The ex-dividend date of this dividend is Friday, October 11th. 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.