General Dynamics Co. (NYSE:GD) Shares Bought by Essex Financial Services Inc.

Essex Financial Services Inc. increased its holdings in General Dynamics Co. (NYSE:GD - Free Report) by 35.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,272 shares of the aerospace company's stock after buying an additional 4,270 shares during the quarter. Essex Financial Services Inc.'s holdings in General Dynamics were worth $4,721,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Modera Wealth Management LLC boosted its position in General Dynamics by 0.4% during the second quarter. Modera Wealth Management LLC now owns 8,120 shares of the aerospace company's stock worth $2,356,000 after purchasing an additional 35 shares during the period. Legend Financial Advisors Inc. lifted its stake in shares of General Dynamics by 46.8% in the first quarter. Legend Financial Advisors Inc. now owns 113 shares of the aerospace company's stock worth $32,000 after buying an additional 36 shares during the last quarter. Diversified Trust Co boosted its holdings 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 buying an additional 36 shares during the period. Fulton Bank N.A. raised its holdings in General Dynamics by 1.1% in 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 during the period. Finally, Copperwynd Financial LLC raised its holdings 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 acquiring an additional 38 shares during the period. 86.14% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have commented on GD shares. BTIG Research initiated coverage on General Dynamics in a research report on Wednesday, June 26th. They issued a "buy" rating and a $345.00 price target on the stock. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating on shares of General Dynamics in a research note on Monday, July 29th. Robert W. Baird restated an "outperform" rating and issued a $345.00 price target on shares of General Dynamics in a research report on Tuesday, July 2nd. Wells Fargo & Company upped their price objective on shares of General Dynamics from $330.00 to $334.00 and gave the company an "overweight" rating in a research report on Thursday, July 25th. Finally, Barclays boosted their price target on General Dynamics from $310.00 to $325.00 and gave the company an "overweight" rating in a research note on Tuesday, July 30th. Six research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $315.06.

General Dynamics Price Performance

GD traded up $1.53 during midday trading on Friday, hitting $299.36. The company had a trading volume of 1,033,038 shares, compared to its average volume of 1,060,318. General Dynamics Co. has a twelve month low of $214.53 and a twelve month high of $302.75. The company has a market capitalization of $82.13 billion, a PE ratio of 24.42, a P/E/G ratio of 1.68 and a beta of 0.60. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.80 and a current ratio of 1.33. The firm's 50-day simple moving average is $290.64 and its 200-day simple moving average is $287.91.

General Dynamics (NYSE:GD - Get Free Report) last announced its quarterly earnings data on Wednesday, July 24th. The aerospace company reported $3.26 EPS for the quarter, missing analysts' consensus estimates of $3.30 by ($0.04). The firm had revenue of $11.98 billion during 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 quarterly revenue was up 18.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.70 earnings per share. Equities research analysts predict that General Dynamics Co. will post 14.5 EPS for the current fiscal year.

General Dynamics Dividend Announcement

The firm 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 $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 1.90%. General Dynamics's payout ratio is presently 46.33%.

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.

Want to see what other hedge funds are holding GD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for General Dynamics Co. (NYSE:GD - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.