20,339 Shares in General Dynamics Co. (NYSE:GD) Acquired by Consolidated Planning Corp

Consolidated Planning Corp purchased a new stake in General Dynamics Co. (NYSE:GD - Free Report) in the 2nd quarter, according to its most recent filing with the SEC. The fund purchased 20,339 shares of the aerospace company's stock, valued at approximately $5,901,000.

Several other institutional investors also recently bought and sold shares of the business. Gilbert & Cook Inc. grew its stake in shares of General Dynamics by 5.1% during the 4th quarter. Gilbert & Cook Inc. now owns 2,509 shares of the aerospace company's stock valued at $652,000 after buying an additional 122 shares during the period. Vestmark Advisory Solutions Inc. purchased a new stake in shares of General Dynamics during the 4th quarter valued at $308,000. Spire Wealth Management grew its stake in shares of General Dynamics by 24.1% during the 4th quarter. Spire Wealth Management now owns 5,224 shares of the aerospace company's stock valued at $1,303,000 after buying an additional 1,014 shares during the period. Summit Trail Advisors LLC grew its stake in shares of General Dynamics by 12.2% during the 4th quarter. Summit Trail Advisors LLC now owns 1,531 shares of the aerospace company's stock valued at $398,000 after buying an additional 166 shares during the period. Finally, MeadowBrook Investment Advisors LLC purchased a new stake in shares of General Dynamics during the 4th quarter valued at $25,000. 86.14% of the stock is currently owned by institutional investors and hedge funds.

General Dynamics Stock Performance

GD traded down $0.57 on Wednesday, hitting $294.35. 711,401 shares of the company's stock were exchanged, compared to its average volume of 1,058,400. The firm has a market cap of $80.76 billion, a PE ratio of 24.01, a P/E/G ratio of 1.64 and a beta of 0.61. General Dynamics Co. has a twelve month low of $214.53 and a twelve month high of $302.75. The stock has a fifty day moving average of $290.65 and a two-hundred day moving average of $288.61. The company has a current ratio of 1.33, a quick ratio of 0.80 and a debt-to-equity ratio of 0.33.

General Dynamics (NYSE:GD - Get Free Report) last announced its quarterly earnings results on Wednesday, July 24th. The aerospace company reported $3.26 EPS 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 firm had revenue of $11.98 billion during the quarter, compared to analyst estimates of $11.46 billion. During the same quarter in the previous year, the business posted $2.70 EPS. General Dynamics's revenue for the quarter was up 18.0% compared to the same quarter last year. On average, research 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 disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 11th will be issued a $1.42 dividend. This represents a $5.68 annualized dividend and a dividend yield of 1.93%. The ex-dividend date is Friday, October 11th. General Dynamics's dividend payout ratio (DPR) is presently 46.33%.

Wall Street Analysts Forecast Growth

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

General Dynamics Company 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.