Diversify Wealth Management LLC Makes New $2.42 Million Investment in General Dynamics Co. (NYSE:GD)

Diversify Wealth Management LLC acquired a new stake in shares of General Dynamics Co. (NYSE:GD - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 8,446 shares of the aerospace company's stock, valued at approximately $2,415,000.

Several other institutional investors have also modified their holdings of GD. Redmont Wealth Advisors LLC bought a new stake in General Dynamics in the first quarter worth about $25,000. Richardson Financial Services Inc. bought a new stake in shares of General Dynamics during the fourth quarter worth $25,000. American Capital Advisory LLC purchased a new stake in shares of General Dynamics during the second quarter valued at $29,000. Financial Synergies Wealth Advisors Inc. purchased a new position in General Dynamics in the 1st quarter worth about $29,000. Finally, New Covenant Trust Company N.A. bought a new stake in General Dynamics during the 1st quarter valued at about $29,000. 86.14% of the stock is owned by institutional investors.

General Dynamics Stock Up 1.4 %

Shares of GD stock traded up $4.13 during trading hours on Friday, reaching $304.80. 797,557 shares of the company's stock were exchanged, compared to its average volume of 1,065,587. General Dynamics Co. has a 1 year low of $214.53 and a 1 year high of $306.51. The company has a current ratio of 1.33, a quick ratio of 0.80 and a debt-to-equity ratio of 0.33. The stock has a market cap of $83.63 billion, a PE ratio of 24.86, a PEG ratio of 1.64 and a beta of 0.61. The stock's fifty day moving average price is $292.48 and its two-hundred day moving average price is $290.09.

General Dynamics (NYSE:GD - Get Free Report) last released 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). The company had revenue of $11.98 billion for the quarter, compared to analysts' expectations of $11.46 billion. General Dynamics had a return on equity of 16.74% and a net margin of 7.89%. The firm's revenue for the quarter was up 18.0% on a year-over-year basis. During the same period in the prior year, the firm posted $2.70 EPS. Research analysts predict that General Dynamics Co. will post 14.52 EPS for the current year.

General Dynamics Announces Dividend

The company also recently disclosed 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 annualized dividend and a dividend yield of 1.86%. The ex-dividend date is Friday, October 11th. General Dynamics's payout ratio is 46.33%.

Analyst Ratings Changes

A number of brokerages have commented on GD. BTIG Research started coverage on shares of General Dynamics in a research note on Wednesday, June 26th. They issued a "buy" rating and a $345.00 target price on the stock. Robert W. Baird restated an "outperform" rating and set a $345.00 price objective on shares of General Dynamics in a report on Tuesday, July 2nd. Royal Bank of Canada reissued an "outperform" rating and set a $320.00 price target on shares of General Dynamics in a research report on Thursday, July 25th. Sanford C. Bernstein raised their price target on General Dynamics from $290.00 to $302.00 and gave the company a "market perform" rating in a research note on Thursday, May 23rd. 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 equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, General Dynamics has a consensus rating of "Moderate Buy" and an average 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.