Capstone Wealth Management Group LLC Lowers Holdings in General Dynamics Co. (NYSE:GD)

Capstone Wealth Management Group LLC lowered its stake in shares of General Dynamics Co. (NYSE:GD) by 3.1% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 1,390 shares of the aerospace company’s stock after selling 45 shares during the period. Capstone Wealth Management Group LLC’s holdings in General Dynamics were worth $403,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Redmont Wealth Advisors LLC purchased a new stake in General Dynamics during the first quarter worth $25,000. Richardson Financial Services Inc. acquired a new position in shares of General Dynamics in the fourth quarter worth about $25,000. American Capital Advisory LLC acquired a new position in shares of General Dynamics in the second quarter worth about $29,000. Financial Synergies Wealth Advisors Inc. purchased a new stake in shares of General Dynamics during the 1st quarter worth about $29,000. Finally, New Covenant Trust Company N.A. acquired a new stake in shares of General Dynamics during the 1st quarter valued at about $29,000. Institutional investors and hedge funds own 86.14% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on GD. Robert W. Baird reiterated an “outperform” rating and set a $345.00 price target on shares of General Dynamics in a research report on Tuesday, July 2nd. Royal Bank of Canada reiterated an “outperform” rating and set a $320.00 target price on shares of General Dynamics in a research report on Thursday, July 25th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of General Dynamics in a report on Monday, July 29th. Sanford C. Bernstein increased their price objective 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. Finally, Barclays lifted their target price on shares of General Dynamics from $310.00 to $325.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. Six investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $315.06.

General Dynamics Stock Up 0.9 %

Shares of GD opened at $307.56 on Tuesday. The stock has a fifty day simple moving average of $293.02 and a two-hundred day simple moving average of $290.34. The company has a quick ratio of 0.80, a current ratio of 1.33 and a debt-to-equity ratio of 0.33. The company has a market capitalization of $84.38 billion, a PE ratio of 25.09, a price-to-earnings-growth ratio of 1.64 and a beta of 0.61. General Dynamics Co. has a 52-week low of $214.53 and a 52-week high of $309.97.

General Dynamics (NYSE:GD) last released its quarterly earnings data 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 firm had revenue of $11.98 billion for the quarter, compared to analyst estimates of $11.46 billion. General Dynamics had a return on equity of 16.74% and a net margin of 7.89%. General Dynamics’s revenue for the quarter 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. As a group, equities analysts forecast that General Dynamics Co. will post 14.52 EPS for the current year.

General Dynamics Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, October 11th will be issued a $1.42 dividend. This represents a $5.68 dividend on an annualized basis and a yield of 1.85%. The ex-dividend date of this dividend is Friday, October 11th. General Dynamics’s dividend 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.