General Dynamics Co. (NYSE:GD) Shares Sold by Pekin Hardy Strauss Inc.

Pekin Hardy Strauss Inc. lowered its stake in shares of General Dynamics Co. (NYSE:GD) by 2.1% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,319 shares of the aerospace company’s stock after selling 50 shares during the quarter. Pekin Hardy Strauss Inc.’s holdings in General Dynamics were worth $673,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Richardson Financial Services Inc. acquired a new stake in shares of General Dynamics in the 4th quarter valued at about $25,000. Redmont Wealth Advisors LLC acquired a new stake in shares of General Dynamics in the first quarter valued at approximately $25,000. Financial Synergies Wealth Advisors Inc. purchased a new position in shares of General Dynamics during the first quarter worth approximately $29,000. New Covenant Trust Company N.A. acquired a new position in shares of General Dynamics in the 1st quarter valued at $29,000. Finally, American Capital Advisory LLC purchased a new stake in General Dynamics in the 2nd quarter valued at $29,000. Hedge funds and other institutional investors own 86.14% of the company’s stock.

Analyst Upgrades and Downgrades

GD has been the topic of several research reports. Sanford C. Bernstein raised their price objective on shares of General Dynamics from $290.00 to $302.00 and gave the stock a “market perform” rating in a research report on Thursday, May 23rd. Wells Fargo & Company raised their price target on General Dynamics from $330.00 to $334.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $320.00 price objective on shares of General Dynamics in a research note on Thursday, July 25th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of General Dynamics in a research note on Monday, July 29th. Finally, Barclays upped their price target on General Dynamics from $310.00 to $325.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. Six equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $315.06.

General Dynamics Stock Down 1.2 %

GD opened at $303.85 on Wednesday. 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 firm has a market cap of $83.37 billion, a P/E ratio of 24.78, a PEG 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. The business’s fifty day simple moving average is $293.51 and its 200 day simple moving average is $290.56.

General Dynamics (NYSE:GD) last posted 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 company had revenue of $11.98 billion for 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 was up 18.0% on a year-over-year basis. During the same period in the previous year, the business earned $2.70 EPS. As a group, equities research analysts anticipate that General Dynamics Co. will post 14.52 EPS for the current fiscal year.

General Dynamics Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, October 11th will be paid a dividend of $1.42 per share. This represents a $5.68 dividend on an annualized basis and a dividend yield of 1.87%. The ex-dividend date of this dividend is Friday, October 11th. General Dynamics’s payout ratio is currently 46.33%.

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.