Lane & Associates LLC Acquires 137 Shares of General Dynamics Co. (NYSE:GD)

Lane & Associates LLC increased its stake in shares of General Dynamics Co. (NYSE:GD) by 9.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,655 shares of the aerospace company’s stock after buying an additional 137 shares during the period. Lane & Associates LLC’s holdings in General Dynamics were worth $480,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Richardson Financial Services Inc. bought a new stake in shares of General Dynamics during the fourth quarter worth $25,000. Redmont Wealth Advisors LLC acquired a new stake in General Dynamics in the first quarter worth about $25,000. Financial Synergies Wealth Advisors Inc. bought a new stake in General Dynamics during the 1st quarter worth about $29,000. New Covenant Trust Company N.A. acquired a new position in General Dynamics during the 1st quarter valued at about $29,000. Finally, American Capital Advisory LLC bought a new position in shares of General Dynamics in the 2nd quarter valued at about $29,000. Institutional investors own 86.14% of the company’s stock.

General Dynamics Stock Performance

Shares of GD opened at $301.56 on Tuesday. The firm’s 50 day moving average price is $291.07 and its two-hundred day moving average price is $289.30. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.80 and a current ratio of 1.33. General Dynamics Co. has a twelve month low of $214.53 and a twelve month high of $303.10. The firm has a market cap of $82.86 billion, a P/E ratio of 24.60, a PEG ratio of 1.60 and a beta of 0.61.

General Dynamics (NYSE:GD) last announced its earnings results on Wednesday, July 24th. The aerospace company reported $3.26 earnings per share for the quarter, missing analysts’ consensus estimates of $3.30 by ($0.04). General Dynamics had a return on equity of 16.74% and a net margin of 7.89%. The company had revenue of $11.98 billion during the quarter, compared to analyst estimates of $11.46 billion. During the same period in the previous year, the company posted $2.70 earnings per share. General Dynamics’s revenue for the quarter was up 18.0% on a year-over-year basis. On average, analysts forecast that General Dynamics Co. will post 14.52 EPS for the current fiscal year.

General Dynamics Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, October 11th will be given a $1.42 dividend. This represents a $5.68 dividend on an annualized basis and a yield of 1.88%. The ex-dividend date of this dividend is Friday, October 11th. General Dynamics’s dividend payout ratio is presently 46.33%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on GD shares. Sanford C. Bernstein boosted their price target on shares of General Dynamics from $290.00 to $302.00 and gave the stock a “market perform” rating in a research note on Thursday, May 23rd. Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of General Dynamics in a research note on Monday, July 29th. Robert W. Baird reaffirmed an “outperform” rating and set a $345.00 price objective on shares of General Dynamics in a research note on Tuesday, July 2nd. BTIG Research initiated coverage on General Dynamics in a report on Wednesday, June 26th. They issued a “buy” rating and a $345.00 price objective for the company. Finally, Wells Fargo & Company raised their target price on General Dynamics from $330.00 to $334.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. Six research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target 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.