Burney Co. Decreases Stock Holdings in General Dynamics Co. (NYSE:GD)

Burney Co. reduced its position in shares of General Dynamics Co. (NYSE:GD) by 7.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 15,613 shares of the aerospace company’s stock after selling 1,185 shares during the period. Burney Co.’s holdings in General Dynamics were worth $4,530,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. GUNN & Co INVESTMENT MANAGEMENT INC. purchased a new stake in General Dynamics in the fourth quarter valued at $26,520,000. Headlands Technologies LLC lifted its position in General Dynamics by 1,261.1% in the fourth quarter. Headlands Technologies LLC now owns 735 shares of the aerospace company’s stock valued at $191,000 after acquiring an additional 681 shares during the last quarter. Legacy Capital Wealth Partners LLC lifted its position in General Dynamics by 2.9% in the fourth quarter. Legacy Capital Wealth Partners LLC now owns 2,399 shares of the aerospace company’s stock valued at $623,000 after acquiring an additional 67 shares during the last quarter. Silver Oak Securities Incorporated lifted its position in General Dynamics by 533.3% in the fourth quarter. Silver Oak Securities Incorporated now owns 1,197 shares of the aerospace company’s stock valued at $311,000 after acquiring an additional 1,008 shares during the last quarter. Finally, Gilbert & Cook Inc. lifted its position in General Dynamics by 5.1% in the fourth quarter. Gilbert & Cook Inc. now owns 2,509 shares of the aerospace company’s stock valued at $652,000 after acquiring an additional 122 shares during the last quarter. 86.14% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. StockNews.com cut shares of General Dynamics from a “strong-buy” rating to a “buy” rating in a report on Friday, May 3rd. Barclays upped their target price on shares of General Dynamics from $310.00 to $325.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $320.00 target price on shares of General Dynamics in a report on Thursday, July 25th. Sanford C. Bernstein upped their target price 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, Wells Fargo & Company upped their target price on shares of General Dynamics from $330.00 to $334.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Six investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $315.06.

General Dynamics Price Performance

GD traded up $1.73 on Thursday, hitting $298.37. 905,837 shares of the company were exchanged, compared to its average volume of 1,055,881. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.80 and a current ratio of 1.33. The business’s fifty day moving average is $290.68 and its 200 day moving average is $287.56. General Dynamics Co. has a fifty-two week low of $214.53 and a fifty-two week high of $302.75. The firm has a market capitalization of $81.86 billion, a P/E ratio of 24.40, a price-to-earnings-growth ratio of 1.68 and a beta of 0.60.

General Dynamics (NYSE:GD) last issued 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). 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 for the quarter, compared to analyst estimates of $11.46 billion. During the same quarter in the previous year, the company posted $2.70 earnings per share. The company’s quarterly revenue was up 18.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that General Dynamics Co. will post 14.5 EPS for the current year.

General Dynamics Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, October 11th will be given a dividend of $1.42 per share. The ex-dividend date is Friday, October 11th. This represents a $5.68 annualized dividend and a yield of 1.90%. General Dynamics’s payout ratio is currently 46.33%.

General Dynamics 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.