Journey Advisory Group LLC Has $477,000 Stock Holdings in General Dynamics Co. (NYSE:GD)

Journey Advisory Group LLC reduced its holdings in General Dynamics Co. (NYSE:GD) by 2.5% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 1,644 shares of the aerospace company’s stock after selling 43 shares during the quarter. Journey Advisory Group LLC’s holdings in General Dynamics were worth $477,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of GD. Richardson Financial Services Inc. bought a new position in General Dynamics during the 4th quarter worth $25,000. Redmont Wealth Advisors LLC acquired a new stake in shares of General Dynamics in the first quarter valued at about $25,000. Financial Synergies Wealth Advisors Inc. bought a new position in shares of General Dynamics during the first quarter worth about $29,000. New Covenant Trust Company N.A. acquired a new position in shares of General Dynamics in the first quarter worth approximately $29,000. Finally, American Capital Advisory LLC bought a new stake in General Dynamics in the second quarter valued at approximately $29,000. Institutional investors and hedge funds own 86.14% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on GD. Wells Fargo & Company raised their price target on shares of General Dynamics from $330.00 to $334.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. BTIG Research started coverage on shares of General Dynamics in a research note on Wednesday, June 26th. They set a “buy” rating and a $345.00 target price for the company. Royal Bank of Canada reaffirmed an “outperform” rating and set a $320.00 price target on shares of General Dynamics in a research report on Thursday, July 25th. Morgan Stanley raised General Dynamics from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $293.00 to $345.00 in a research report on Friday, August 9th. Finally, Barclays raised their target price 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 investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, General Dynamics has an average rating of “Moderate Buy” and an average price target of $315.06.

General Dynamics Stock Performance

Shares of GD stock opened at $297.29 on Friday. 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 firm has a fifty day simple moving average of $290.74 and a two-hundred day simple moving average of $288.67. General Dynamics Co. has a 12 month low of $214.53 and a 12 month high of $302.75. The firm has a market capitalization of $81.57 billion, a PE ratio of 24.25, a price-to-earnings-growth ratio of 1.64 and a beta of 0.61.

General Dynamics (NYSE:GD) last posted its earnings results on Wednesday, July 24th. The aerospace company reported $3.26 EPS 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 business had revenue of $11.98 billion for the quarter, compared to the consensus estimate of $11.46 billion. During the same period in the previous year, the firm earned $2.70 earnings per share. The company’s revenue was up 18.0% on a year-over-year basis. Analysts forecast that General Dynamics Co. will post 14.52 EPS for the current fiscal year.

General Dynamics Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 11th will be issued a $1.42 dividend. The ex-dividend date of this dividend is Friday, October 11th. This represents a $5.68 dividend on an annualized basis and a dividend yield of 1.91%. General Dynamics’s dividend payout ratio is presently 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.