Opes Wealth Management LLC Makes New $205,000 Investment in General Dynamics Co. (NYSE:GD)

Opes Wealth Management LLC acquired a new position in General Dynamics Co. (NYSE:GD) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 705 shares of the aerospace company’s stock, valued at approximately $205,000.

Other institutional investors have also added to or reduced their stakes in the company. Redmont Wealth Advisors LLC bought a new stake in General Dynamics in the 1st quarter worth about $25,000. Richardson Financial Services Inc. bought a new position in shares of General Dynamics during the 4th quarter valued at approximately $25,000. American Capital Advisory LLC bought a new position in shares of General Dynamics during the 2nd quarter valued at approximately $29,000. Financial Synergies Wealth Advisors Inc. bought a new position in shares of General Dynamics during the 1st quarter valued at approximately $29,000. Finally, New Covenant Trust Company N.A. bought a new position in shares of General Dynamics during the 1st quarter valued at approximately $29,000. 86.14% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently weighed in on GD. Barclays increased 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. Morgan Stanley upgraded shares of General Dynamics from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $293.00 to $345.00 in a research note on Friday, August 9th. Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of General Dynamics in a research note on Monday, July 29th. Wells Fargo & Company upped their price target on shares of General Dynamics from $330.00 to $334.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. Finally, Robert W. Baird restated an “outperform” rating and set a $345.00 price target on shares of General Dynamics in a research note on Tuesday, July 2nd. 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.com, General Dynamics currently has an average rating of “Moderate Buy” and an average price target of $315.06.

General Dynamics Price Performance

GD stock opened at $292.96 on Friday. The firm has a market cap of $80.38 billion, a P/E ratio of 23.90, a P/E/G 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 $302.75. 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 firm’s fifty day moving average is $290.80 and its 200 day moving average is $288.84.

General Dynamics (NYSE:GD) last announced its quarterly earnings results on Wednesday, July 24th. The aerospace company reported $3.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.30 by ($0.04). The firm had revenue of $11.98 billion during the quarter, compared to the consensus estimate 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 was up 18.0% on a year-over-year basis. During the same period last year, the business earned $2.70 EPS. Research analysts predict that General Dynamics Co. will post 14.52 earnings per share for the current year.

General Dynamics Announces Dividend

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 paid a dividend of $1.42 per share. This represents a $5.68 dividend on an annualized basis and a dividend yield of 1.94%. The ex-dividend date of this dividend is Friday, October 11th. General Dynamics’s payout ratio is 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.