Axxcess Wealth Management LLC Purchases 391 Shares of General Dynamics Co. (NYSE:GD)

Axxcess Wealth Management LLC increased its holdings in General Dynamics Co. (NYSE:GD) by 4.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,664 shares of the aerospace company’s stock after acquiring an additional 391 shares during the period. Axxcess Wealth Management LLC’s holdings in General Dynamics were worth $2,804,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of GD. 1832 Asset Management L.P. raised its stake in shares of General Dynamics by 3,645.4% during the 4th quarter. 1832 Asset Management L.P. now owns 558,586 shares of the aerospace company’s stock worth $145,048,000 after purchasing an additional 543,672 shares during the period. Public Employees Retirement Association of Colorado boosted its stake in General Dynamics by 879.9% in the first quarter. Public Employees Retirement Association of Colorado now owns 340,359 shares of the aerospace company’s stock valued at $96,148,000 after acquiring an additional 305,624 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position in shares of General Dynamics by 4.0% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 7,639,758 shares of the aerospace company’s stock valued at $2,216,599,000 after acquiring an additional 293,316 shares during the period. Junto Capital Management LP purchased a new stake in shares of General Dynamics during the 4th quarter worth approximately $43,733,000. Finally, Bahl & Gaynor Inc. increased its stake in shares of General Dynamics by 5,398.1% during the 1st quarter. Bahl & Gaynor Inc. now owns 168,461 shares of the aerospace company’s stock worth $47,589,000 after purchasing an additional 165,397 shares during the last quarter. 86.14% of the stock is owned by hedge funds and other institutional investors.

General Dynamics Price Performance

Shares of NYSE GD opened at $303.85 on Wednesday. The firm has a market capitalization of $83.37 billion, a P/E ratio of 24.78, a P/E/G ratio of 1.64 and a beta of 0.61. 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 stock’s 50-day simple moving average is $293.51 and its two-hundred day simple moving average is $290.56. General Dynamics Co. has a twelve month low of $214.53 and a twelve month high of $309.97.

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

General Dynamics Announces Dividend

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

Wall Street Analyst Weigh In

Several equities analysts have weighed in on GD shares. Sanford C. Bernstein increased their price objective on General Dynamics from $290.00 to $302.00 and gave the company a “market perform” rating in a report on Thursday, May 23rd. Robert W. Baird reiterated an “outperform” rating and set a $345.00 price target on shares of General Dynamics in a research note on Tuesday, July 2nd. BTIG Research began coverage on General Dynamics in a research note on Wednesday, June 26th. They issued a “buy” rating and a $345.00 price objective on the stock. Wells Fargo & Company increased their target price on shares of General Dynamics from $330.00 to $334.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $320.00 target price on shares of General Dynamics in a research note on Thursday, July 25th. Six investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, General Dynamics presently has an average rating of “Moderate Buy” and an average target price 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.