Smith Moore & CO. trimmed its stake in shares of General Dynamics Co. (NYSE:GD) by 0.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 6,133 shares of the aerospace company’s stock after selling 53 shares during the quarter. Smith Moore & CO.’s holdings in General Dynamics were worth $1,155,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. First PREMIER Bank purchased a new stake in shares of General Dynamics during the second quarter worth $28,000. Bradley & Co. Private Wealth Management LLC bought a new position in General Dynamics in the 1st quarter worth approximately $32,000. Solstein Capital LLC acquired a new position in shares of General Dynamics during the first quarter worth approximately $32,000. Twin Lakes Capital Management LLC acquired a new stake in General Dynamics during the first quarter worth about $36,000. Finally, KB Financial Partners LLC bought a new position in General Dynamics during the first quarter valued at about $38,000. 85.22% of the stock is owned by institutional investors.
GD stock opened at $196.66 on Wednesday. The firm’s fifty day simple moving average is $196.33 and its two-hundred day simple moving average is $189.04. The company has a quick ratio of 1.05, a current ratio of 1.44 and a debt-to-equity ratio of 0.75. The stock has a market capitalization of $54.97 billion, a price-to-earnings ratio of 17.13, a price-to-earnings-growth ratio of 2.04 and a beta of 1.14. General Dynamics Co. has a twelve month low of $129.17 and a twelve month high of $206.46.
General Dynamics announced that its board has initiated a stock buyback plan on Wednesday, June 2nd that permits the company to repurchase 10,000,000 outstanding shares. This repurchase authorization permits the aerospace company to reacquire shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Friday, November 12th. Shareholders of record on Friday, October 8th will be given a $1.19 dividend. The ex-dividend date is Thursday, October 7th. This represents a $4.76 dividend on an annualized basis and a yield of 2.42%. General Dynamics’s dividend payout ratio is currently 43.27%.
GD has been the topic of a number of research reports. Credit Suisse Group boosted their price objective on General Dynamics from $182.00 to $198.00 and gave the company a “neutral” rating in a research report on Thursday, July 29th. Zacks Investment Research raised General Dynamics from a “hold” rating to a “buy” rating and set a $208.00 price target on the stock in a research note on Thursday, August 5th. Cowen restated a “buy” rating on shares of General Dynamics in a research report on Monday, August 9th. Finally, Wells Fargo & Company boosted their price target on shares of General Dynamics from $216.00 to $220.00 and gave the stock an “overweight” rating in a research note on Friday, July 30th. Three research analysts have rated the stock with a sell rating, one has assigned a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $201.67.
General Dynamics Company Profile
General Dynamics Corp. is an aerospace and defense company, which engages in the provision of tanks, rockets, missiles, submarines, warships, fighters and electronics to all of the military services. It operates through the following segments: Aerospace, Combat Systems, Information Technology, and Marine Systems.
Recommended Story: What are the advantages of the Stochastic Momentum Index?
Want to see what other hedge funds are holding GD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for General Dynamics Co. (NYSE:GD).
Receive News & Ratings for General Dynamics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for General Dynamics and related companies with MarketBeat.com's FREE daily email newsletter.