Wedmont Private Capital Has $653,000 Holdings in General Dynamics Co. (NYSE:GD)

Wedmont Private Capital decreased its position in General Dynamics Co. (NYSE:GD) by 1.5% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 2,361 shares of the aerospace company’s stock after selling 37 shares during the period. Wedmont Private Capital’s holdings in General Dynamics were worth $653,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in GD. Thrive Wealth Management LLC boosted its holdings in shares of General Dynamics by 2.1% during the first quarter. Thrive Wealth Management LLC now owns 2,002 shares of the aerospace company’s stock worth $546,000 after purchasing an additional 41 shares during the period. Austin Wealth Management LLC lifted its position in General Dynamics by 5.4% in the 4th quarter. Austin Wealth Management LLC now owns 826 shares of the aerospace company’s stock worth $220,000 after buying an additional 42 shares in the last quarter. SRS Capital Advisors Inc. boosted its stake in shares of General Dynamics by 35.8% during the 4th quarter. SRS Capital Advisors Inc. now owns 163 shares of the aerospace company’s stock valued at $43,000 after buying an additional 43 shares during the period. Stokes Family Office LLC grew its holdings in shares of General Dynamics by 0.4% during the 4th quarter. Stokes Family Office LLC now owns 10,279 shares of the aerospace company’s stock valued at $2,708,000 after acquiring an additional 43 shares in the last quarter. Finally, ICW Investment Advisors LLC increased its stake in shares of General Dynamics by 0.5% in the fourth quarter. ICW Investment Advisors LLC now owns 8,491 shares of the aerospace company’s stock worth $2,237,000 after acquiring an additional 43 shares during the last quarter. 86.14% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently issued reports on GD shares. UBS Group lifted their price objective on General Dynamics from $268.00 to $279.00 and gave the company a “neutral” rating in a research report on Thursday, April 24th. Susquehanna lifted their price target on General Dynamics from $300.00 to $315.00 and gave the company a “positive” rating in a report on Wednesday, April 2nd. TD Securities increased their price objective on General Dynamics from $275.00 to $290.00 and gave the stock a “buy” rating in a report on Thursday, April 24th. Wells Fargo & Company cut their price objective on shares of General Dynamics from $261.00 to $236.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 8th. Finally, Argus set a $295.00 target price on shares of General Dynamics in a research report on Tuesday, May 6th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $293.00.

General Dynamics Stock Performance

NYSE:GD opened at $277.35 on Tuesday. The company has a current ratio of 1.37, a quick ratio of 0.82 and a debt-to-equity ratio of 0.33. General Dynamics Co. has a 1 year low of $239.20 and a 1 year high of $316.90. The firm’s fifty day simple moving average is $272.72 and its 200 day simple moving average is $266.50. The firm has a market capitalization of $74.44 billion, a PE ratio of 20.33, a PEG ratio of 1.69 and a beta of 0.46.

General Dynamics (NYSE:GD) last posted its quarterly earnings data on Wednesday, April 23rd. The aerospace company reported $3.66 EPS for the quarter, topping analysts’ consensus estimates of $3.43 by $0.23. General Dynamics had a return on equity of 17.10% and a net margin of 7.93%. The business had revenue of $12.22 billion for the quarter, compared to analyst estimates of $11.92 billion. During the same period in the previous year, the company posted $2.88 earnings per share. The firm’s revenue for the quarter was up 13.9% on a year-over-year basis. On average, sell-side analysts anticipate that General Dynamics Co. will post 14.83 EPS for the current year.

General Dynamics Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 8th. Stockholders of record on Thursday, July 3rd will be issued a dividend of $1.50 per share. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.16%. General Dynamics’s dividend payout ratio (DPR) is presently 41.61%.

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.