Sierra Summit Advisors LLC Boosts Stock Holdings in General Dynamics Co. (NYSE:GD)

Sierra Summit Advisors LLC boosted its stake in General Dynamics Co. (NYSE:GD) by 10.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,761 shares of the aerospace company’s stock after purchasing an additional 265 shares during the quarter. Sierra Summit Advisors LLC’s holdings in General Dynamics were worth $801,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently bought and sold shares of the company. Richardson Financial Services Inc. purchased a new position in General Dynamics in the fourth quarter worth $25,000. Redmont Wealth Advisors LLC purchased a new position in shares of General Dynamics in the 1st quarter worth about $25,000. Financial Synergies Wealth Advisors Inc. bought a new position in shares of General Dynamics during the 1st quarter valued at about $29,000. New Covenant Trust Company N.A. purchased a new position in shares of General Dynamics during the 1st quarter valued at about $29,000. Finally, American Capital Advisory LLC bought a new stake in General Dynamics in the 2nd quarter worth approximately $29,000. Hedge funds and other institutional investors own 86.14% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on GD shares. Robert W. Baird reissued an “outperform” rating and set a $345.00 price target on shares of General Dynamics in a research note on Tuesday, July 2nd. Wells Fargo & Company lifted 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. Barclays upped their price target 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. Sanford C. Bernstein lifted their price objective on General Dynamics from $290.00 to $302.00 and gave the stock a “market perform” rating in a report on Thursday, May 23rd. Finally, BTIG Research initiated coverage on General Dynamics in a report on Wednesday, June 26th. They set a “buy” rating and a $345.00 target price for the company. Six investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $315.06.

General Dynamics Stock Up 1.4 %

Shares of General Dynamics stock opened at $304.80 on Monday. The company has a current ratio of 1.33, a quick ratio of 0.80 and a debt-to-equity ratio of 0.33. General Dynamics Co. has a 12-month low of $214.53 and a 12-month high of $306.51. The company has a market cap of $83.63 billion, a P/E ratio of 24.86, a PEG ratio of 1.64 and a beta of 0.61. The company’s fifty day simple moving average is $292.48 and its two-hundred day simple moving average is $290.09.

General Dynamics (NYSE:GD) last released 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 company 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 quarterly revenue was up 18.0% on a year-over-year basis. During the same period in the previous year, the company earned $2.70 earnings per share. Research analysts anticipate that General Dynamics Co. will post 14.52 EPS for the current year.

General Dynamics Announces Dividend

The company 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 $1.42 dividend. This represents a $5.68 dividend on an annualized basis and a dividend yield of 1.86%. The ex-dividend date of this dividend is Friday, October 11th. General Dynamics’s payout ratio is presently 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.