Coldstream Capital Management Inc. Boosts Holdings in General Dynamics Co. (NYSE:GD)

Coldstream Capital Management Inc. grew its stake in shares of General Dynamics Co. (NYSE:GD) by 0.9% in the second quarter, HoldingsChannel reports. The fund owned 6,277 shares of the aerospace company’s stock after buying an additional 57 shares during the quarter. Coldstream Capital Management Inc.’s holdings in General Dynamics were worth $1,821,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of GD. Richardson Financial Services Inc. purchased a new position in General Dynamics during the fourth quarter worth approximately $25,000. Redmont Wealth Advisors LLC purchased a new position in shares of General Dynamics in the 1st quarter worth $25,000. Financial Synergies Wealth Advisors Inc. acquired a new position in General Dynamics in the first quarter valued at $29,000. New Covenant Trust Company N.A. purchased a new stake in General Dynamics during the first quarter valued at about $29,000. Finally, American Capital Advisory LLC acquired a new stake in General Dynamics during the second quarter worth about $29,000. 86.14% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Royal Bank of Canada reiterated an “outperform” rating and set a $320.00 target price on shares of General Dynamics in a report on Thursday, July 25th. Morgan Stanley raised shares of General Dynamics from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $293.00 to $345.00 in a research report on Friday, August 9th. Wells Fargo & Company lifted their target price on shares of General Dynamics from $330.00 to $334.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of General Dynamics in a report on Monday, July 29th. Finally, Robert W. Baird restated an “outperform” rating and set a $345.00 price objective on shares of General Dynamics in a research note on Tuesday, July 2nd. Six 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.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $315.06.

General Dynamics Stock Performance

General Dynamics stock opened at $302.44 on Wednesday. The company has a current ratio of 1.33, a quick ratio of 0.80 and a debt-to-equity ratio of 0.33. The stock has a 50 day moving average of $291.40 and a 200-day moving average of $289.50. The stock has a market cap of $83.10 billion, a P/E ratio of 24.67, a price-to-earnings-growth ratio of 1.60 and a beta of 0.61. General Dynamics Co. has a 52 week low of $214.53 and a 52 week high of $306.51.

General Dynamics (NYSE:GD) last announced its quarterly earnings data on Wednesday, July 24th. The aerospace company reported $3.26 earnings per share for the quarter, missing the consensus estimate of $3.30 by ($0.04). The company had revenue of $11.98 billion for the quarter, compared to analyst estimates 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 in the prior year, the business earned $2.70 earnings per share. On average, analysts expect that General Dynamics Co. will post 14.52 EPS for the current fiscal year.

General Dynamics Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, October 11th will be paid a dividend of $1.42 per share. This represents a $5.68 annualized dividend and a yield of 1.88%. The ex-dividend date is Friday, October 11th. General Dynamics’s payout ratio is currently 46.33%.

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.