Sierra Summit Advisors LLC Has $801,000 Position in General Dynamics Co. (NYSE:GD)

Sierra Summit Advisors LLC increased its holdings in shares of General Dynamics Co. (NYSE:GD) by 10.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,761 shares of the aerospace company’s stock after buying an additional 265 shares during the period. Sierra Summit Advisors LLC’s holdings in General Dynamics were worth $801,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in GD. Richardson Financial Services Inc. bought a new stake in General Dynamics during the fourth quarter valued at $25,000. Redmont Wealth Advisors LLC bought a new stake in shares of General Dynamics during the 1st quarter valued at about $25,000. Financial Synergies Wealth Advisors Inc. acquired a new stake in General Dynamics during the first quarter worth approximately $29,000. New Covenant Trust Company N.A. bought a new stake in General Dynamics in the first quarter worth approximately $29,000. Finally, American Capital Advisory LLC bought a new position in shares of General Dynamics during the 2nd quarter worth approximately $29,000. 86.14% of the stock is owned by institutional investors.

General Dynamics Stock Performance

Shares of GD opened at $304.80 on Monday. The stock has a 50 day moving average of $292.48 and a 200 day moving average of $290.09. 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 capitalization of $83.63 billion, a price-to-earnings ratio of 24.86, a PEG ratio of 1.64 and a beta of 0.61.

General Dynamics (NYSE:GD) last released its earnings results on Wednesday, July 24th. The aerospace company reported $3.26 EPS for the quarter, missing analysts’ consensus estimates of $3.30 by ($0.04). The business had revenue of $11.98 billion for 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%. The company’s revenue for the quarter was up 18.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.70 earnings per share. As a group, sell-side analysts forecast that General Dynamics Co. will post 14.52 earnings per share for the current year.

General Dynamics Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 11th will be given a dividend of $1.42 per share. This represents a $5.68 dividend on an annualized basis and a dividend yield of 1.86%. The ex-dividend date is Friday, October 11th. General Dynamics’s dividend payout ratio is currently 46.33%.

Analyst Ratings Changes

A number of research firms recently issued reports on GD. Royal Bank of Canada reiterated an “outperform” rating and set a $320.00 target price on shares of General Dynamics in a research report on Thursday, July 25th. Sanford C. Bernstein increased their price objective on shares of General Dynamics from $290.00 to $302.00 and gave the stock a “market perform” rating in a research report on Thursday, May 23rd. Morgan Stanley raised General Dynamics from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $293.00 to $345.00 in a research note on Friday, August 9th. Wells Fargo & Company raised their price objective on General Dynamics from $330.00 to $334.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of General Dynamics in a report on Monday, July 29th. 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 MarketBeat, General Dynamics has an average rating of “Moderate Buy” and a consensus price target 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.