Prime Capital Investment Advisors LLC Sells 3,284 Shares of General Dynamics Co. (NYSE:GD)

Prime Capital Investment Advisors LLC trimmed its position in shares of General Dynamics Co. (NYSE:GD) by 18.0% during the second quarter, HoldingsChannel.com reports. The firm owned 15,009 shares of the aerospace company’s stock after selling 3,284 shares during the period. Prime Capital Investment Advisors LLC’s holdings in General Dynamics were worth $4,355,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Modera Wealth Management LLC raised its stake in shares of General Dynamics by 0.4% during the 2nd quarter. Modera Wealth Management LLC now owns 8,120 shares of the aerospace company’s stock valued at $2,356,000 after purchasing an additional 35 shares during the period. Legend Financial Advisors Inc. raised its stake in shares of General Dynamics by 46.8% during the 1st quarter. Legend Financial Advisors Inc. now owns 113 shares of the aerospace company’s stock valued at $32,000 after purchasing an additional 36 shares during the period. Diversified Trust Co raised its stake in shares of General Dynamics by 2.5% during the 1st quarter. Diversified Trust Co now owns 1,503 shares of the aerospace company’s stock valued at $425,000 after purchasing an additional 36 shares during the period. Fulton Bank N.A. raised its stake in shares of General Dynamics by 1.1% during the 1st quarter. Fulton Bank N.A. now owns 3,299 shares of the aerospace company’s stock valued at $932,000 after purchasing an additional 37 shares during the period. Finally, Copperwynd Financial LLC raised its stake in shares of General Dynamics by 3.7% during the 4th quarter. Copperwynd Financial LLC now owns 1,056 shares of the aerospace company’s stock valued at $274,000 after purchasing an additional 38 shares during the period. 86.14% of the stock is owned by institutional investors and hedge funds.

General Dynamics Trading Up 1.4 %

NYSE GD opened at $304.80 on Monday. General Dynamics Co. has a fifty-two week low of $214.53 and a fifty-two week high of $306.51. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.80 and a current ratio of 1.33. The stock has a 50 day simple moving average of $292.48 and a two-hundred day simple moving average of $290.09. The stock has a market cap of $83.63 billion, a P/E ratio of 24.86, a price-to-earnings-growth ratio of 1.64 and a beta of 0.61.

General Dynamics (NYSE:GD) last released 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). General Dynamics had a return on equity of 16.74% and a net margin of 7.89%. The business had revenue of $11.98 billion during the quarter, compared to analysts’ expectations of $11.46 billion. During the same quarter last year, the business posted $2.70 EPS. The company’s quarterly revenue was up 18.0% compared to the same quarter last year. On average, analysts forecast that General Dynamics Co. will post 14.52 earnings per share for the current year.

General Dynamics Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, October 11th will be issued a $1.42 dividend. This represents a $5.68 annualized dividend and a yield of 1.86%. The ex-dividend date of this dividend is Friday, October 11th. General Dynamics’s dividend payout ratio (DPR) is currently 46.33%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Royal Bank of Canada reiterated an “outperform” rating and set a $320.00 price objective on shares of General Dynamics in a research note on Thursday, July 25th. Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of General Dynamics in a research note on Monday, July 29th. Sanford C. Bernstein upped their target price on General Dynamics from $290.00 to $302.00 and gave the stock a “market perform” rating in a research note on Thursday, May 23rd. BTIG Research started coverage on General Dynamics in a research note on Wednesday, June 26th. They issued a “buy” rating and a $345.00 target price on the stock. Finally, Morgan Stanley upgraded General Dynamics from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $293.00 to $345.00 in a report on Friday, August 9th. Six equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $315.06.

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.