Total Clarity Wealth Management Inc. Sells 299 Shares of General Dynamics Co. (NYSE:GD)

Total Clarity Wealth Management Inc. reduced its holdings in shares of General Dynamics Co. (NYSE:GD) by 7.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,489 shares of the aerospace company’s stock after selling 299 shares during the period. Total Clarity Wealth Management Inc.’s holdings in General Dynamics were worth $1,012,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in the business. Gladstone Capital Management LLP acquired a new position in shares of General Dynamics in the 4th quarter valued at $3,869,000. SWP Financial LLC acquired a new stake in shares of General Dynamics during the fourth quarter worth about $227,000. Sanibel Captiva Trust Company Inc. purchased a new stake in General Dynamics in the fourth quarter valued at approximately $28,107,000. Evercore Wealth Management LLC raised its position in General Dynamics by 1.5% during the 4th quarter. Evercore Wealth Management LLC now owns 5,355 shares of the aerospace company’s stock worth $1,391,000 after buying an additional 78 shares during the last quarter. Finally, TD Asset Management Inc increased its stake in shares of General Dynamics by 7.2% in the fourth quarter. TD Asset Management Inc now owns 80,280 shares of the aerospace company’s stock worth $20,846,000 after acquiring an additional 5,405 shares during the period. Institutional investors and hedge funds own 86.14% of the company’s stock.

General Dynamics Stock Up 1.4 %

Shares of NYSE GD opened at $304.80 on Monday. General Dynamics Co. has a 1 year low of $214.53 and a 1 year high of $306.51. The company has a market capitalization of $83.63 billion, a P/E ratio of 24.86, a P/E/G ratio of 1.64 and a beta of 0.61. The company has a 50 day simple moving average of $292.48 and a 200-day simple moving average of $290.09. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.33 and a quick ratio of 0.80.

General Dynamics (NYSE:GD) last announced its quarterly earnings results on Wednesday, July 24th. The aerospace company reported $3.26 earnings per share for the quarter, missing analysts’ consensus estimates 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 net margin of 7.89% and a return on equity of 16.74%. General Dynamics’s revenue was up 18.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.70 earnings per share. On average, equities research analysts predict that General Dynamics Co. will post 14.52 earnings per share for the current year.

General Dynamics Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors 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 1.86%. The ex-dividend date of this dividend is Friday, October 11th. General Dynamics’s payout ratio is currently 46.33%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Robert W. Baird reaffirmed an “outperform” rating and set a $345.00 target price on shares of General Dynamics in a report on Tuesday, July 2nd. Wells Fargo & Company increased their target price on shares of General Dynamics from $330.00 to $334.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. Sanford C. Bernstein lifted their price target on General Dynamics from $290.00 to $302.00 and gave the company a “market perform” rating in a research note on Thursday, May 23rd. BTIG Research initiated coverage on General Dynamics in a research report on Wednesday, June 26th. They set a “buy” rating and a $345.00 price target on the stock. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $320.00 price objective on shares of General Dynamics in a research report on Thursday, July 25th. Six equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, General Dynamics presently has an average rating of “Moderate Buy” and a consensus target price 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.