Citizens Financial Group Inc. RI Increases Stake in General Dynamics Co. (NYSE:GD)

Citizens Financial Group Inc. RI increased its holdings in General Dynamics Co. (NYSE:GD) by 0.7% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 23,568 shares of the aerospace company’s stock after acquiring an additional 166 shares during the quarter. Citizens Financial Group Inc. RI’s holdings in General Dynamics were worth $6,838,000 as of its most recent SEC filing.

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

General Dynamics Stock Up 0.9 %

General Dynamics stock opened at $307.56 on Tuesday. General Dynamics Co. has a 52 week low of $214.53 and a 52 week high of $309.97. The firm has a market cap of $84.38 billion, a price-to-earnings ratio of 25.09, a price-to-earnings-growth ratio of 1.64 and a beta of 0.61. The business’s 50-day moving average price is $293.02 and its 200 day moving average price is $290.34. The company has a quick ratio of 0.80, a current ratio of 1.33 and a debt-to-equity ratio of 0.33.

General Dynamics (NYSE:GD) last posted its earnings results 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 net margin of 7.89% and a return on equity of 16.74%. The firm had revenue of $11.98 billion for the quarter, compared to analysts’ expectations of $11.46 billion. During the same period last year, the firm earned $2.70 earnings per share. General Dynamics’s revenue for the quarter was up 18.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that General Dynamics Co. will post 14.52 earnings per share for the current year.

General Dynamics Dividend Announcement

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 dividend of $1.42 per share. This represents a $5.68 annualized dividend and a dividend yield of 1.85%. The ex-dividend date is Friday, October 11th. General Dynamics’s payout ratio is currently 46.33%.

Analysts Set New Price Targets

Several brokerages have recently commented on GD. Barclays increased their price objective on General Dynamics from $310.00 to $325.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of General Dynamics in a research note on Monday, July 29th. Wells Fargo & Company boosted their price target on General Dynamics from $330.00 to $334.00 and gave the stock an “overweight” rating in a research note 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 company from $293.00 to $345.00 in a research report on Friday, August 9th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $320.00 price target on shares of General Dynamics in a research note on Thursday, July 25th. Six analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock 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.