Late Wednesday, model portfolio name General Dynamics
(GD:NYSE) boosted its quarterly dividend 11%, to $0.62 a
share (2.2% yield). This Alert is an update on the company
and we're not recommending any trades for the model
Investors at the close of trading on April 8 will qualify for
the payment on May 9. Management has raised the dividend for
17 consecutive years and can cover the 2.9x with expected
2014 earnings of $7.21 a share.
Having touched a new, all-time high on Tuesday, the stock is
currently changing hands around $111.28. As General Dynamics
is trading 57% above our purchase price, we would not chase
the shares with new money. Even so, we believe the stock
remains attractive to hold up to our $123 price target.
David S. Peltier
With earnings season wrapped up, we are establishing six- to 12-month price targets for each of the holdings in the model portfolio.
As we continue our search for new model portfolio names, this issue offers four earnings reviews, one preview, a company update and some dividend reminders.
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