Abacus Planning Group Inc. Buys 44 Shares of General Dynamics Co. (NYSE:GD)

Abacus Planning Group Inc. grew its stake in shares of General Dynamics Co. (NYSE:GD) by 3.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,351 shares of the aerospace company’s stock after purchasing an additional 44 shares during the period. Abacus Planning Group Inc.’s holdings in General Dynamics were worth $408,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Redmont Wealth Advisors LLC purchased a new position in General Dynamics during the first quarter valued at $25,000. Richardson Financial Services Inc. purchased a new stake in General Dynamics in the fourth quarter worth about $25,000. American Capital Advisory LLC bought a new position in shares of General Dynamics during the second quarter valued at approximately $29,000. Financial Synergies Wealth Advisors Inc. purchased a new position in shares of General Dynamics during the first quarter valued at approximately $29,000. Finally, New Covenant Trust Company N.A. bought a new stake in shares of General Dynamics in the 1st quarter worth approximately $29,000. 86.14% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on GD shares. Wells Fargo & Company lowered General Dynamics from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $334.00 to $317.00 in a research report on Tuesday. Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of General Dynamics in a report on Monday, July 29th. 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. Barclays lifted their target price on shares of General Dynamics from $310.00 to $325.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. Finally, BTIG Research began coverage on shares of General Dynamics in a report on Wednesday, June 26th. They set a “buy” rating and a $345.00 price target on the stock. Six analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $317.41.

Insider Activity at General Dynamics

In other General Dynamics news, Director Peter A. Wall sold 1,320 shares of the company’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $308.05, for a total value of $406,626.00. Following the completion of the sale, the director now owns 3,592 shares in the company, valued at $1,106,515.60. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 1.52% of the stock is owned by company insiders.

General Dynamics Stock Down 0.5 %

GD stock opened at $303.92 on Thursday. The company has a market cap of $83.38 billion, a price-to-earnings ratio of 24.79, a P/E/G ratio of 1.68 and a beta of 0.61. 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 business’s 50-day moving average is $296.90 and its two-hundred day moving average is $292.72. General Dynamics Co. has a fifty-two week low of $214.53 and a fifty-two week high of $309.97.

General Dynamics (NYSE:GD) last posted its quarterly earnings data on Wednesday, July 24th. The aerospace company reported $3.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 period in the previous year, the business posted $2.70 EPS. The business’s quarterly revenue was up 18.0% compared to the same quarter last year. As a group, 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 disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 11th will be paid a $1.42 dividend. The ex-dividend date is Friday, October 11th. This represents a $5.68 annualized dividend and a dividend yield of 1.87%. General Dynamics’s dividend payout ratio (DPR) is 46.33%.

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.