Strategic Wealth Partners Ltd. Takes Position in General Dynamics Co. (NYSE:GD)

Strategic Wealth Partners Ltd. bought a new stake in General Dynamics Co. (NYSE:GD) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 13,481 shares of the aerospace company’s stock, valued at approximately $4,074,000.

A number of other hedge funds also recently modified their holdings of GD. Modera Wealth Management LLC raised its holdings in shares of General Dynamics by 0.4% during the second quarter. Modera Wealth Management LLC now owns 8,120 shares of the aerospace company’s stock worth $2,356,000 after acquiring an additional 35 shares in the last quarter. Rathbones Group PLC raised its holdings in shares of General Dynamics by 1.8% during the second quarter. Rathbones Group PLC now owns 2,022 shares of the aerospace company’s stock worth $587,000 after acquiring an additional 35 shares in the last quarter. Legend Financial Advisors Inc. raised its holdings in shares of General Dynamics by 46.8% during the first quarter. Legend Financial Advisors Inc. now owns 113 shares of the aerospace company’s stock worth $32,000 after acquiring an additional 36 shares in the last quarter. Diversified Trust Co raised its holdings in shares of General Dynamics by 2.5% during the first quarter. Diversified Trust Co now owns 1,503 shares of the aerospace company’s stock worth $425,000 after acquiring an additional 36 shares in the last quarter. Finally, Fulton Bank N.A. raised its holdings in shares of General Dynamics by 1.1% during the first quarter. Fulton Bank N.A. now owns 3,299 shares of the aerospace company’s stock worth $932,000 after acquiring an additional 37 shares in the last quarter. Hedge funds and other institutional investors own 86.14% of the company’s stock.

General Dynamics Trading Down 0.1 %

Shares of NYSE:GD opened at $296.90 on Wednesday. The company has a market cap of $81.46 billion, a P/E ratio of 24.22, a P/E/G ratio of 1.68 and a beta of 0.61. The stock’s 50-day moving average is $297.51 and its 200-day moving average is $293.32. General Dynamics Co. has a 52-week low of $228.50 and a 52-week high of $309.97. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.80 and a current ratio of 1.33.

General Dynamics (NYSE:GD) last released its 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). General Dynamics had a return on equity of 16.74% and a net margin of 7.89%. The firm had revenue of $11.98 billion for the quarter, compared to analyst estimates of $11.46 billion. During the same period last year, the business earned $2.70 earnings per share. The firm’s quarterly revenue was up 18.0% compared to the same quarter last year. Equities research analysts predict 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. Investors of record on Friday, October 11th will be given a dividend of $1.42 per share. This represents a $5.68 dividend on an annualized basis and a yield of 1.91%. The ex-dividend date is Friday, October 11th. General Dynamics’s dividend payout ratio (DPR) is presently 46.33%.

Analyst Ratings Changes

Several brokerages recently issued reports on GD. Morgan Stanley upgraded General Dynamics from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $293.00 to $345.00 in a report on Friday, August 9th. TD Cowen upgraded General Dynamics to a “strong-buy” rating in a report on Tuesday. Royal Bank of Canada restated an “outperform” rating and set a $320.00 target price on shares of General Dynamics in a report on Thursday, July 25th. Robert W. Baird restated an “outperform” rating and set a $345.00 target price on shares of General Dynamics in a report on Tuesday, July 2nd. Finally, Wells Fargo & Company lowered General Dynamics from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $334.00 to $317.00 in a report on Tuesday, October 1st. Six equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, General Dynamics presently has an average rating of “Moderate Buy” and an average target price of $317.06.

Insider Buying and Selling

In related news, Director Peter A. Wall sold 1,320 shares of General Dynamics stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $308.05, for a total transaction of $406,626.00. Following the sale, the director now directly owns 3,592 shares of the company’s stock, valued at $1,106,515.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.52% of the stock is owned by company insiders.

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.