Sequoia Financial Advisors LLC Acquires 4,105 Shares of General Dynamics Co. (NYSE:GD)

Sequoia Financial Advisors LLC grew its holdings in General Dynamics Co. (NYSE:GD) by 14.9% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 31,608 shares of the aerospace company’s stock after purchasing an additional 4,105 shares during the period. Sequoia Financial Advisors LLC’s holdings in General Dynamics were worth $9,552,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Redmont Wealth Advisors LLC bought a new position in shares of General Dynamics in the 1st quarter valued at $25,000. American Capital Advisory LLC bought a new position in shares of General Dynamics in the 2nd quarter valued at $29,000. Lowe Wealth Advisors LLC bought a new position in shares of General Dynamics in the 3rd quarter valued at $30,000. New Covenant Trust Company N.A. bought a new position in shares of General Dynamics in the 1st quarter valued at $29,000. Finally, Atlantic Edge Private Wealth Management LLC boosted its holdings in shares of General Dynamics by 120.0% during the 2nd quarter. Atlantic Edge Private Wealth Management LLC now owns 110 shares of the aerospace company’s stock valued at $32,000 after acquiring an additional 60 shares in the last quarter. Institutional investors own 86.14% of the company’s stock.

Insider Activity at General Dynamics

In related news, Director Peter A. Wall sold 1,320 shares of the business’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 directly owns 3,592 shares of the company’s stock, valued at $1,106,515.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 1.52% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research firms recently weighed in on GD. TD Cowen raised General Dynamics to a “strong-buy” rating in a report on Tuesday, October 8th. Barclays raised 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. Wells Fargo & Company downgraded General Dynamics from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $334.00 to $317.00 in a report on Tuesday, October 1st. Seaport Res Ptn downgraded General Dynamics from a “strong-buy” rating to a “hold” rating in a report on Friday, October 11th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $320.00 price objective on shares of General Dynamics in a report on Thursday, July 25th. Seven investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, General Dynamics currently has an average rating of “Moderate Buy” and a consensus target price of $320.18.

General Dynamics Stock Performance

GD stock opened at $305.92 on Wednesday. The stock has a 50-day moving average price of $299.96 and a 200-day moving average price of $294.48. General Dynamics Co. has a 1-year low of $232.29 and a 1-year high of $310.85. The company has a current ratio of 1.33, a quick ratio of 0.80 and a debt-to-equity ratio of 0.33. The firm has a market cap of $83.93 billion, a PE ratio of 24.95, a price-to-earnings-growth ratio of 1.67 and a beta of 0.61.

General Dynamics (NYSE:GD) last posted its quarterly earnings data 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 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 the consensus estimate of $11.46 billion. During the same period last year, the business posted $2.70 earnings per share. The business’s revenue was up 18.0% on a year-over-year basis. As a group, equities research analysts expect that General Dynamics Co. will post 14.38 earnings per share for the current year.

General Dynamics Announces Dividend

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 $1.42 dividend. This represents a $5.68 dividend on an annualized basis and a yield of 1.86%. The ex-dividend date of this dividend is Friday, October 11th. General Dynamics’s payout ratio is 46.33%.

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.