Hennion & Walsh Asset Management Inc. Sells 1,313 Shares of General Dynamics Co. (NYSE:GD)

Hennion & Walsh Asset Management Inc. lessened its position in shares of General Dynamics Co. (NYSE:GD) by 26.0% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,730 shares of the aerospace company’s stock after selling 1,313 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in General Dynamics were worth $1,127,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Wealthcare Advisory Partners LLC grew its position in shares of General Dynamics by 114.7% during the 1st quarter. Wealthcare Advisory Partners LLC now owns 3,032 shares of the aerospace company’s stock worth $857,000 after buying an additional 1,620 shares during the period. Vicus Capital acquired a new stake in General Dynamics in the first quarter worth $301,000. Breakwater Capital Group bought a new stake in General Dynamics in the first quarter valued at $237,000. 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 valued at $425,000 after purchasing an additional 36 shares during the period. Finally, BKM Wealth Management LLC boosted its position in shares of General Dynamics by 18.3% during the 1st quarter. BKM Wealth Management LLC now owns 5,636 shares of the aerospace company’s stock worth $1,592,000 after purchasing an additional 870 shares in the last quarter. Institutional investors and hedge funds own 86.14% of the company’s stock.

Analysts Set New Price Targets

GD has been the subject of several recent research reports. Barclays boosted 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. Sanford C. Bernstein lowered their price objective on shares of General Dynamics from $343.00 to $331.00 and set a “market perform” rating on the stock in a report on Thursday. Morgan Stanley upgraded shares of General Dynamics from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $293.00 to $345.00 in a report on Friday, August 9th. Seaport Res Ptn lowered shares of General Dynamics from a “strong-buy” rating to a “hold” rating in a report on Friday, October 11th. Finally, Wells Fargo & Company boosted their price objective on General Dynamics from $317.00 to $322.00 and gave the stock an “equal weight” rating in a report on Thursday. Seven investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, General Dynamics currently has an average rating of “Moderate Buy” and a consensus target price of $323.88.

Insider Buying and Selling at General Dynamics

In other news, Director Peter A. Wall sold 1,320 shares of the stock in a transaction on Monday, September 16th. The stock was sold at an average price of $308.05, for a total transaction of $406,626.00. Following the completion of the transaction, the director now owns 3,592 shares in the company, valued at approximately $1,106,515.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.52% of the company’s stock.

General Dynamics Trading Up 0.4 %

Shares of General Dynamics stock opened at $302.52 on Friday. The firm has a market cap of $83.13 billion, a PE ratio of 23.60, a P/E/G ratio of 1.72 and a beta of 0.61. General Dynamics Co. has a 1 year low of $236.58 and a 1 year high of $313.11. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.33 and a quick ratio of 0.80. The stock has a fifty day moving average price of $300.40 and a 200-day moving average price of $294.67.

General Dynamics (NYSE:GD) last announced its quarterly earnings data on Wednesday, October 23rd. The aerospace company reported $3.35 EPS for the quarter, missing the consensus estimate of $3.48 by ($0.13). General Dynamics had a return on equity of 16.74% and a net margin of 7.89%. The company had revenue of $11.67 billion during the quarter, compared to the consensus estimate of $11.65 billion. During the same period in the prior year, the firm posted $3.04 EPS. The business’s revenue was up 10.4% on a year-over-year basis. Equities research analysts anticipate that General Dynamics Co. will post 14.27 EPS for the current year.

General Dynamics Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders 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 1.88%. The ex-dividend date of this dividend is Friday, October 11th. General Dynamics’s dividend payout ratio is currently 44.31%.

General Dynamics 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.