General Dynamics Co. (NYSE:GD) Shares Purchased by ProVise Management Group LLC

ProVise Management Group LLC increased its position in shares of General Dynamics Co. (NYSE:GD) by 1.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 29,384 shares of the aerospace company’s stock after acquiring an additional 336 shares during the period. ProVise Management Group LLC’s holdings in General Dynamics were worth $8,525,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of GD. Gladstone Capital Management LLP acquired a new stake in General Dynamics in the 4th quarter valued at about $3,869,000. SWP Financial LLC acquired a new stake in General Dynamics in the 4th quarter valued at about $227,000. Sanibel Captiva Trust Company Inc. acquired a new stake in General Dynamics in the 4th quarter valued at about $28,107,000. Evercore Wealth Management LLC raised its position in General Dynamics by 1.5% in the 4th quarter. Evercore Wealth Management LLC now owns 5,355 shares of the aerospace company’s stock valued at $1,391,000 after purchasing an additional 78 shares in the last quarter. Finally, TD Asset Management Inc increased its holdings in shares of General Dynamics by 7.2% in the 4th quarter. TD Asset Management Inc now owns 80,280 shares of the aerospace company’s stock valued at $20,846,000 after acquiring an additional 5,405 shares during the last quarter. Institutional investors and hedge funds own 86.14% of the company’s stock.

General Dynamics Price Performance

GD stock opened at $302.40 on Thursday. The stock has a 50-day moving average price of $293.92 and a two-hundred day moving average price of $290.64. General Dynamics Co. has a 12-month low of $214.53 and a 12-month high of $309.97. 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 company has a market cap of $82.97 billion, a PE ratio of 24.67, a price-to-earnings-growth ratio of 1.64 and a beta of 0.61.

General Dynamics (NYSE:GD) last issued its quarterly earnings data on Wednesday, July 24th. The aerospace company reported $3.26 EPS for the quarter, missing analysts’ consensus estimates of $3.30 by ($0.04). The company had revenue of $11.98 billion for the quarter, compared to analyst estimates of $11.46 billion. General Dynamics had a return on equity of 16.74% and a net margin of 7.89%. The company’s revenue for the quarter was up 18.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.70 EPS. As a group, research analysts predict that General Dynamics Co. will post 14.52 EPS for the current year.

General Dynamics Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, October 11th will be paid a $1.42 dividend. This represents a $5.68 annualized dividend and a dividend yield of 1.88%. The ex-dividend date is Friday, October 11th. General Dynamics’s dividend payout ratio (DPR) is 46.33%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Barclays increased 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 raised their price target on General Dynamics from $330.00 to $334.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. Morgan Stanley upgraded General Dynamics from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $293.00 to $345.00 in a research note on Friday, August 9th. BTIG Research initiated coverage on General Dynamics in a research note on Wednesday, June 26th. They set a “buy” rating and a $345.00 price target on the stock. Finally, Royal Bank of Canada restated an “outperform” rating and set a $320.00 price target on shares of General Dynamics in a research note on Thursday, July 25th. Six investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $315.06.

Insider Buying and Selling

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 transaction, the director now owns 3,592 shares in the company, valued at $1,106,515.60. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 1.52% of the company’s stock.

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.