General Dynamics Co. (NYSE:GD) Shares Acquired by Waldron Private Wealth LLC

Waldron Private Wealth LLC increased its stake in shares of General Dynamics Co. (NYSE:GD) by 10.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 768 shares of the aerospace company’s stock after acquiring an additional 71 shares during the quarter. Waldron Private Wealth LLC’s holdings in General Dynamics were worth $232,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Redmont Wealth Advisors LLC purchased a new position in shares of General Dynamics during the first quarter worth approximately $25,000. New Covenant Trust Company N.A. purchased a new position in General Dynamics during the 1st quarter worth $29,000. American Capital Advisory LLC acquired a new position in General Dynamics in the second quarter valued at $29,000. Lowe Wealth Advisors LLC purchased a new stake in shares of General Dynamics in the third quarter valued at about $30,000. Finally, Legend Financial Advisors Inc. boosted its stake 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 buying an additional 36 shares during the period. 86.14% of the stock is owned by hedge funds and other institutional investors.

General Dynamics Stock Performance

NYSE GD opened at $304.40 on Thursday. The business has a 50 day moving average price of $300.17 and a 200 day moving average price of $294.55. 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 company has a market capitalization of $83.52 billion, a P/E ratio of 24.83, a PEG ratio of 1.67 and a beta of 0.61. General Dynamics Co. has a 1-year low of $232.29 and a 1-year high of $313.11.

General Dynamics (NYSE:GD) last released its quarterly earnings results on Wednesday, July 24th. The aerospace company reported $3.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.30 by ($0.04). The firm 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 quarterly revenue was up 18.0% compared to the same quarter last year. During the same period last year, the firm earned $2.70 EPS. Sell-side analysts expect that General Dynamics Co. will post 14.38 EPS for the current fiscal year.

General Dynamics Dividend Announcement

The firm 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 dividend of $1.42 per share. This represents a $5.68 dividend on an annualized basis and a yield of 1.87%. The ex-dividend date is Friday, October 11th. General Dynamics’s payout ratio is currently 46.33%.

Analysts Set New Price Targets

Several analysts have commented on GD shares. 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 objective for the company. Susquehanna upped their price target on General Dynamics from $333.00 to $352.00 and gave the stock a “positive” rating in a research note on Thursday, October 17th. 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 research report on Friday, August 9th. Royal Bank of Canada restated an “outperform” rating and set a $320.00 price objective on shares of General Dynamics in a research report on Thursday, July 25th. Finally, Citigroup lifted their target price on shares of General Dynamics from $331.00 to $354.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Seven analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $320.18.

Insider Buying and Selling at General Dynamics

In related news, Director Peter A. Wall sold 1,320 shares of General Dynamics stock in a transaction that occurred 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 directly owns 3,592 shares in the company, valued at $1,106,515.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 1.52% of the company’s stock.

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.