1620 Investment Advisors Inc. grew its holdings in General Dynamics Co. (NYSE:GD – Free Report) by 79.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,238 shares of the aerospace company’s stock after acquiring an additional 990 shares during the period. 1620 Investment Advisors Inc.’s holdings in General Dynamics were worth $676,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also modified their holdings of the company. MFA Wealth Advisors LLC increased its holdings in General Dynamics by 241.7% during the 3rd quarter. MFA Wealth Advisors LLC now owns 82 shares of the aerospace company’s stock worth $25,000 after purchasing an additional 58 shares during the period. New Covenant Trust Company N.A. purchased a new stake in shares of General Dynamics during the first quarter worth approximately $29,000. American Capital Advisory LLC acquired a new stake in General Dynamics in the second quarter valued at approximately $29,000. Lowe Wealth Advisors LLC purchased a new position in General Dynamics in the third quarter worth approximately $30,000. Finally, Beacon Capital Management LLC grew its holdings in General Dynamics by 1,144.4% during the 1st quarter. Beacon Capital Management LLC now owns 112 shares of the aerospace company’s stock worth $32,000 after acquiring an additional 103 shares in the last quarter. Hedge funds and other institutional investors own 86.14% of the company’s stock.
Analysts Set New Price Targets
Several research firms have recently issued reports on GD. Seaport Res Ptn cut General Dynamics from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 11th. Citigroup increased their target price on shares of General Dynamics from $331.00 to $354.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. TD Cowen upgraded shares of General Dynamics to a “strong-buy” rating in a research note on Tuesday, October 8th. Royal Bank of Canada boosted their target price on General Dynamics from $320.00 to $330.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Finally, Sanford C. Bernstein dropped their price target on General Dynamics from $343.00 to $331.00 and set a “market perform” rating on the stock in a research note on Thursday, October 24th. Seven investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, General Dynamics has a consensus rating of “Moderate Buy” and a consensus target price of $324.19.
Insider Buying and Selling
In other General Dynamics news, Director Peter A. Wall sold 1,320 shares of the business’s 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 sale, the director now directly owns 3,592 shares in the company, valued at approximately $1,106,515.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.52% of the company’s stock.
General Dynamics Stock Down 0.1 %
GD opened at $301.37 on Thursday. General Dynamics Co. has a 12 month low of $237.50 and a 12 month 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 business has a 50 day simple moving average of $300.83 and a 200-day simple moving average of $295.00. The stock has a market capitalization of $82.87 billion, a P/E ratio of 24.58, a P/E/G ratio of 1.72 and a beta of 0.61.
General Dynamics (NYSE:GD – Get Free Report) last announced its quarterly earnings results on Wednesday, October 23rd. The aerospace company reported $3.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.48 by ($0.13). The company had revenue of $11.67 billion during the quarter, compared to analysts’ expectations of $11.65 billion. General Dynamics had a net margin of 7.89% and a return on equity of 16.74%. The business’s revenue for the quarter was up 10.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.04 EPS. On average, equities analysts anticipate that General Dynamics Co. will post 14.27 earnings per share for the current fiscal year.
General Dynamics Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 11th will be paid a dividend of $1.42 per share. This represents a $5.68 annualized dividend and a dividend yield of 1.88%. The ex-dividend date of this dividend is Friday, October 11th. General Dynamics’s dividend payout ratio (DPR) is 46.33%.
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.
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