ORG Wealth Partners LLC Makes New $702,000 Investment in General Dynamics Co. (NYSE:GD)

ORG Wealth Partners LLC purchased a new stake in shares of General Dynamics Co. (NYSE:GD) during the third quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 2,322 shares of the aerospace company’s stock, valued at approximately $702,000.

Several other hedge funds have also recently made changes to their positions in the stock. Massachusetts Financial Services Co. MA boosted its stake in General Dynamics by 4.0% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 7,639,758 shares of the aerospace company’s stock worth $2,216,599,000 after purchasing an additional 293,316 shares during the period. Price T Rowe Associates Inc. MD grew its position in shares of General Dynamics by 2.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 4,782,612 shares of the aerospace company’s stock valued at $1,351,041,000 after purchasing an additional 115,063 shares in the last quarter. Ameriprise Financial Inc. increased its holdings in shares of General Dynamics by 2.4% in the second quarter. Ameriprise Financial Inc. now owns 2,071,803 shares of the aerospace company’s stock worth $601,756,000 after purchasing an additional 47,915 shares during the last quarter. Boston Partners lifted its position in shares of General Dynamics by 1.4% in the first quarter. Boston Partners now owns 1,680,666 shares of the aerospace company’s stock worth $474,927,000 after buying an additional 23,262 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in General Dynamics by 1.5% during the second quarter. Bank of New York Mellon Corp now owns 1,606,289 shares of the aerospace company’s stock valued at $466,049,000 after buying an additional 23,304 shares during the last quarter. 86.14% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have commented on GD shares. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $320.00 price objective on shares of General Dynamics in a research report on Thursday, July 25th. Citigroup upped their target price on shares of General Dynamics from $331.00 to $354.00 and gave the stock a “buy” rating in a research note on Thursday. Morgan Stanley raised shares of General Dynamics from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $293.00 to $345.00 in a research note on Friday, August 9th. Robert W. Baird reiterated an “outperform” rating and issued a $345.00 target price on shares of General Dynamics in a report on Tuesday, July 2nd. Finally, TD Cowen raised shares of General Dynamics to a “strong-buy” rating in a research note on Tuesday, October 8th. Seven research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $319.06.

General Dynamics Trading Up 1.1 %

NYSE:GD opened at $299.44 on Monday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.80 and a current ratio of 1.33. General Dynamics Co. has a one year low of $232.29 and a one year high of $309.97. The business’s 50-day simple moving average is $297.70 and its 200 day simple moving average is $293.71. The stock has a market cap of $82.16 billion, a price-to-earnings ratio of 24.42, a price-to-earnings-growth ratio of 1.67 and a beta of 0.61.

General Dynamics (NYSE:GD) last announced its quarterly earnings data 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). General Dynamics had a net margin of 7.89% and a return on equity of 16.74%. The firm had revenue of $11.98 billion for the quarter, compared to analyst estimates of $11.46 billion. During the same quarter in the previous year, the company earned $2.70 EPS. The company’s quarterly revenue was up 18.0% compared to the same quarter last year. As a group, sell-side analysts predict that General Dynamics Co. will post 14.38 earnings per share for the current fiscal year.

General Dynamics Announces Dividend

The firm 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 annualized dividend and a yield of 1.90%. The ex-dividend date of this dividend is Friday, October 11th. General Dynamics’s dividend payout ratio is currently 46.33%.

Insider Activity at General Dynamics

In other news, Director Peter A. Wall sold 1,320 shares of General Dynamics 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 transaction, the director now directly owns 3,592 shares in the company, valued at approximately $1,106,515.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.52% of the stock is owned by insiders.

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.