General Dynamics Co. (NYSE:GD) Shares Bought by Lake Street Advisors Group LLC

Lake Street Advisors Group LLC raised its position in General Dynamics Co. (NYSE:GD) by 1.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 3,056 shares of the aerospace company’s stock after buying an additional 45 shares during the period. Lake Street Advisors Group LLC’s holdings in General Dynamics were worth $924,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of the business. Kingsview Wealth Management LLC raised its position in shares of General Dynamics by 87.6% during the 1st quarter. Kingsview Wealth Management LLC now owns 14,690 shares of the aerospace company’s stock valued at $4,150,000 after buying an additional 6,858 shares during the period. Clearbridge Investments LLC acquired a new position in shares of General Dynamics in the first quarter worth $493,000. Cetera Investment Advisers grew its stake in shares of General Dynamics by 291.4% during the first quarter. Cetera Investment Advisers now owns 96,539 shares of the aerospace company’s stock worth $27,271,000 after purchasing an additional 71,871 shares in the last quarter. Peak Financial Advisors LLC acquired a new position in shares of General Dynamics during the third quarter worth $3,022,000. Finally, Bank of Montreal Can grew its stake in shares of General Dynamics by 1.0% during the second quarter. Bank of Montreal Can now owns 1,337,726 shares of the aerospace company’s stock worth $402,375,000 after purchasing an additional 13,855 shares in the last quarter. 86.14% of the stock is owned by hedge funds and other institutional investors.

General Dynamics Price Performance

Shares of GD stock opened at $302.52 on Friday. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.33 and a quick ratio of 0.80. General Dynamics Co. has a 1-year low of $236.58 and a 1-year high of $313.11. The firm has a fifty day moving average of $300.28 and a two-hundred day moving average of $294.60. The firm has a market cap of $83.00 billion, a P/E ratio of 24.68, a P/E/G ratio of 1.67 and a beta of 0.61.

General Dynamics (NYSE:GD) last announced its quarterly earnings data on Wednesday, October 23rd. The aerospace company reported $3.35 earnings per share for the quarter, missing analysts’ consensus estimates of $3.48 by ($0.13). General Dynamics had a net margin of 7.89% and a return on equity of 16.74%. The business had revenue of $11.67 billion for the quarter, compared to the consensus estimate of $11.65 billion. During the same period in the prior year, the company earned $3.04 EPS. General Dynamics’s quarterly revenue was up 10.4% on a year-over-year basis. As a group, research analysts anticipate that General Dynamics Co. will post 14.38 earnings per share for the current fiscal 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 paid a dividend of $1.42 per share. This represents a $5.68 dividend on an annualized basis and a yield of 1.88%. The ex-dividend date is Friday, October 11th. General Dynamics’s payout ratio is 46.33%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on GD. Susquehanna boosted their price target on shares of General Dynamics from $333.00 to $352.00 and gave the company a “positive” rating in a research report on Thursday, October 17th. Robert W. Baird reissued an “outperform” rating and set a $345.00 price target on shares of General Dynamics in a report on Tuesday, July 2nd. Seaport Res Ptn cut shares of General Dynamics from a “strong-buy” rating to a “hold” rating in a report on Friday, October 11th. Royal Bank of Canada increased their price target on shares of General Dynamics from $320.00 to $330.00 and gave the stock an “outperform” rating in a report on Thursday. Finally, Morgan Stanley raised shares of General Dynamics from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $293.00 to $345.00 in a report on Friday, August 9th. Seven investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $323.88.

Insider Buying and Selling at General Dynamics

In other General Dynamics news, Director Peter A. Wall sold 1,320 shares of the business’s stock in a transaction dated Monday, September 16th. The shares were 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 of the company’s stock, valued at $1,106,515.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.52% of the stock is currently owned by company insiders.

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.