General Dynamics Co. (NYSE:GD) Shares Purchased by Allworth Financial LP

Allworth Financial LP grew its holdings in shares of General Dynamics Co. (NYSE:GD) by 2.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 25,643 shares of the aerospace company’s stock after purchasing an additional 704 shares during the quarter. Allworth Financial LP’s holdings in General Dynamics were worth $7,749,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of GD. CWC Advisors LLC. purchased a new stake in General Dynamics during the 3rd quarter valued at about $771,000. Trueblood Wealth Management LLC grew its position in shares of General Dynamics by 1.6% in the third quarter. Trueblood Wealth Management LLC now owns 2,223 shares of the aerospace company’s stock valued at $672,000 after purchasing an additional 34 shares in the last quarter. Lake Street Advisors Group LLC lifted its position in General Dynamics by 1.5% during the third quarter. Lake Street Advisors Group LLC now owns 3,056 shares of the aerospace company’s stock worth $924,000 after buying an additional 45 shares in the last quarter. Canal Capital Management LLC boosted its stake in General Dynamics by 6.3% during the third quarter. Canal Capital Management LLC now owns 21,441 shares of the aerospace company’s stock worth $6,480,000 after buying an additional 1,276 shares during the last quarter. Finally, Financial Partners Group LLC grew its holdings in General Dynamics by 331.5% in the 3rd quarter. Financial Partners Group LLC now owns 3,672 shares of the aerospace company’s stock valued at $1,110,000 after buying an additional 2,821 shares in the last quarter. Hedge funds and other institutional investors own 86.14% of the company’s stock.

Insider Buying and Selling

In other General Dynamics news, Director Peter A. Wall sold 1,320 shares of the firm’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $308.05, for a total value of $406,626.00. Following the sale, the director now directly owns 3,592 shares in the company, valued at $1,106,515.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.52% of the company’s stock.

General Dynamics Stock Up 0.4 %

Shares of NYSE GD opened at $302.52 on Friday. General Dynamics Co. has a 12-month low of $236.58 and a 12-month high of $313.11. The stock has a market cap of $83.13 billion, a P/E ratio of 23.60, a PEG ratio of 1.72 and a beta of 0.61. 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 business’s fifty day simple moving average is $300.40 and its 200-day simple moving average is $294.71.

General Dynamics (NYSE:GD) last announced its quarterly earnings data on Wednesday, October 23rd. The aerospace company reported $3.35 EPS for the quarter, missing analysts’ consensus estimates of $3.48 by ($0.13). General Dynamics had a return on equity of 16.74% and a net margin of 7.89%. The company had revenue of $11.67 billion for the quarter, compared to analyst estimates of $11.65 billion. During the same period in the prior year, the firm posted $3.04 earnings per share. The business’s quarterly revenue was up 10.4% compared to the same quarter last year. As a group, equities analysts predict that General Dynamics Co. will post 14.27 EPS for the current fiscal year.

General Dynamics Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 11th will be given a dividend of $1.42 per share. The ex-dividend date of this dividend is Friday, October 11th. This represents a $5.68 annualized dividend and a dividend yield of 1.88%. General Dynamics’s dividend payout ratio (DPR) is currently 44.31%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on GD shares. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of General Dynamics from $320.00 to $314.00 and set a “hold” rating for the company in a report on Thursday, October 3rd. Robert W. Baird restated an “outperform” rating and set a $345.00 price target on shares of General Dynamics in a report on Tuesday, July 2nd. Morgan Stanley upgraded General Dynamics from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $293.00 to $345.00 in a report on Friday, August 9th. Citigroup raised their target price on General Dynamics from $331.00 to $354.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Finally, TD Cowen raised 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, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $323.88.

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.