Global Wealth Management Investment Advisory Inc. Has $4.22 Million Holdings in General Dynamics Co. (NYSE:GD)

Global Wealth Management Investment Advisory Inc. lifted its stake in General Dynamics Co. (NYSE:GD) by 2.3% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 13,949 shares of the aerospace company’s stock after acquiring an additional 317 shares during the period. Global Wealth Management Investment Advisory Inc.’s holdings in General Dynamics were worth $4,215,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Massachusetts Financial Services Co. MA grew its holdings 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 valued at $2,216,599,000 after buying an additional 293,316 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of General Dynamics by 2.5% in the 1st 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 buying an additional 115,063 shares during the period. Ameriprise Financial Inc. grew its stake in General Dynamics by 2.4% in the second quarter. Ameriprise Financial Inc. now owns 2,071,803 shares of the aerospace company’s stock valued at $601,756,000 after acquiring an additional 47,915 shares during the period. Boston Partners grew its stake in General Dynamics by 1.4% in the first quarter. Boston Partners now owns 1,680,666 shares of the aerospace company’s stock valued at $474,927,000 after acquiring an additional 23,262 shares during the period. Finally, Bank of New York Mellon Corp grew its stake in General Dynamics by 1.5% in 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 acquiring an additional 23,304 shares during the period. 86.14% of the stock is owned by institutional investors.

Insider Activity at General Dynamics

In other news, Director Peter A. Wall sold 1,320 shares of the company’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 approximately $1,106,515.60. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.60% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several analysts recently issued reports on GD shares. Morgan Stanley upgraded General Dynamics from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $293.00 to $345.00 in a report on Friday, August 9th. Sanford C. Bernstein dropped their price objective 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. TD Cowen upgraded General Dynamics to a “strong-buy” rating in a research note on Tuesday, October 8th. Barclays upped their price objective on General Dynamics from $325.00 to $330.00 and gave the company an “overweight” rating in a research note on Tuesday, October 29th. Finally, Susquehanna upped their price objective on General Dynamics from $333.00 to $352.00 and gave the company a “positive” rating in a research note on Thursday, October 17th. Seven analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $323.69.

General Dynamics Stock Up 0.6 %

Shares of GD traded up $1.73 during trading hours on Tuesday, hitting $295.33. The stock had a trading volume of 41,547 shares, compared to its average volume of 1,092,267. The firm has a market capitalization of $81.21 billion, a P/E ratio of 22.36, a price-to-earnings-growth ratio of 1.75 and a beta of 0.61. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.32 and a quick ratio of 0.80. General Dynamics Co. has a 1-year low of $238.31 and a 1-year high of $313.11. The firm has a 50 day simple moving average of $300.88 and a 200-day simple moving average of $295.23.

General Dynamics (NYSE:GD) last posted its quarterly earnings results on Wednesday, October 23rd. The aerospace company reported $3.35 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 the consensus estimate of $11.65 billion. General Dynamics had a return on equity of 16.59% and a net margin of 7.90%. The company’s revenue for the quarter was up 10.4% compared to the same quarter last year. During the same period last year, the firm posted $3.04 EPS. Sell-side analysts predict that General Dynamics Co. will post 13.97 EPS for the current fiscal year.

General Dynamics Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, October 11th will be paid a $1.42 dividend. The ex-dividend date is Friday, October 11th. This represents a $5.68 dividend on an annualized basis and a yield of 1.92%. General Dynamics’s dividend payout ratio is 43.26%.

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.