Fiduciary Financial Group LLC Raises Stake in General Dynamics Co. (NYSE:GD)

Fiduciary Financial Group LLC lifted its holdings in General Dynamics Co. (NYSE:GD) by 3.9% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 1,206 shares of the aerospace company’s stock after acquiring an additional 45 shares during the quarter. Fiduciary Financial Group LLC’s holdings in General Dynamics were worth $358,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. Redmont Wealth Advisors LLC bought a new position in shares of General Dynamics in the first quarter worth approximately $25,000. Richardson Financial Services Inc. purchased a new position in shares of General Dynamics in the fourth quarter valued at about $25,000. American Capital Advisory LLC bought a new position in shares of General Dynamics during the second quarter valued at about $29,000. Lowe Wealth Advisors LLC purchased a new stake in shares of General Dynamics during the third quarter worth about $30,000. Finally, Financial Synergies Wealth Advisors Inc. bought a new stake in shares of General Dynamics in the first quarter worth about $29,000. Hedge funds and other institutional investors own 86.14% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on GD. Seaport Res Ptn cut General Dynamics from a “strong-buy” rating to a “hold” rating in a report on Friday. Deutsche Bank Aktiengesellschaft cut their price target on shares of General Dynamics from $320.00 to $314.00 and set a “hold” rating on the stock in a report on Thursday, October 3rd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $320.00 target price on shares of General Dynamics in a research report on Thursday, July 25th. Wells Fargo & Company cut shares of General Dynamics from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $334.00 to $317.00 in a research report on Tuesday, October 1st. Finally, Barclays increased their price target on shares of General Dynamics from $310.00 to $325.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. Seven investment 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’s stock. According to data from MarketBeat.com, General Dynamics presently has an average rating of “Moderate Buy” and a consensus price target of $319.06.

Insider Buying and Selling

In other General Dynamics 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 transaction, the director now owns 3,592 shares in the company, valued at approximately $1,106,515.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.52% of the stock is owned by corporate insiders.

General Dynamics Stock Performance

Shares of GD stock opened at $299.44 on Friday. The company has a market capitalization of $82.28 billion, a price-to-earnings ratio of 23.36, a price-to-earnings-growth ratio of 1.67 and a beta of 0.61. 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 company’s 50-day moving average is $297.70 and its 200 day moving average is $293.62.

General Dynamics (NYSE:GD) last announced its quarterly earnings results on Wednesday, July 24th. The aerospace company reported $3.26 earnings per share 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 the consensus estimate of $11.46 billion. During the same period last year, the business earned $2.70 EPS. General Dynamics’s revenue was up 18.0% on a year-over-year basis. Sell-side analysts expect that General Dynamics Co. will post 14.38 EPS for the current fiscal year.

General Dynamics Announces Dividend

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 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 1.90%. General Dynamics’s dividend payout ratio (DPR) is presently 44.31%.

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.