Diversify Advisory Services LLC Cuts Stock Position in General Dynamics Co. (NYSE:GD)

Diversify Advisory Services LLC lessened its stake in shares of General Dynamics Co. (NYSE:GD) by 33.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,954 shares of the aerospace company’s stock after selling 1,487 shares during the quarter. Diversify Advisory Services LLC’s holdings in General Dynamics were worth $904,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. Coston McIsaac & Partners raised its position in General Dynamics by 22.8% in the third quarter. Coston McIsaac & Partners now owns 178 shares of the aerospace company’s stock worth $53,000 after acquiring an additional 33 shares in the last quarter. Global X Japan Co. Ltd. raised its position in General Dynamics by 2.3% in the third quarter. Global X Japan Co. Ltd. now owns 1,482 shares of the aerospace company’s stock worth $448,000 after acquiring an additional 33 shares in the last quarter. Grove Bank & Trust raised its position in General Dynamics by 10.6% in the third quarter. Grove Bank & Trust now owns 354 shares of the aerospace company’s stock worth $107,000 after acquiring an additional 34 shares in the last quarter. Trueblood Wealth Management LLC raised its position in General Dynamics by 1.6% in the third quarter. Trueblood Wealth Management LLC now owns 2,223 shares of the aerospace company’s stock worth $672,000 after acquiring an additional 34 shares in the last quarter. Finally, Modera Wealth Management LLC raised its position in General Dynamics by 0.4% in the second quarter. Modera Wealth Management LLC now owns 8,120 shares of the aerospace company’s stock worth $2,356,000 after acquiring an additional 35 shares in the last quarter. Hedge funds and other institutional investors own 86.14% of the company’s stock.

Wall Street Analysts Forecast Growth

GD has been the subject of several research analyst reports. Seaport Res Ptn cut General Dynamics from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 11th. Sanford C. Bernstein lowered their target price on General Dynamics from $343.00 to $331.00 and set a “market perform” rating on the stock in a report on Thursday, October 24th. Wells Fargo & Company upped their target price on General Dynamics from $317.00 to $322.00 and gave the company an “equal weight” rating in a report on Thursday, October 24th. Citigroup upped their target price on General Dynamics from $331.00 to $354.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on General Dynamics from $320.00 to $314.00 and set a “hold” rating on the stock in a report on Thursday, October 3rd. Seven investment 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 company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $324.19.

General Dynamics Stock Down 0.1 %

GD opened at $301.37 on Thursday. The company has a quick ratio of 0.80, a current ratio of 1.33 and a debt-to-equity ratio of 0.33. The firm has a market cap of $82.87 billion, a P/E ratio of 24.58, a PEG ratio of 1.72 and a beta of 0.61. General Dynamics Co. has a 52 week low of $237.50 and a 52 week high of $313.11. The business’s fifty day simple moving average is $300.83 and its 200 day simple moving average is $295.00.

General Dynamics (NYSE:GD) last released its earnings results on Wednesday, October 23rd. The aerospace company reported $3.35 earnings per share for the quarter, missing the consensus estimate of $3.48 by ($0.13). General Dynamics had a return on equity of 16.74% and a net margin of 7.89%. The business had revenue of $11.67 billion for the quarter, compared to analysts’ expectations of $11.65 billion. During the same quarter last year, the company 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 research analysts anticipate that General Dynamics Co. will post 14.27 EPS for the current fiscal year.

General Dynamics Dividend Announcement

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 dividend of $1.42 per share. The ex-dividend date is Friday, October 11th. This represents a $5.68 annualized dividend and a yield of 1.88%. General Dynamics’s dividend payout ratio (DPR) is presently 46.33%.

Insider Buying and Selling

In related news, Director Peter A. Wall sold 1,320 shares of the stock in a transaction dated 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 represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through 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.