Revolve Wealth Partners LLC Cuts Stock Position in General Dynamics Co. (NYSE:GD)

Revolve Wealth Partners LLC trimmed its position in shares of General Dynamics Co. (NYSE:GD) by 4.5% in the third quarter, HoldingsChannel.com reports. The fund owned 840 shares of the aerospace company’s stock after selling 40 shares during the period. Revolve Wealth Partners LLC’s holdings in General Dynamics were worth $254,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Kingsview Wealth Management LLC increased its position in shares of General Dynamics by 87.6% during the first quarter. Kingsview Wealth Management LLC now owns 14,690 shares of the aerospace company’s stock worth $4,150,000 after acquiring an additional 6,858 shares during the period. Clearbridge Investments LLC purchased a new stake in General Dynamics during the 1st quarter worth about $493,000. Wealth Enhancement Advisory Services LLC raised its position in General Dynamics by 2.4% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 147,736 shares of the aerospace company’s stock valued at $41,734,000 after purchasing an additional 3,531 shares in the last quarter. Cetera Investment Advisers boosted its stake in shares of General Dynamics by 291.4% in the 1st quarter. Cetera Investment Advisers now owns 96,539 shares of the aerospace company’s stock valued at $27,271,000 after buying an additional 71,871 shares during the period. Finally, Peak Financial Advisors LLC purchased a new stake in shares of General Dynamics during the third quarter worth approximately $3,022,000. 86.14% of the stock is owned by institutional investors and hedge funds.

General Dynamics Price Performance

Shares of NYSE:GD opened at $308.48 on Monday. 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 $310.58. The company has a 50-day simple moving average of $299.34 and a 200-day simple moving average of $294.30. The stock has a market capitalization of $84.64 billion, a price-to-earnings ratio of 25.16, a PEG ratio of 1.67 and a beta of 0.61.

General Dynamics (NYSE:GD) last posted its quarterly earnings data on Wednesday, July 24th. The aerospace company reported $3.26 earnings per share for the quarter, missing analysts’ consensus estimates of $3.30 by ($0.04). The company had revenue of $11.98 billion for the quarter, compared to analyst estimates of $11.46 billion. General Dynamics had a return on equity of 16.74% and a net margin of 7.89%. The firm’s revenue was up 18.0% compared to the same quarter last year. During the same period in the previous year, the business posted $2.70 earnings per share. On average, analysts predict that General Dynamics Co. will post 14.38 EPS for the current year.

General Dynamics Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, October 11th will be paid a $1.42 dividend. The ex-dividend date of this dividend is Friday, October 11th. This represents a $5.68 annualized dividend and a yield of 1.84%. General Dynamics’s dividend payout ratio is currently 46.33%.

Insiders Place Their Bets

In other news, Director Peter A. Wall sold 1,320 shares of General Dynamics stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $308.05, for a total value of $406,626.00. Following the sale, the director now owns 3,592 shares of the company’s stock, valued at $1,106,515.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale 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 insiders.

Analysts Set New Price Targets

A number of research analysts recently issued reports on GD shares. Citigroup lifted their price target on shares of General Dynamics from $331.00 to $354.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Royal Bank of Canada reiterated an “outperform” rating and set a $320.00 target price on shares of General Dynamics in a research note on Thursday, July 25th. Robert W. Baird restated an “outperform” rating and issued a $345.00 price target on shares of General Dynamics in a research note on Tuesday, July 2nd. Barclays upped their price objective on General Dynamics from $310.00 to $325.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. Finally, Wells Fargo & Company lowered General Dynamics from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $334.00 to $317.00 in a research report on Tuesday, October 1st. Seven research 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 MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $320.18.

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.