Private Advisor Group LLC Acquires 1,374 Shares of General Dynamics Co. (NYSE:GD)

Private Advisor Group LLC lifted its holdings in General Dynamics Co. (NYSE:GD) by 8.2% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 18,167 shares of the aerospace company’s stock after purchasing an additional 1,374 shares during the period. Private Advisor Group LLC’s holdings in General Dynamics were worth $5,490,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. Massachusetts Financial Services Co. MA increased 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 worth $2,216,599,000 after acquiring an additional 293,316 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in General Dynamics by 2.5% during 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 in the last quarter. Ameriprise Financial Inc. grew its holdings in General Dynamics by 2.4% during the 2nd quarter. Ameriprise Financial Inc. now owns 2,071,803 shares of the aerospace company’s stock valued at $601,756,000 after buying an additional 47,915 shares in the last quarter. Boston Partners grew its holdings in shares of 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 purchasing an additional 23,262 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in shares of 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 purchasing an additional 23,304 shares in the last quarter. Institutional investors own 86.14% of the company’s stock.

General Dynamics Trading Up 0.4 %

General Dynamics stock opened at $302.52 on Friday. The company has a quick ratio of 0.80, a current ratio of 1.33 and a debt-to-equity ratio of 0.33. General Dynamics Co. has a 52 week low of $236.58 and a 52 week high of $313.11. The company has a market capitalization of $83.13 billion, a price-to-earnings ratio of 23.60, a price-to-earnings-growth ratio of 1.72 and a beta of 0.61. The stock has a 50-day moving average price of $300.40 and a 200 day moving average price of $294.67.

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

General Dynamics Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, October 11th will be issued a $1.42 dividend. This represents a $5.68 dividend on an annualized basis and a yield of 1.88%. The ex-dividend date is Friday, October 11th. General Dynamics’s payout ratio is presently 44.31%.

Insider Buying and Selling at General Dynamics

In other news, Director Peter A. Wall sold 1,320 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The stock was 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 $1,106,515.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. 1.52% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages recently issued reports on GD. Sanford C. Bernstein lowered their price target on General Dynamics from $343.00 to $331.00 and set a “market perform” rating for the company in a research report on Thursday. Wells Fargo & Company lifted their target price on General Dynamics from $317.00 to $322.00 and gave the stock an “equal weight” rating in a research report on Thursday. Susquehanna lifted their target price on General Dynamics from $333.00 to $352.00 and gave the stock a “positive” rating in a research report on Thursday, October 17th. Barclays lifted their target price 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, Robert W. Baird reiterated an “outperform” rating and set a $345.00 target price on shares of General Dynamics in a research report on Tuesday, July 2nd. 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 MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $323.88.

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.