General Dynamics Co. (NYSE:GD) Shares Purchased by Dover Advisors LLC

Dover Advisors LLC boosted its holdings in General Dynamics Co. (NYSE:GD) by 74.6% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,257 shares of the aerospace company’s stock after acquiring an additional 1,392 shares during the period. Dover Advisors LLC’s holdings in General Dynamics were worth $984,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Kingsview Wealth Management LLC lifted its stake in 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 purchasing an additional 6,858 shares in the last quarter. Clearbridge Investments LLC acquired a new stake in shares of General Dynamics in the first quarter valued at $493,000. Wealth Enhancement Advisory Services LLC raised its stake in shares of General Dynamics by 2.4% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 147,736 shares of the aerospace company’s stock valued at $41,734,000 after acquiring an additional 3,531 shares in the last quarter. Cetera Investment Advisers raised its stake in shares of General Dynamics by 291.4% in the first quarter. Cetera Investment Advisers now owns 96,539 shares of the aerospace company’s stock valued at $27,271,000 after acquiring an additional 71,871 shares in the last quarter. Finally, Peak Financial Advisors LLC acquired a new stake in shares of General Dynamics in the third quarter valued at $3,022,000. 86.14% of the stock is currently owned by institutional investors and hedge funds.

General Dynamics Stock Performance

NYSE:GD traded down $1.57 during mid-day trading on Tuesday, reaching $300.29. The stock had a trading volume of 898,624 shares, compared to its average volume of 1,091,916. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.80 and a current ratio of 1.33. The firm has a market capitalization of $82.39 billion, a price-to-earnings ratio of 24.49, a PEG ratio of 1.67 and a beta of 0.61. General Dynamics Co. has a twelve month low of $232.29 and a twelve month high of $309.97. The business has a 50 day simple moving average of $298.03 and a 200 day simple moving average of $293.84.

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

General Dynamics Announces Dividend

The business also recently announced 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. This represents a $5.68 dividend on an annualized basis and a yield of 1.89%. The ex-dividend date of this dividend is Friday, October 11th. General Dynamics’s payout ratio is currently 46.33%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Citigroup increased their price objective on General Dynamics from $331.00 to $354.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Wells Fargo & Company lowered General Dynamics from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $334.00 to $317.00 in a report on Tuesday, October 1st. Seaport Res Ptn lowered General Dynamics from a “strong-buy” rating to a “hold” rating in a report on Friday. Barclays increased their target price on General Dynamics from $310.00 to $325.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. Finally, TD Cowen raised General Dynamics to a “strong-buy” rating in a report on Tuesday, October 8th. Seven investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $319.06.

Insider Activity at General Dynamics

In related 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 value of $406,626.00. Following the sale, the director now owns 3,592 shares of the company’s stock, valued at approximately $1,106,515.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.52% of the stock is owned by corporate insiders.

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.