General Dynamics Co. (NYSE:GD) Shares Bought by 1620 Investment Advisors Inc.

1620 Investment Advisors Inc. lifted its stake in shares of General Dynamics Co. (NYSE:GD) by 79.3% during the third quarter, Holdings Channel reports. The fund owned 2,238 shares of the aerospace company’s stock after purchasing an additional 990 shares during the quarter. 1620 Investment Advisors Inc.’s holdings in General Dynamics were worth $676,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. SteelPeak Wealth LLC acquired a new stake in General Dynamics in the 3rd quarter worth about $337,000. First Trust Direct Indexing L.P. grew its position in General Dynamics by 7.2% in the third quarter. First Trust Direct Indexing L.P. now owns 8,646 shares of the aerospace company’s stock valued at $2,613,000 after acquiring an additional 581 shares in the last quarter. Golden State Equity Partners lifted its position in shares of General Dynamics by 31.8% during the third quarter. Golden State Equity Partners now owns 5,618 shares of the aerospace company’s stock worth $1,698,000 after purchasing an additional 1,356 shares in the last quarter. Creekmur Asset Management LLC grew its holdings in General Dynamics by 90.6% during the 3rd quarter. Creekmur Asset Management LLC now owns 7,383 shares of the aerospace company’s stock valued at $2,231,000 after purchasing an additional 3,509 shares in the last quarter. Finally, GSB Wealth Management LLC increased its stake in General Dynamics by 0.5% during the 3rd quarter. GSB Wealth Management LLC now owns 7,621 shares of the aerospace company’s stock worth $2,303,000 after buying an additional 38 shares during the period. Hedge funds and other institutional investors own 86.14% of the company’s stock.

Insiders Place Their Bets

In related news, Director Peter A. Wall sold 1,320 shares of the stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $308.05, for a total transaction of $406,626.00. Following the completion of the sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.52% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on GD. Seaport Res Ptn downgraded General Dynamics from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 11th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of General Dynamics from $320.00 to $314.00 and set a “hold” rating for the company in a research note on Thursday, October 3rd. Sanford C. Bernstein dropped their target price on shares of General Dynamics from $343.00 to $331.00 and set a “market perform” rating for the company in a research report on Thursday, October 24th. Barclays boosted their price objective on General Dynamics from $325.00 to $330.00 and gave the company an “overweight” rating in a report on Tuesday. Finally, Wells Fargo & Company increased their target price on General Dynamics from $317.00 to $322.00 and gave the stock an “equal weight” rating in a report on Thursday, October 24th. Seven research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, General Dynamics presently has a consensus 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 stock’s 50 day moving average price is $300.83 and its 200 day moving average price is $295.00. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.33 and a quick ratio of 0.80. The stock has a market cap of $82.87 billion, a P/E ratio of 24.58, a P/E/G ratio of 1.72 and a beta of 0.61. General Dynamics Co. has a 12 month low of $237.50 and a 12 month high of $313.11.

General Dynamics (NYSE:GD) last announced its 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). The company had revenue of $11.67 billion during the quarter, compared to the consensus estimate of $11.65 billion. General Dynamics had a net margin of 7.89% and a return on equity of 16.74%. The business’s quarterly revenue was up 10.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.04 EPS. As a group, research analysts predict that General Dynamics Co. will post 14.27 earnings per share for the current year.

General Dynamics Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 11th will be issued a $1.42 dividend. The ex-dividend date of this dividend is Friday, October 11th. This represents a $5.68 annualized dividend and a dividend yield of 1.88%. General Dynamics’s dividend payout ratio (DPR) is 46.33%.

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.