General Dynamics Co. (NYSE:GD) Shares Acquired by Griffin Asset Management Inc.

Griffin Asset Management Inc. increased its position in General Dynamics Co. (NYSE:GD) by 1.1% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 6,707 shares of the aerospace company’s stock after purchasing an additional 73 shares during the period. Griffin Asset Management Inc.’s holdings in General Dynamics were worth $2,027,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Redmont Wealth Advisors LLC acquired a new position in General Dynamics in the first quarter valued at approximately $25,000. Richardson Financial Services Inc. acquired a new position in General Dynamics in the fourth quarter valued at approximately $25,000. American Capital Advisory LLC acquired a new position in General Dynamics in the second quarter valued at approximately $29,000. Lowe Wealth Advisors LLC acquired a new position in General Dynamics in the third quarter valued at approximately $30,000. Finally, Financial Synergies Wealth Advisors Inc. acquired a new position in General Dynamics in the first quarter valued at approximately $29,000. 86.14% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other General Dynamics news, Director Peter A. Wall sold 1,320 shares of General Dynamics 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 transaction, the director now directly owns 3,592 shares in the company, valued at approximately $1,106,515.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.52% of the stock is currently owned by company insiders.

General Dynamics Trading Down 0.5 %

General Dynamics stock opened at $300.29 on Wednesday. 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 cap of $82.39 billion, a price-to-earnings ratio of 24.49, a price-to-earnings-growth ratio of 1.67 and a beta of 0.61. General Dynamics Co. has a 1 year low of $232.29 and a 1 year high of $309.97. The firm’s 50 day moving average price is $298.33 and its two-hundred day moving average price is $293.97.

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 the consensus estimate of $3.30 by ($0.04). The business had revenue of $11.98 billion during 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 company’s quarterly revenue was up 18.0% compared to the same quarter last year. During the same quarter last year, the firm posted $2.70 EPS. On average, research analysts predict that General Dynamics Co. will post 14.38 EPS for the current fiscal year.

General Dynamics Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, October 11th will be given 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 1.89%. General Dynamics’s dividend payout ratio (DPR) is 46.33%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on GD. Royal Bank of Canada restated an “outperform” rating and issued a $320.00 target price on shares of General Dynamics in a research note on Thursday, July 25th. Robert W. Baird reaffirmed an “outperform” rating and set a $345.00 price target on shares of General Dynamics in a report on Tuesday, July 2nd. Wells Fargo & Company cut General Dynamics from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $334.00 to $317.00 in a report on Tuesday, October 1st. Deutsche Bank Aktiengesellschaft cut their price target on General Dynamics from $320.00 to $314.00 and set a “hold” rating on the stock in a report on Thursday, October 3rd. Finally, BTIG Research initiated coverage on General Dynamics in a report on Wednesday, June 26th. They set a “buy” rating and a $345.00 price target on the stock. Seven analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $319.06.

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.