General Dynamics Co. (NYSE:GD) Shares Sold by SeaCrest Wealth Management LLC

SeaCrest Wealth Management LLC reduced its holdings in shares of General Dynamics Co. (NYSE:GD) by 0.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,338 shares of the aerospace company’s stock after selling 41 shares during the quarter. SeaCrest Wealth Management LLC’s holdings in General Dynamics were worth $1,915,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the business. Grove Bank & Trust boosted its holdings in General Dynamics by 10.6% in the 3rd quarter. Grove Bank & Trust now owns 354 shares of the aerospace company’s stock worth $107,000 after acquiring an additional 34 shares during the period. Modera Wealth Management LLC grew its holdings in General Dynamics by 0.4% during the 2nd quarter. Modera Wealth Management LLC now owns 8,120 shares of the aerospace company’s stock valued at $2,356,000 after purchasing an additional 35 shares in the last quarter. Rathbones Group PLC increased its stake in General Dynamics by 1.8% during the 2nd quarter. Rathbones Group PLC now owns 2,022 shares of the aerospace company’s stock worth $587,000 after buying an additional 35 shares during the period. Legend Financial Advisors Inc. lifted its holdings in General Dynamics by 46.8% in the 1st quarter. Legend Financial Advisors Inc. now owns 113 shares of the aerospace company’s stock worth $32,000 after buying an additional 36 shares in the last quarter. Finally, Diversified Trust Co boosted its position in General Dynamics by 2.5% in the 1st quarter. Diversified Trust Co now owns 1,503 shares of the aerospace company’s stock valued at $425,000 after buying an additional 36 shares during the last quarter. Institutional investors and hedge funds own 86.14% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Citigroup boosted their price target on General Dynamics from $331.00 to $354.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Seaport Res Ptn downgraded shares of General Dynamics from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 11th. Robert W. Baird reaffirmed an “outperform” rating and issued a $345.00 price target on shares of General Dynamics in a report on Tuesday, July 2nd. TD Cowen raised shares of General Dynamics to a “strong-buy” rating in a research report on Tuesday, October 8th. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on shares of General Dynamics from $320.00 to $314.00 and set a “hold” rating on the stock in a research report on Thursday, October 3rd. Seven investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $319.06.

Insider Activity

In related news, Director Peter A. Wall sold 1,320 shares of the firm’s 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 in the company, valued at approximately $1,106,515.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 1.52% of the company’s stock.

General Dynamics Stock Performance

GD stock traded up $2.69 during trading on Wednesday, reaching $302.90. 20,156 shares of the company’s stock were exchanged, compared to its average volume of 1,086,557. General Dynamics Co. has a 1-year low of $232.29 and a 1-year high of $309.97. The firm has a market cap of $83.10 billion, a PE ratio of 24.49, a P/E/G ratio of 1.67 and a beta of 0.61. The company’s fifty day moving average price is $298.33 and its 200-day moving average price is $293.97. 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 (NYSE:GD) last announced its 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). The company had revenue of $11.98 billion during the quarter, compared to the consensus estimate of $11.46 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 18.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.70 EPS. On average, research analysts expect that General Dynamics Co. will post 14.38 EPS for the current fiscal year.

General Dynamics Dividend Announcement

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. This represents a $5.68 annualized dividend and a yield of 1.88%. The ex-dividend date is Friday, October 11th. General Dynamics’s dividend payout ratio (DPR) is presently 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.