Lake Street Advisors Group LLC Increases Stake in General Dynamics Co. (NYSE:GD)

Lake Street Advisors Group LLC lifted its stake in shares of General Dynamics Co. (NYSE:GD) by 1.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,056 shares of the aerospace company’s stock after acquiring an additional 45 shares during the period. Lake Street Advisors Group LLC’s holdings in General Dynamics were worth $924,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Kingsview Wealth Management LLC boosted its holdings in shares of General Dynamics by 87.6% during the first quarter. Kingsview Wealth Management LLC now owns 14,690 shares of the aerospace company’s stock valued at $4,150,000 after acquiring an additional 6,858 shares during the period. Clearbridge Investments LLC bought a new stake in General Dynamics during the first quarter worth approximately $493,000. 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 purchasing an additional 71,871 shares in the last quarter. Peak Financial Advisors LLC acquired a new position in shares of General Dynamics in the third quarter valued at $3,022,000. Finally, Bank of Montreal Can raised its stake in General Dynamics by 1.0% during the second quarter. Bank of Montreal Can now owns 1,337,726 shares of the aerospace company’s stock worth $402,375,000 after acquiring an additional 13,855 shares in the last quarter. Hedge funds and other institutional investors own 86.14% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on GD shares. TD Cowen upgraded General Dynamics to a “strong-buy” rating in a research note on Tuesday, October 8th. Royal Bank of Canada lifted their target price on General Dynamics from $320.00 to $330.00 and gave the company an “outperform” rating in a research report on Thursday. Sanford C. Bernstein lowered their price target on General Dynamics from $343.00 to $331.00 and set a “market perform” rating on the stock in a research report on Thursday. Barclays lifted their target price on General Dynamics from $310.00 to $325.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. Finally, Morgan Stanley upgraded General Dynamics from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $293.00 to $345.00 in a research note on Friday, August 9th. Seven analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $323.88.

General Dynamics Stock Performance

NYSE:GD opened at $302.52 on Friday. The stock has a 50-day simple moving average of $300.28 and a two-hundred day simple moving average of $294.60. General Dynamics Co. has a 52-week low of $236.58 and a 52-week high of $313.11. 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 $83.00 billion, a PE ratio of 24.68, a P/E/G ratio of 1.67 and a beta of 0.61.

General Dynamics (NYSE:GD) last posted its earnings results on Wednesday, October 23rd. The aerospace company reported $3.35 EPS for the quarter, missing analysts’ consensus estimates of $3.48 by ($0.13). General Dynamics had a return on equity of 16.74% and a net margin of 7.89%. The firm had revenue of $11.67 billion during the quarter, compared to analysts’ expectations of $11.65 billion. During the same quarter in the prior year, the firm posted $3.04 earnings per share. General Dynamics’s quarterly revenue was up 10.4% on a year-over-year basis. Analysts forecast that General Dynamics Co. will post 14.38 EPS for the current year.

General Dynamics Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 11th will be paid a dividend of $1.42 per share. The ex-dividend date of this dividend is Friday, October 11th. This represents a $5.68 dividend on an annualized basis and a dividend yield of 1.88%. General Dynamics’s dividend payout ratio is 46.33%.

Insider Activity

In related news, Director Peter A. Wall sold 1,320 shares of the 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 transaction, the director now 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.52% of the company’s stock.

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.