Beaumont Financial Advisors LLC Trims Stock Holdings in General Dynamics Co. (NYSE:GD)

Beaumont Financial Advisors LLC lessened its position in shares of General Dynamics Co. (NYSE:GD) by 5.0% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 12,865 shares of the aerospace company’s stock after selling 678 shares during the quarter. Beaumont Financial Advisors LLC’s holdings in General Dynamics were worth $3,888,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. Pinnacle Bancorp Inc. increased its holdings in General Dynamics by 10.8% in the 3rd quarter. Pinnacle Bancorp Inc. now owns 2,311 shares of the aerospace company’s stock worth $698,000 after buying an additional 225 shares during the period. Unison Advisors LLC boosted its holdings in shares of General Dynamics by 0.5% in the 3rd quarter. Unison Advisors LLC now owns 16,849 shares of the aerospace company’s stock valued at $5,092,000 after acquiring an additional 83 shares during the last quarter. High Note Wealth LLC increased its stake in shares of General Dynamics by 2.7% in the third quarter. High Note Wealth LLC now owns 7,922 shares of the aerospace company’s stock worth $2,394,000 after acquiring an additional 212 shares during the period. Sanibel Captiva Trust Company Inc. raised its holdings in shares of General Dynamics by 1.9% during the third quarter. Sanibel Captiva Trust Company Inc. now owns 109,789 shares of the aerospace company’s stock worth $33,178,000 after purchasing an additional 2,038 shares during the last quarter. Finally, Daymark Wealth Partners LLC lifted its position in General Dynamics by 0.5% during the third quarter. Daymark Wealth Partners LLC now owns 8,967 shares of the aerospace company’s stock valued at $2,710,000 after purchasing an additional 43 shares during the period. 86.14% of the stock is owned by institutional investors and hedge funds.

General Dynamics Trading Down 0.9 %

Shares of General Dynamics stock opened at $296.09 on Friday. The company has a current ratio of 1.33, a quick ratio of 0.80 and a debt-to-equity ratio of 0.33. General Dynamics Co. has a twelve month low of $232.29 and a twelve month high of $309.97. The firm has a market capitalization of $81.36 billion, a PE ratio of 23.10, a P/E/G ratio of 1.67 and a beta of 0.61. The firm’s 50-day moving average price is $297.56 and its 200 day moving average price is $293.37.

General Dynamics (NYSE:GD) last released its earnings results on Wednesday, July 24th. The aerospace company reported $3.26 earnings per share for the quarter, missing the consensus estimate of $3.30 by ($0.04). General Dynamics had a net margin of 7.89% and a return on equity of 16.74%. The firm had revenue of $11.98 billion during the quarter, compared to analysts’ expectations of $11.46 billion. During the same quarter last year, the business earned $2.70 EPS. The business’s revenue was up 18.0% compared to the same quarter last year. On average, sell-side analysts predict that General Dynamics Co. will post 14.38 EPS for the current fiscal 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 issued a dividend of $1.42 per share. This represents a $5.68 dividend on an annualized basis and a dividend yield of 1.92%. The ex-dividend date of this dividend is Friday, October 11th. General Dynamics’s payout ratio is 44.31%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Morgan Stanley raised General Dynamics from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $293.00 to $345.00 in a research report on Friday, August 9th. Deutsche Bank Aktiengesellschaft dropped their target price on General Dynamics from $320.00 to $314.00 and set a “hold” rating on the stock in a report on Thursday, October 3rd. TD Cowen raised General Dynamics to a “strong-buy” rating in a report on Tuesday. Barclays raised their price objective on shares of General Dynamics from $310.00 to $325.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $320.00 target price on shares of General Dynamics in a research note on Thursday, July 25th. Six investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $319.06.

Insider Activity

In related news, Director Peter A. Wall sold 1,320 shares of the business’s stock in a transaction dated 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 1.52% of the company’s stock.

General Dynamics Company 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.