1858 Wealth Management LLC Trims Holdings in General Dynamics Co. (NYSE:GD)

1858 Wealth Management LLC cut its stake in General Dynamics Co. (NYSE:GD) by 2.5% in the 3rd quarter, Holdings Channel.com reports. The firm owned 3,078 shares of the aerospace company’s stock after selling 79 shares during the quarter. 1858 Wealth Management LLC’s holdings in General Dynamics were worth $930,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in GD. Redmont Wealth Advisors LLC purchased a new position in General Dynamics during the first quarter worth about $25,000. Financial Synergies Wealth Advisors Inc. purchased a new position in General Dynamics during the first quarter worth about $29,000. New Covenant Trust Company N.A. purchased a new position in General Dynamics during the first quarter worth about $29,000. American Capital Advisory LLC purchased a new position in General Dynamics during the second quarter worth about $29,000. Finally, Lowe Wealth Advisors LLC purchased a new position in General Dynamics during the third quarter worth about $30,000. 86.14% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at General Dynamics

In other 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 completion of the transaction, the director now owns 3,592 shares of the company’s stock, valued at approximately $1,106,515.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.52% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have recently issued reports on GD. Deutsche Bank Aktiengesellschaft cut their price objective on General Dynamics from $320.00 to $314.00 and set a “hold” rating for the company in a report on Thursday, October 3rd. Wells Fargo & Company cut General Dynamics from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $334.00 to $317.00 in a report on Tuesday, October 1st. Susquehanna upped their price objective on General Dynamics from $333.00 to $352.00 and gave the stock a “positive” rating in a report on Thursday. Royal Bank of Canada reiterated an “outperform” rating and issued a $320.00 price objective on shares of General Dynamics in a report on Thursday, July 25th. Finally, Citigroup upped their price objective on General Dynamics from $331.00 to $354.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Seven equities research 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’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $320.18.

General Dynamics Trading Down 0.1 %

GD traded down $0.45 during midday trading on Monday, reaching $308.03. 308,415 shares of the company’s stock traded hands, compared to its average volume of 1,087,060. The firm has a fifty day moving average of $299.34 and a two-hundred day moving average of $294.30. The stock has a market capitalization of $84.51 billion, a price-to-earnings ratio of 25.16, a P/E/G ratio of 1.67 and a beta of 0.61. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.33 and a quick ratio of 0.80. General Dynamics Co. has a 52 week low of $232.29 and a 52 week high of $310.85.

General Dynamics (NYSE:GD) last released its quarterly earnings results on Wednesday, July 24th. The aerospace company reported $3.26 EPS for the quarter, missing analysts’ consensus estimates of $3.30 by ($0.04). The business had revenue of $11.98 billion for 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 company’s revenue for the quarter was up 18.0% on a year-over-year basis. During the same period in the previous year, the company earned $2.70 EPS. On average, equities analysts anticipate that General Dynamics Co. will post 14.38 earnings per share 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 dividend of $1.42 per share. This represents a $5.68 dividend on an annualized basis and a yield of 1.84%. The ex-dividend date of this dividend is Friday, October 11th. General Dynamics’s payout ratio is 46.33%.

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.