Pathway Financial Advisers LLC Has $1.53 Million Holdings in General Dynamics Co. (NYSE:GD)

Pathway Financial Advisers LLC lessened its stake in General Dynamics Co. (NYSE:GD) by 3.3% during the third quarter, Holdings Channel reports. The firm owned 5,050 shares of the aerospace company’s stock after selling 170 shares during the period. Pathway Financial Advisers LLC’s holdings in General Dynamics were worth $1,526,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. Diversified Trust Co grew its position in General Dynamics by 2.5% during the first quarter. Diversified Trust Co now owns 1,503 shares of the aerospace company’s stock worth $425,000 after buying an additional 36 shares in the last quarter. Miracle Mile Advisors LLC grew its stake in shares of General Dynamics by 3.7% in the 1st quarter. Miracle Mile Advisors LLC now owns 1,979 shares of the aerospace company’s stock worth $559,000 after buying an additional 71 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its stake in shares of General Dynamics by 0.6% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 615,575 shares of the aerospace company’s stock worth $173,894,000 after buying an additional 3,370 shares during the last quarter. Redmont Wealth Advisors LLC purchased a new stake in General Dynamics during the 1st quarter valued at $25,000. Finally, Cornerstone Wealth Management LLC boosted its stake in General Dynamics by 16.8% during the 1st quarter. Cornerstone Wealth Management LLC now owns 5,393 shares of the aerospace company’s stock valued at $1,524,000 after purchasing an additional 777 shares during the last quarter. 86.14% of the stock is currently owned by institutional investors.

General Dynamics Stock Performance

GD opened at $301.80 on Wednesday. General Dynamics Co. has a twelve month low of $237.35 and a twelve month high of $313.11. The stock has a market cap of $82.99 billion, a PE ratio of 24.62, a price-to-earnings-growth ratio of 1.72 and a beta of 0.61. The business’s 50 day moving average is $300.69 and its 200-day moving average is $294.95. 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 (NYSE:GD) last posted its quarterly earnings data on Wednesday, October 23rd. The aerospace company reported $3.35 earnings per share for the quarter, missing the consensus estimate 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 for the quarter, compared to analysts’ expectations of $11.65 billion. During the same quarter in the previous year, the firm posted $3.04 earnings per share. The company’s revenue for the quarter was up 10.4% on a year-over-year basis. On average, analysts predict that General Dynamics Co. will post 14.27 earnings per share for the current 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. This represents a $5.68 annualized dividend and a yield of 1.88%. The ex-dividend date of this dividend is Friday, October 11th. General Dynamics’s dividend payout ratio is currently 46.33%.

Wall Street Analysts Forecast Growth

GD has been the topic of a number of recent research reports. Wells Fargo & Company raised their target price on General Dynamics from $317.00 to $322.00 and gave the stock an “equal weight” rating in a report on Thursday, October 24th. Seaport Res Ptn lowered General Dynamics from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 11th. Susquehanna boosted their price objective on General Dynamics from $333.00 to $352.00 and gave the company a “positive” rating in a report on Thursday, October 17th. Royal Bank of Canada upped their target price on General Dynamics from $320.00 to $330.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Finally, TD Cowen raised General Dynamics to a “strong-buy” rating in a research report on Tuesday, October 8th. Seven equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $324.19.

Insiders Place Their Bets

In other 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 value of $406,626.00. Following the completion of the transaction, the director now 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 is accessible through this link. Company 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.