Pinnacle Associates Ltd. Has $12.58 Million Stock Position in General Dynamics Co. (NYSE:GD)

Pinnacle Associates Ltd. lowered its stake in General Dynamics Co. (NYSE:GD) by 0.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,621 shares of the aerospace company’s stock after selling 337 shares during the period. Pinnacle Associates Ltd.’s holdings in General Dynamics were worth $12,578,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. CWC Advisors LLC. acquired a new position in shares of General Dynamics during the third quarter worth $771,000. Kingsview Wealth Management LLC lifted 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 worth $4,150,000 after purchasing an additional 6,858 shares during the period. Clearbridge Investments LLC bought a new position in General Dynamics during the first quarter worth $493,000. Peak Financial Advisors LLC bought a new position in General Dynamics during the third quarter worth $3,022,000. Finally, Cetera Investment Advisers raised its stake in General Dynamics by 291.4% during the first quarter. Cetera Investment Advisers now owns 96,539 shares of the aerospace company’s stock worth $27,271,000 after buying an additional 71,871 shares during the last quarter. Institutional investors and hedge funds own 86.14% of the company’s stock.

Insider Buying and Selling

In other General Dynamics news, Director Peter A. Wall sold 1,320 shares of the company’s stock in a transaction 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 in the company, valued at $1,106,515.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.52% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

GD has been the subject of a number of analyst reports. Wells Fargo & Company lifted their target price on shares of General Dynamics from $317.00 to $322.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 24th. Barclays lifted their target price on shares of General Dynamics from $325.00 to $330.00 and gave the stock an “overweight” rating in a research note on Tuesday. Susquehanna lifted their target price on shares of General Dynamics from $333.00 to $352.00 and gave the stock a “positive” rating in a research note on Thursday, October 17th. Citigroup lifted their price target on shares of General Dynamics from $331.00 to $354.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Finally, Seaport Res Ptn downgraded shares of General Dynamics from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 11th. Seven investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $324.19.

General Dynamics Stock Down 0.1 %

Shares of NYSE GD opened at $301.37 on Thursday. The stock has a market capitalization of $82.87 billion, a P/E ratio of 24.58, a P/E/G ratio of 1.72 and a beta of 0.61. The company has a 50-day moving average price of $300.83 and a 200-day moving average price of $295.00. General Dynamics Co. has a 1 year low of $237.50 and a 1 year high of $313.11. 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 (NYSE:GD) last issued its quarterly earnings data on Wednesday, October 23rd. The aerospace company reported $3.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.48 by ($0.13). General Dynamics had a net margin of 7.89% and a return on equity of 16.74%. The business had revenue of $11.67 billion for the quarter, compared to analyst estimates of $11.65 billion. During the same quarter in the prior year, the business earned $3.04 earnings per share. The firm’s quarterly revenue was up 10.4% compared to the same quarter last year. On average, equities research analysts forecast that General Dynamics Co. will post 14.27 EPS 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. Investors 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 dividend yield of 1.88%. The ex-dividend date of this dividend is Friday, October 11th. General Dynamics’s payout ratio is 46.33%.

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.