General Dynamics Co. (NYSE:GD) Shares Purchased by Affinity Wealth Management LLC

Affinity Wealth Management LLC grew its position in shares of General Dynamics Co. (NYSE:GD) by 18.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 856 shares of the aerospace company’s stock after acquiring an additional 131 shares during the quarter. Affinity Wealth Management LLC’s holdings in General Dynamics were worth $259,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Modera Wealth Management LLC lifted its position in shares of General Dynamics by 0.4% during the second quarter. Modera Wealth Management LLC now owns 8,120 shares of the aerospace company’s stock worth $2,356,000 after purchasing an additional 35 shares in the last quarter. Rathbones Group PLC grew its stake in shares of General Dynamics by 1.8% during the second quarter. Rathbones Group PLC now owns 2,022 shares of the aerospace company’s stock valued at $587,000 after acquiring an additional 35 shares in the last quarter. Legend Financial Advisors Inc. increased its position in shares of General Dynamics by 46.8% during the first quarter. Legend Financial Advisors Inc. now owns 113 shares of the aerospace company’s stock worth $32,000 after acquiring an additional 36 shares during the last quarter. Diversified Trust Co lifted its stake in shares of General Dynamics by 2.5% in the first quarter. Diversified Trust Co now owns 1,503 shares of the aerospace company’s stock worth $425,000 after acquiring an additional 36 shares in the last quarter. Finally, Fulton Bank N.A. boosted its holdings in General Dynamics by 1.1% in the first quarter. Fulton Bank N.A. now owns 3,299 shares of the aerospace company’s stock valued at $932,000 after purchasing an additional 37 shares during the last quarter. 86.14% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on GD shares. Royal Bank of Canada reissued an “outperform” rating and issued a $320.00 target price on shares of General Dynamics in a research report on Thursday, July 25th. Deutsche Bank Aktiengesellschaft decreased their target price on General Dynamics from $320.00 to $314.00 and set a “hold” rating for the company in a research report on Thursday, October 3rd. Morgan Stanley upgraded General Dynamics from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $293.00 to $345.00 in a research note on Friday, August 9th. TD Cowen raised shares of General Dynamics to a “strong-buy” rating in a report on Tuesday, October 8th. Finally, Barclays lifted their price target on shares of General Dynamics from $310.00 to $325.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. Seven 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 company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $319.06.

General Dynamics Price Performance

Shares of General Dynamics stock traded down $0.54 during trading on Monday, hitting $298.90. The stock had a trading volume of 38,444 shares, compared to its average volume of 1,090,139. The business has a fifty day moving average of $297.70 and a two-hundred day moving average of $293.71. The firm has a market cap of $82.01 billion, a P/E ratio of 24.42, a PEG ratio of 1.67 and a beta of 0.61. General Dynamics Co. has a fifty-two week low of $232.29 and a fifty-two week high of $309.97. 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 posted its quarterly earnings data 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 business had revenue of $11.98 billion for the quarter, compared to the consensus estimate of $11.46 billion. During the same quarter last year, the business posted $2.70 EPS. The business’s revenue for the quarter was up 18.0% on a year-over-year basis. On average, sell-side analysts expect that General Dynamics Co. will post 14.38 earnings per share for the current fiscal year.

General Dynamics Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 11th will be given a dividend of $1.42 per share. The ex-dividend date is Friday, October 11th. This represents a $5.68 dividend on an annualized basis and a dividend yield of 1.90%. General Dynamics’s dividend payout ratio (DPR) is presently 46.33%.

Insider Transactions at General Dynamics

In other news, Director Peter A. Wall sold 1,320 shares of the business’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $308.05, for a total transaction of $406,626.00. Following the sale, the director now directly owns 3,592 shares of the company’s stock, valued at $1,106,515.60. The trade was 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 at this link. Corporate insiders own 1.52% of the company’s stock.

About General Dynamics

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.