WealthBridge Capital Management LLC Makes New $250,000 Investment in General Dynamics Co. (NYSE:GD)

WealthBridge Capital Management LLC acquired a new position in shares of General Dynamics Co. (NYSE:GD) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 827 shares of the aerospace company’s stock, valued at approximately $250,000.

Other hedge funds also recently modified their holdings of the company. Gladstone Capital Management LLP bought a new position in General Dynamics during the fourth quarter valued at about $3,869,000. SWP Financial LLC bought a new stake in shares of General Dynamics during the fourth quarter valued at approximately $227,000. Sanibel Captiva Trust Company Inc. bought a new position in shares of General Dynamics during the 4th quarter worth about $28,107,000. Evercore Wealth Management LLC boosted its holdings in General Dynamics by 1.5% during the fourth quarter. Evercore Wealth Management LLC now owns 5,355 shares of the aerospace company’s stock valued at $1,391,000 after purchasing an additional 78 shares in the last quarter. Finally, Kingsview Wealth Management LLC lifted its position in shares of General Dynamics by 87.6% during the 1st quarter. Kingsview Wealth Management LLC now owns 14,690 shares of the aerospace company’s stock worth $4,150,000 after buying an additional 6,858 shares during the period. 86.14% of the stock is owned by institutional investors.

General Dynamics Trading Down 1.1 %

Shares of NYSE GD opened at $297.29 on Tuesday. The company has a quick ratio of 0.80, a current ratio of 1.33 and a debt-to-equity ratio of 0.33. General Dynamics Co. has a twelve month low of $228.50 and a twelve month high of $309.97. The company’s fifty day moving average is $297.27 and its 200-day moving average is $293.09. The stock has a market cap of $81.57 billion, a price-to-earnings ratio of 24.25, a P/E/G ratio of 1.68 and a beta of 0.61.

General Dynamics (NYSE:GD) last posted its earnings results on Wednesday, July 24th. The aerospace company reported $3.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $11.46 billion. During the same period in the previous year, the firm posted $2.70 earnings per share. The firm’s revenue was up 18.0% on a year-over-year basis. Equities research analysts predict that General Dynamics Co. will post 14.52 EPS for the current 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. This represents a $5.68 annualized dividend and a dividend yield of 1.91%. The ex-dividend date is Friday, October 11th. General Dynamics’s dividend payout ratio is 46.33%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Wells Fargo & Company lowered General Dynamics from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $334.00 to $317.00 in a research note on Tuesday, October 1st. BTIG Research initiated coverage on shares of General Dynamics in a report on Wednesday, June 26th. They set a “buy” rating and a $345.00 price objective for the company. Royal Bank of Canada restated an “outperform” rating and set a $320.00 price target on shares of General Dynamics in a research report on Thursday, July 25th. Robert W. Baird reiterated an “outperform” rating and issued a $345.00 price objective on shares of General Dynamics in a research report on Tuesday, July 2nd. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on General Dynamics from $320.00 to $314.00 and set a “hold” rating for the company in a research note on Thursday, October 3rd. Six investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $317.06.

Insider Buying and Selling

In related news, Director Peter A. Wall sold 1,320 shares of the stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $308.05, for a total transaction of $406,626.00. Following the completion of the transaction, the director now directly owns 3,592 shares in the company, valued at approximately $1,106,515.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.52% of the stock is currently owned by company insiders.

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.