Strategic Wealth Partners Ltd. Invests $4.07 Million in General Dynamics Co. (NYSE:GD)

Strategic Wealth Partners Ltd. bought a new position in shares of General Dynamics Co. (NYSE:GD) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 13,481 shares of the aerospace company’s stock, valued at approximately $4,074,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Gladstone Capital Management LLP bought a new stake in General Dynamics in the fourth quarter valued at about $3,869,000. SWP Financial LLC bought a new stake in General Dynamics in the fourth quarter valued at about $227,000. Sanibel Captiva Trust Company Inc. bought a new stake in General Dynamics in the fourth quarter valued at about $28,107,000. Kingsview Wealth Management LLC increased its holdings in General Dynamics by 87.6% in the first quarter. Kingsview Wealth Management LLC now owns 14,690 shares of the aerospace company’s stock valued at $4,150,000 after buying an additional 6,858 shares during the last quarter. Finally, Clearbridge Investments LLC bought a new stake in General Dynamics in the first quarter valued at about $493,000. 86.14% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

GD has been the subject of several research analyst reports. Morgan Stanley raised General Dynamics from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $293.00 to $345.00 in a report on Friday, August 9th. Royal Bank of Canada reiterated an “outperform” rating and set a $320.00 price target on shares of General Dynamics in a research report on Thursday, July 25th. TD Cowen upgraded General Dynamics to a “strong-buy” rating in a research report on Tuesday. Barclays increased their price target on General Dynamics from $310.00 to $325.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. Finally, Wells Fargo & Company cut General Dynamics from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $334.00 to $317.00 in a research report on Tuesday, October 1st. Six research 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. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $317.06.

General Dynamics Stock Performance

Shares of GD stock opened at $296.90 on Wednesday. General Dynamics Co. has a 12-month low of $228.50 and a 12-month high of $309.97. The firm has a market capitalization of $81.46 billion, a price-to-earnings ratio of 24.22, a price-to-earnings-growth ratio of 1.68 and a beta of 0.61. The business has a 50 day simple moving average of $297.51 and a 200 day simple moving average of $293.32. 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 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). The firm 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 business’s revenue for the quarter was up 18.0% compared to the same quarter last year. During the same period in the previous year, the business posted $2.70 earnings per share. On average, equities research analysts anticipate that General Dynamics Co. will post 14.52 EPS for the current year.

General Dynamics Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, October 11th will be paid a dividend of $1.42 per share. This represents a $5.68 dividend on an annualized basis and a yield of 1.91%. The ex-dividend date is Friday, October 11th. General Dynamics’s payout ratio is currently 46.33%.

Insider Buying and Selling at General Dynamics

In other General Dynamics news, Director Peter A. Wall sold 1,320 shares of the 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 completion of the transaction, the director now directly owns 3,592 shares of the company’s stock, valued at approximately $1,106,515.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.52% of the stock is currently owned by corporate insiders.

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.