1858 Wealth Management LLC Has $930,000 Position in General Dynamics Co. (NYSE:GD)

1858 Wealth Management LLC trimmed its stake in General Dynamics Co. (NYSE:GD) by 2.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,078 shares of the aerospace company’s stock after selling 79 shares during the quarter. 1858 Wealth Management LLC’s holdings in General Dynamics were worth $930,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Grove Bank & Trust raised its position in shares of General Dynamics by 10.6% during the third quarter. Grove Bank & Trust now owns 354 shares of the aerospace company’s stock worth $107,000 after purchasing an additional 34 shares during the period. Modera Wealth Management LLC lifted its stake in shares of General Dynamics by 0.4% in the second quarter. Modera Wealth Management LLC now owns 8,120 shares of the aerospace company’s stock valued at $2,356,000 after buying an additional 35 shares in the last quarter. Rathbones Group PLC grew its holdings 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 buying an additional 35 shares during the last quarter. Legend Financial Advisors Inc. raised its holdings in shares of General Dynamics by 46.8% in the 1st 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. Finally, Diversified Trust Co raised its holdings in shares of General Dynamics by 2.5% in the 1st quarter. Diversified Trust Co now owns 1,503 shares of the aerospace company’s stock worth $425,000 after acquiring an additional 36 shares during the last quarter. 86.14% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have commented on GD shares. Seaport Res Ptn lowered General Dynamics from a “strong-buy” rating to a “hold” rating in a report on Friday, October 11th. TD Cowen upgraded General Dynamics to a “strong-buy” rating in a report on Tuesday, October 8th. Barclays raised their price objective on General Dynamics from $310.00 to $325.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. Wells Fargo & Company lowered shares of General Dynamics from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $334.00 to $317.00 in a research note on Tuesday, October 1st. Finally, Citigroup raised their price target on shares of General Dynamics from $331.00 to $354.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Seven analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $320.18.

Insider Buying and Selling at General Dynamics

In other General Dynamics 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 value of $406,626.00. Following the sale, the director now directly owns 3,592 shares in the company, 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 filing with the SEC, which is available through the SEC website. Corporate insiders own 1.52% of the company’s stock.

General Dynamics Stock Performance

Shares of GD traded down $0.45 during mid-day trading on Monday, hitting $308.03. The stock had a trading volume of 308,415 shares, compared to its average volume of 1,087,060. The firm has a market cap of $84.51 billion, a P/E ratio of 25.16, a PEG ratio of 1.67 and a beta of 0.61. The business has a fifty day moving average price of $299.34 and a 200-day moving average price of $294.30. 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 Co. has a 52 week low of $232.29 and a 52 week high of $310.85.

General Dynamics (NYSE:GD) last issued its earnings results on Wednesday, July 24th. The aerospace company reported $3.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.30 by ($0.04). The firm had revenue of $11.98 billion during 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 quarterly revenue was up 18.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.70 earnings per share. On average, equities research analysts expect that General Dynamics Co. will post 14.38 EPS for the current year.

General Dynamics Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, October 11th will be paid a $1.42 dividend. The ex-dividend date of this dividend is Friday, October 11th. This represents a $5.68 annualized dividend and a dividend yield of 1.84%. General Dynamics’s payout ratio is presently 46.33%.

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.