General Dynamics Corporation $GD Stock Acquired by Park Avenue Securities LLC

Park Avenue Securities LLC boosted its position in General Dynamics Corporation (NYSE:GD) by 11.9% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,640 shares of the aerospace company’s stock after purchasing an additional 1,775 shares during the quarter. Park Avenue Securities LLC’s holdings in General Dynamics were worth $5,522,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Verdence Capital Advisors LLC raised its stake in General Dynamics by 0.4% in the 3rd quarter. Verdence Capital Advisors LLC now owns 8,204 shares of the aerospace company’s stock worth $2,722,000 after purchasing an additional 36 shares in the last quarter. CPR Investments Inc. grew its position in shares of General Dynamics by 16.2% during the 3rd quarter. CPR Investments Inc. now owns 797 shares of the aerospace company’s stock worth $264,000 after purchasing an additional 111 shares in the last quarter. Westover Capital Advisors LLC increased its holdings in shares of General Dynamics by 5.7% during the third quarter. Westover Capital Advisors LLC now owns 15,268 shares of the aerospace company’s stock worth $5,066,000 after purchasing an additional 817 shares during the period. Leo Wealth LLC bought a new position in shares of General Dynamics during the third quarter worth approximately $214,000. Finally, Apollon Wealth Management LLC increased its holdings in shares of General Dynamics by 10.7% during the third quarter. Apollon Wealth Management LLC now owns 24,893 shares of the aerospace company’s stock worth $8,260,000 after purchasing an additional 2,406 shares during the period. 86.14% of the stock is owned by institutional investors and hedge funds.

General Dynamics Trading Down 0.2%

Shares of General Dynamics stock opened at $354.26 on Thursday. The company has a quick ratio of 0.96, a current ratio of 1.44 and a debt-to-equity ratio of 0.23. General Dynamics Corporation has a 12-month low of $306.77 and a 12-month high of $400.00. The company has a market capitalization of $95.85 billion, a price-to-earnings ratio of 21.61, a PEG ratio of 2.04 and a beta of 0.33. The firm’s 50-day moving average price is $352.16 and its two-hundred day moving average price is $354.92.

General Dynamics (NYSE:GD) last issued its earnings results on Wednesday, July 29th. The aerospace company reported $4.24 EPS for the quarter, beating the consensus estimate of $3.96 by $0.28. General Dynamics had a net margin of 8.18% and a return on equity of 17.43%. The company had revenue of $14.09 billion during the quarter, compared to analysts’ expectations of $13.52 billion. During the same period in the previous year, the company earned $3.74 EPS. The business’s revenue for the quarter was up 8.1% compared to the same quarter last year. On average, analysts forecast that General Dynamics Corporation will post 16.99 earnings per share for the current fiscal year.

General Dynamics Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Friday, October 9th will be paid a $1.59 dividend. This represents a $6.36 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend is Friday, October 9th. General Dynamics’s dividend payout ratio (DPR) is 38.80%.

Insider Activity at General Dynamics

In other General Dynamics news, Director Robert K. Steel sold 7,440 shares of the business’s stock in a transaction that occurred on Wednesday, September 23rd. The shares were sold at an average price of $346.05, for a total transaction of $2,574,612.00. Following the completion of the transaction, the director directly owned 3,096 shares in the company, valued at $1,071,370.80. The trade was a 70.62% 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. Also, EVP Marguerite Gilliland sold 43,180 shares of the company’s stock in a transaction on Friday, July 31st. The stock was sold at an average price of $378.04, for a total value of $16,323,767.20. Following the sale, the executive vice president owned 44,767 shares of the company’s stock, valued at $16,923,716.68. The trade was a 49.10% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 102,188 shares of company stock valued at $38,627,265 over the last three months. 1.40% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Wall Street Zen downgraded shares of General Dynamics from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 1st. Jefferies Financial Group increased their price target on General Dynamics from $400.00 to $440.00 and gave the stock a “buy” rating in a research report on Thursday, July 9th. BNP Paribas Exane raised their price objective on General Dynamics from $390.00 to $430.00 and gave the stock an “outperform” rating in a research note on Thursday, July 30th. UBS Group lifted their price objective on General Dynamics from $395.00 to $408.00 and gave the company a “neutral” rating in a report on Tuesday, September 8th. Finally, Royal Bank Of Canada dropped their price objective on General Dynamics from $410.00 to $360.00 and set a “sector perform” rating for the company in a report on Thursday, October 15th. Eleven analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, General Dynamics has an average rating of “Moderate Buy” and a consensus price target of $402.44.

About General Dynamics

General Dynamics Corporation (NYSE: GD) is a global aerospace and defense company that develops, manufactures and supports products and services for government and commercial customers. Its operations serve the U.S. government, allied nations and other customers worldwide, with a significant focus on national security, military modernization and mission support.

The company operates through four primary business areas. Aerospace provides Gulfstream business jets and related aircraft services through Gulfstream Aerospace, as well as aircraft management, charter, maintenance and completions services through Jet Aviation.