Avantax Advisory Services Inc. increased its position in shares of General Dynamics Co. (NYSE:GD) by 104.2% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 10,311 shares of the aerospace company’s stock after buying an additional 5,262 shares during the period. Avantax Advisory Services Inc.’s holdings in General Dynamics were worth $1,428,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in GD. Larson Financial Group LLC purchased a new position in General Dynamics in the second quarter valued at approximately $30,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in General Dynamics in the second quarter valued at approximately $31,000. Balentine LLC increased its stake in General Dynamics by 281.8% in the second quarter. Balentine LLC now owns 210 shares of the aerospace company’s stock valued at $31,000 after purchasing an additional 155 shares during the last quarter. FinTrust Capital Advisors LLC increased its stake in General Dynamics by 95.3% in the first quarter. FinTrust Capital Advisors LLC now owns 289 shares of the aerospace company’s stock valued at $38,000 after purchasing an additional 141 shares during the last quarter. Finally, Rockbridge Investment Management LCC purchased a new position in General Dynamics in the second quarter valued at approximately $43,000. Hedge funds and other institutional investors own 84.98% of the company’s stock.
In other General Dynamics news, VP William A. Moss sold 4,778 shares of the firm’s stock in a transaction on Thursday, September 24th. The stock was sold at an average price of $136.68, for a total value of $653,057.04. Following the completion of the sale, the vice president now owns 12,241 shares of the company’s stock, valued at $1,673,099.88. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 6.60% of the stock is currently owned by company insiders.
A number of equities analysts have recently issued reports on the stock. TheStreet lowered shares of General Dynamics from a “b-” rating to a “c+” rating in a research report on Thursday, July 9th. Barclays lowered their target price on shares of General Dynamics from $170.00 to $165.00 and set an “overweight” rating on the stock in a research report on Thursday, October 1st. They noted that the move was a valuation call. Jefferies Financial Group restated a “hold” rating and set a $160.00 target price on shares of General Dynamics in a research report on Tuesday, August 11th. Argus lowered shares of General Dynamics from a “buy” rating to a “hold” rating in a research report on Monday, August 3rd. Finally, Robert W. Baird lowered shares of General Dynamics from an “outperform” rating to a “neutral” rating and lowered their target price for the stock from $167.00 to $149.00 in a research report on Friday, October 2nd. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have issued a buy rating to the stock. General Dynamics currently has an average rating of “Hold” and an average target price of $173.19.
Shares of NYSE GD opened at $142.24 on Friday. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.27 and a quick ratio of 0.87. The stock has a fifty day moving average price of $144.54 and a 200 day moving average price of $144.00. General Dynamics Co. has a 1-year low of $100.55 and a 1-year high of $190.08. The company has a market cap of $40.81 billion, a PE ratio of 12.63, a P/E/G ratio of 2.52 and a beta of 1.02.
General Dynamics (NYSE:GD) last released its earnings results on Wednesday, July 29th. The aerospace company reported $2.18 EPS for the quarter, beating analysts’ consensus estimates of $2.15 by $0.03. General Dynamics had a return on equity of 24.10% and a net margin of 8.47%. The company had revenue of $9.26 billion during the quarter, compared to the consensus estimate of $9.03 billion. During the same quarter last year, the company earned $2.77 earnings per share. General Dynamics’s quarterly revenue was down 3.0% compared to the same quarter last year. Analysts anticipate that General Dynamics Co. will post 11.04 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Shareholders of record on Friday, October 9th will be issued a $1.10 dividend. This represents a $4.40 dividend on an annualized basis and a yield of 3.09%. The ex-dividend date of this dividend is Thursday, October 8th. General Dynamics’s dividend payout ratio (DPR) is currently 36.73%.
General Dynamics Company Profile
General Dynamics Corporation operates as an aerospace and defense company worldwide. It operates in five segments: Aerospace, Combat Systems, Information Technology, Mission Systems, and Marine Systems. The Aerospace segment designs, manufactures, and supports business-jet aircraft; and offers business-aviation services, including maintenance, fixed-base operation, government fleet, aircraft management, charter, and staffing services, as well as integrated aviation solutions.
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