General Dynamics Co. (NYSE:GD) Shares Purchased by Accordant Advisory Group Inc

Accordant Advisory Group Inc lifted its holdings in shares of General Dynamics Co. (NYSE:GD) by 15.4% during the 3rd quarter, Holdings Channel.com reports. The firm owned 749 shares of the aerospace company’s stock after acquiring an additional 100 shares during the period. Accordant Advisory Group Inc’s holdings in General Dynamics were worth $226,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Redmont Wealth Advisors LLC purchased a new stake in shares of General Dynamics during the 1st quarter worth about $25,000. New Covenant Trust Company N.A. purchased a new position in shares of General Dynamics in the first quarter valued at $29,000. American Capital Advisory LLC acquired a new stake in shares of General Dynamics during the second quarter valued at about $29,000. Lowe Wealth Advisors LLC acquired a new stake in General Dynamics during the 3rd quarter valued at approximately $30,000. Finally, Legend Financial Advisors Inc. increased its stake in shares of General Dynamics by 46.8% in the first quarter. Legend Financial Advisors Inc. now owns 113 shares of the aerospace company’s stock worth $32,000 after buying an additional 36 shares during the last quarter. Hedge funds and other institutional investors own 86.14% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on GD shares. Morgan Stanley upgraded General Dynamics from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $293.00 to $345.00 in a research note 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. Susquehanna increased their price target on General Dynamics from $333.00 to $352.00 and gave the company a “positive” rating in a research note on Thursday, October 17th. Seaport Res Ptn cut General Dynamics from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 11th. Finally, BTIG Research began coverage on shares of General Dynamics in a report on Wednesday, June 26th. They issued a “buy” rating and a $345.00 price target for the company. Seven research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $320.18.

Insider Activity at General Dynamics

In other news, Director Peter A. Wall sold 1,320 shares of the firm’s 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 sale, the director now directly owns 3,592 shares of the company’s stock, valued at $1,106,515.60. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.52% of the company’s stock.

General Dynamics Stock Down 0.7 %

Shares of General Dynamics stock opened at $305.92 on Wednesday. The company has a current ratio of 1.33, a quick ratio of 0.80 and a debt-to-equity ratio of 0.33. General Dynamics Co. has a 1 year low of $232.29 and a 1 year high of $310.85. The stock has a 50-day moving average price of $299.96 and a 200 day moving average price of $294.48. The company has a market cap of $83.93 billion, a P/E ratio of 24.95, a P/E/G ratio of 1.67 and a beta of 0.61.

General Dynamics (NYSE:GD) last announced its quarterly earnings data on Wednesday, July 24th. The aerospace company reported $3.26 EPS for the quarter, missing analysts’ consensus estimates of $3.30 by ($0.04). The company had revenue of $11.98 billion for the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same period in the previous year, the firm posted $2.70 earnings per share. As a group, analysts expect that General Dynamics Co. will post 14.38 EPS for the current fiscal year.

General Dynamics Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, October 11th will be issued a dividend of $1.42 per share. The ex-dividend date of this dividend is Friday, October 11th. This represents a $5.68 annualized dividend and a dividend yield of 1.86%. General Dynamics’s dividend payout ratio is 46.33%.

General Dynamics 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.