Nicholson Wealth Management Group LLC Takes $2.01 Million Position in General Dynamics Co. (NYSE:GD)

Nicholson Wealth Management Group LLC acquired a new position in General Dynamics Co. (NYSE:GD) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 6,644 shares of the aerospace company’s stock, valued at approximately $2,008,000. General Dynamics makes up approximately 1.6% of Nicholson Wealth Management Group LLC’s holdings, making the stock its 9th biggest position.

Other hedge funds have also bought and sold shares of the company. Coston McIsaac & Partners lifted its holdings in General Dynamics by 22.8% in the third quarter. Coston McIsaac & Partners now owns 178 shares of the aerospace company’s stock valued at $53,000 after acquiring an additional 33 shares during the period. Global X Japan Co. Ltd. boosted its stake in shares of General Dynamics by 2.3% during the 3rd quarter. Global X Japan Co. Ltd. now owns 1,482 shares of the aerospace company’s stock worth $448,000 after acquiring an additional 33 shares during the last quarter. Grove Bank & Trust raised its stake in shares of General Dynamics by 10.6% in the third quarter. Grove Bank & Trust now owns 354 shares of the aerospace company’s stock worth $107,000 after buying an additional 34 shares during the period. Modera Wealth Management LLC raised its holdings in General Dynamics by 0.4% during the second quarter. Modera Wealth Management LLC now owns 8,120 shares of the aerospace company’s stock valued at $2,356,000 after acquiring an additional 35 shares during the period. Finally, Rathbones Group PLC grew its position 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 worth $587,000 after purchasing an additional 35 shares in the last quarter. Hedge funds and other institutional investors own 86.14% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on GD shares. TD Cowen upgraded General Dynamics to a “strong-buy” rating in a research note on Tuesday, October 8th. Sanford C. Bernstein cut their target price on shares of General Dynamics from $343.00 to $331.00 and set a “market perform” rating for the company in a research note on Thursday. Citigroup boosted their price target on shares of General Dynamics from $331.00 to $354.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Wells Fargo & Company increased their price target on General Dynamics from $317.00 to $322.00 and gave the company an “equal weight” rating in a research note on Thursday. Finally, Barclays upped their price objective on General Dynamics from $310.00 to $325.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. Seven analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $323.88.

Insiders Place Their Bets

In other news, Director Peter A. Wall sold 1,320 shares of the firm’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 completion of the sale, the director now 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 through this hyperlink. Corporate insiders own 1.52% of the company’s stock.

General Dynamics Stock Performance

Shares of NYSE:GD opened at $301.27 on Friday. The company has a quick ratio of 0.80, a current ratio of 1.33 and a debt-to-equity ratio of 0.33. The company has a market capitalization of $82.66 billion, a price-to-earnings ratio of 24.57, a price-to-earnings-growth ratio of 1.67 and a beta of 0.61. The firm has a 50 day moving average of $300.17 and a 200 day moving average of $294.55. General Dynamics Co. has a 52 week low of $236.58 and a 52 week high of $313.11.

General Dynamics (NYSE:GD) last issued its quarterly earnings data on Wednesday, October 23rd. The aerospace company reported $3.35 earnings per share for the quarter, missing analysts’ consensus estimates of $3.48 by ($0.13). The company had revenue of $11.67 billion for the quarter, compared to the consensus estimate of $11.65 billion. General Dynamics had a net margin of 7.89% and a return on equity of 16.74%. General Dynamics’s revenue for the quarter was up 10.4% compared to the same quarter last year. During the same period in the previous year, the business earned $3.04 EPS. On average, sell-side analysts predict that General Dynamics Co. will post 14.38 earnings per share for the current fiscal year.

General Dynamics Dividend Announcement

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 yield of 1.89%. General Dynamics’s dividend payout ratio (DPR) is 46.33%.

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.