Financial Partners Group LLC Acquires 2,821 Shares of General Dynamics Co. (NYSE:GD)

Financial Partners Group LLC lifted its holdings in General Dynamics Co. (NYSE:GD) by 331.5% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 3,672 shares of the aerospace company’s stock after buying an additional 2,821 shares during the period. Financial Partners Group LLC’s holdings in General Dynamics were worth $1,110,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Brookstone Capital Management boosted its stake in General Dynamics by 3.1% during the first quarter. Brookstone Capital Management now owns 21,368 shares of the aerospace company’s stock worth $6,036,000 after buying an additional 651 shares during the period. Wealthcare Advisory Partners LLC grew its holdings in General Dynamics by 114.7% during the 1st quarter. Wealthcare Advisory Partners LLC now owns 3,032 shares of the aerospace company’s stock valued at $857,000 after purchasing an additional 1,620 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its position in General Dynamics by 2.4% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 147,736 shares of the aerospace company’s stock worth $41,734,000 after purchasing an additional 3,531 shares during the period. Cypress Wealth Services LLC bought a new position in shares of General Dynamics during the first quarter valued at approximately $243,000. Finally, Courier Capital LLC raised its holdings in shares of General Dynamics by 22.6% in the first quarter. Courier Capital LLC now owns 7,844 shares of the aerospace company’s stock worth $2,216,000 after buying an additional 1,447 shares during the period. 86.14% of the stock is currently owned by hedge funds and other institutional investors.

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 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 sale, the director now owns 3,592 shares in the company, valued at approximately $1,106,515.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.52% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

GD has been the subject of a number of recent analyst reports. Seaport Res Ptn cut General Dynamics from a “strong-buy” rating to a “hold” rating in a report on Friday, October 11th. Wells Fargo & Company boosted their target price on shares of General Dynamics from $317.00 to $322.00 and gave the company an “equal weight” rating in a research note on Thursday. Susquehanna raised their price target on shares of General Dynamics from $333.00 to $352.00 and gave the stock a “positive” rating in a research note on Thursday, October 17th. Citigroup boosted their price objective 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. Finally, Barclays raised their target price on shares of General Dynamics from $310.00 to $325.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. Seven equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, General Dynamics currently has an average rating of “Moderate Buy” and an average target price of $323.88.

General Dynamics Price Performance

GD opened at $301.27 on Friday. General Dynamics Co. has a 1 year low of $236.58 and a 1 year high of $313.11. The firm has a market capitalization of $82.66 billion, a PE ratio of 24.57, a price-to-earnings-growth ratio of 1.67 and a beta of 0.61. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.33 and a quick ratio of 0.80. The business’s 50-day moving average is $300.17 and its two-hundred day moving average is $294.55.

General Dynamics (NYSE:GD) last posted 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). General Dynamics had a return on equity of 16.74% and a net margin of 7.89%. The business had revenue of $11.67 billion during the quarter, compared to analyst estimates of $11.65 billion. During the same period in the previous year, the business earned $3.04 EPS. The firm’s revenue for the quarter was up 10.4% compared to the same quarter last year. Research analysts anticipate that General Dynamics Co. will post 14.38 earnings per share for the current fiscal year.

General Dynamics Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, October 11th will be paid a dividend of $1.42 per share. The ex-dividend date of this dividend is Friday, October 11th. This represents a $5.68 dividend on an annualized basis and a yield of 1.89%. General Dynamics’s 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.