Brown Miller Wealth Management LLC Raises Stock Holdings in General Dynamics Co. (NYSE:GD)

Brown Miller Wealth Management LLC grew its position in General Dynamics Co. (NYSE:GD) by 1.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,615 shares of the aerospace company’s stock after acquiring an additional 95 shares during the quarter. Brown Miller Wealth Management LLC’s holdings in General Dynamics were worth $1,696,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Ritholtz Wealth Management lifted its position in shares of General Dynamics by 4.7% in the third quarter. Ritholtz Wealth Management now owns 11,026 shares of the aerospace company’s stock valued at $3,332,000 after acquiring an additional 497 shares in the last quarter. Silverlake Wealth Management LLC lifted its position in shares of General Dynamics by 23.4% in the third quarter. Silverlake Wealth Management LLC now owns 1,784 shares of the aerospace company’s stock valued at $539,000 after acquiring an additional 338 shares in the last quarter. Perfromance Wealth Partners LLC lifted its position in shares of General Dynamics by 22.4% in the third quarter. Perfromance Wealth Partners LLC now owns 1,832 shares of the aerospace company’s stock valued at $554,000 after acquiring an additional 335 shares in the last quarter. Fiduciary Financial Group LLC lifted its position in shares of General Dynamics by 3.9% in the third quarter. Fiduciary Financial Group LLC now owns 1,206 shares of the aerospace company’s stock valued at $358,000 after acquiring an additional 45 shares in the last quarter. Finally, Peak Financial Advisors LLC purchased a new position in General Dynamics during the third quarter worth approximately $3,022,000. Hedge funds and other institutional investors own 86.14% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on GD. Robert W. Baird reiterated an “outperform” rating and set a $345.00 price objective on shares of General Dynamics in a research report on Tuesday, July 2nd. Wells Fargo & Company downgraded General Dynamics from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $334.00 to $317.00 in a research report on Tuesday, October 1st. TD Cowen upgraded General Dynamics to a “strong-buy” rating in a research report on Tuesday, October 8th. Barclays lifted their price objective on General Dynamics from $310.00 to $325.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. Finally, Citigroup lifted their price objective on General Dynamics from $331.00 to $354.00 and gave the stock a “buy” rating in a research report on Thursday. Seven investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $319.06.

General Dynamics Trading Up 1.6 %

Shares of NYSE GD opened at $299.44 on Friday. General Dynamics Co. has a twelve month low of $232.29 and a twelve month high of $309.97. The company has a current ratio of 1.33, a quick ratio of 0.80 and a debt-to-equity ratio of 0.33. The stock has a fifty day simple moving average of $297.70 and a 200-day simple moving average of $293.62. The stock has a market capitalization of $82.28 billion, a PE ratio of 23.36, a PEG ratio of 1.67 and a beta of 0.61.

General Dynamics (NYSE:GD) last issued its quarterly earnings data on Wednesday, July 24th. The aerospace company reported $3.26 earnings per share for the quarter, missing analysts’ consensus estimates of $3.30 by ($0.04). General Dynamics had a net margin of 7.89% and a return on equity of 16.74%. The firm had revenue of $11.98 billion during the quarter, compared to analyst estimates of $11.46 billion. During the same period in the previous year, the firm posted $2.70 earnings per share. The company’s quarterly revenue was up 18.0% compared to the same quarter last year. On average, equities analysts forecast that General Dynamics Co. will post 14.38 earnings per share for the current year.

General Dynamics Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders 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 dividend on an annualized basis and a dividend yield of 1.90%. General Dynamics’s payout ratio is presently 44.31%.

Insider Activity at General Dynamics

In related news, Director Peter A. Wall sold 1,320 shares of General Dynamics 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 transaction, the director now directly owns 3,592 shares in the company, valued at approximately $1,106,515.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.52% of the stock is currently owned by company insiders.

About General Dynamics

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.