Cornerstone Wealth Management LLC Buys 162 Shares of General Dynamics Co. (NYSE:GD)

Cornerstone Wealth Management LLC boosted its stake in shares of General Dynamics Co. (NYSE:GD) by 2.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,775 shares of the aerospace company’s stock after acquiring an additional 162 shares during the quarter. Cornerstone Wealth Management LLC’s holdings in General Dynamics were worth $1,745,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the business. McKinley Carter Wealth Services Inc. grew its stake in shares of General Dynamics by 3.8% during the third quarter. McKinley Carter Wealth Services Inc. now owns 7,171 shares of the aerospace company’s stock valued at $2,167,000 after buying an additional 263 shares during the last quarter. Griffin Asset Management Inc. grew its stake in shares of General Dynamics by 1.1% during the third quarter. Griffin Asset Management Inc. now owns 6,707 shares of the aerospace company’s stock valued at $2,027,000 after buying an additional 73 shares during the last quarter. Jamison Private Wealth Management Inc. boosted its holdings in shares of General Dynamics by 11.9% in the third quarter. Jamison Private Wealth Management Inc. now owns 7,828 shares of the aerospace company’s stock valued at $2,366,000 after purchasing an additional 831 shares during the period. Dover Advisors LLC boosted its holdings in shares of General Dynamics by 74.6% in the third quarter. Dover Advisors LLC now owns 3,257 shares of the aerospace company’s stock valued at $984,000 after purchasing an additional 1,392 shares during the period. Finally, SWS Partners boosted its holdings in shares of General Dynamics by 39,352.6% in the third quarter. SWS Partners now owns 7,496 shares of the aerospace company’s stock valued at $2,265,000 after purchasing an additional 7,477 shares during the period. Institutional investors own 86.14% of the company’s stock.

Insiders Place Their Bets

In other General Dynamics news, Director Peter A. Wall sold 1,320 shares of the 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 directly owns 3,592 shares of the company’s stock, valued at approximately $1,106,515.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.52% of the stock is owned by insiders.

General Dynamics Price Performance

NYSE GD opened at $308.29 on Friday. 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 stock’s fifty day moving average price is $299.03 and its 200 day moving average price is $294.14. General Dynamics Co. has a 1 year low of $232.29 and a 1 year high of $309.97. The company has a market cap of $84.58 billion, a price-to-earnings ratio of 25.15, a PEG ratio of 1.67 and a beta of 0.61.

General Dynamics (NYSE:GD) last announced its quarterly earnings results on Wednesday, July 24th. The aerospace company reported $3.26 earnings per share for the quarter, missing the consensus estimate of $3.30 by ($0.04). The company had revenue of $11.98 billion for the quarter, compared to analyst estimates of $11.46 billion. General Dynamics had a return on equity of 16.74% and a net margin of 7.89%. General Dynamics’s revenue for the quarter was up 18.0% on a year-over-year basis. During the same period in the prior year, the business posted $2.70 earnings per share. As a group, equities research analysts forecast that General Dynamics Co. will post 14.38 earnings per share for the current 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 given a dividend of $1.42 per share. This represents a $5.68 annualized dividend and a yield of 1.84%. The ex-dividend date of this dividend is Friday, October 11th. General Dynamics’s dividend payout ratio is currently 46.33%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on GD shares. Morgan Stanley upgraded General Dynamics from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $293.00 to $345.00 in a report on Friday, August 9th. Seaport Res Ptn lowered General Dynamics from a “strong-buy” rating to a “hold” rating in a report on Friday, October 11th. Robert W. Baird restated an “outperform” rating and set a $345.00 target price on shares of General Dynamics in a report on Tuesday, July 2nd. Citigroup upped their target price on General Dynamics from $331.00 to $354.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Finally, BTIG Research assumed coverage on General Dynamics in a report on Wednesday, June 26th. They set a “buy” rating and a $345.00 target price for the company. 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 company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $320.18.

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.