GSB Wealth Management LLC Increases Position in General Dynamics Co. (NYSE:GD)

GSB Wealth Management LLC increased its stake in shares of General Dynamics Co. (NYSE:GD) by 0.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,621 shares of the aerospace company’s stock after buying an additional 38 shares during the quarter. GSB Wealth Management LLC’s holdings in General Dynamics were worth $2,303,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the stock. MFA Wealth Advisors LLC lifted its holdings in shares of General Dynamics by 241.7% in the 3rd quarter. MFA Wealth Advisors LLC now owns 82 shares of the aerospace company’s stock valued at $25,000 after buying an additional 58 shares during the period. Redmont Wealth Advisors LLC purchased a new position in General Dynamics during the 1st quarter valued at about $25,000. American Capital Advisory LLC acquired a new position in General Dynamics during the second quarter worth about $29,000. Lowe Wealth Advisors LLC purchased a new stake in shares of General Dynamics in the third quarter valued at about $30,000. Finally, New Covenant Trust Company N.A. acquired a new stake in shares of General Dynamics in the first quarter valued at approximately $29,000. Institutional investors and hedge funds own 86.14% of the company’s stock.

General Dynamics Stock Down 0.7 %

Shares of NYSE GD opened at $301.80 on Wednesday. The firm has a market cap of $82.99 billion, a price-to-earnings ratio of 24.62, a PEG ratio of 1.72 and a beta of 0.61. General Dynamics Co. has a 1 year low of $237.35 and a 1 year high of $313.11. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.80 and a current ratio of 1.33. The stock’s 50-day simple moving average is $300.69 and its 200-day simple moving average is $294.95.

General Dynamics (NYSE:GD) last announced its quarterly earnings data on Wednesday, October 23rd. The aerospace company reported $3.35 earnings per share for the quarter, missing the consensus estimate of $3.48 by ($0.13). General Dynamics had a return on equity of 16.74% and a net margin of 7.89%. The company had revenue of $11.67 billion for the quarter, compared to analyst estimates of $11.65 billion. During the same period in the prior year, the business earned $3.04 earnings per share. General Dynamics’s revenue was up 10.4% on a year-over-year basis. As a group, equities analysts anticipate that General Dynamics Co. will post 14.27 earnings per share for the current fiscal year.

General Dynamics Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, October 11th will be issued a $1.42 dividend. This represents a $5.68 annualized dividend and a dividend yield of 1.88%. The ex-dividend date is Friday, October 11th. General Dynamics’s dividend payout ratio (DPR) is 46.33%.

Insiders Place Their Bets

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 shares were sold at an average price of $308.05, for a total transaction of $406,626.00. Following the completion of the transaction, the director now directly owns 3,592 shares of the company’s stock, valued at $1,106,515.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.52% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on GD shares. Robert W. Baird restated an “outperform” rating and set a $345.00 price objective on shares of General Dynamics in a research report on Tuesday, July 2nd. Seaport Res Ptn downgraded General Dynamics from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 11th. Royal Bank of Canada lifted their price target on shares of General Dynamics from $320.00 to $330.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Susquehanna boosted their price target on General Dynamics from $333.00 to $352.00 and gave the company a “positive” rating in a report on Thursday, October 17th. Finally, Sanford C. Bernstein reduced their price target on General Dynamics from $343.00 to $331.00 and set a “market perform” rating on the stock in a research note on Thursday, October 24th. Seven analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $324.19.

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.