B. Riley Wealth Advisors Inc. Has $1.75 Million Position in General Dynamics Co. (NYSE:GD)

B. Riley Wealth Advisors Inc. lessened its stake in shares of General Dynamics Co. (NYSE:GD) by 17.5% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 5,807 shares of the aerospace company’s stock after selling 1,235 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in General Dynamics were worth $1,751,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of GD. Coston McIsaac & Partners lifted its holdings in shares of General Dynamics by 22.8% during the third quarter. Coston McIsaac & Partners now owns 178 shares of the aerospace company’s stock worth $53,000 after buying an additional 33 shares in the last quarter. Global X Japan Co. Ltd. boosted its holdings in General Dynamics by 2.3% in the 3rd quarter. Global X Japan Co. Ltd. now owns 1,482 shares of the aerospace company’s stock valued at $448,000 after purchasing an additional 33 shares during the period. Grove Bank & Trust grew its position in shares of General Dynamics by 10.6% during the 3rd quarter. Grove Bank & Trust now owns 354 shares of the aerospace company’s stock worth $107,000 after purchasing an additional 34 shares in the last quarter. Trueblood Wealth Management LLC increased its holdings in shares of General Dynamics by 1.6% during the third quarter. Trueblood Wealth Management LLC now owns 2,223 shares of the aerospace company’s stock worth $672,000 after purchasing an additional 34 shares during the period. Finally, Modera Wealth Management LLC raised its position in shares of General Dynamics by 0.4% in the second quarter. Modera Wealth Management LLC now owns 8,120 shares of the aerospace company’s stock valued at $2,356,000 after buying an additional 35 shares in the last quarter. Institutional investors own 86.14% of the company’s stock.

Insider Activity

In other news, VP Christopher J. Brady sold 5,540 shares of the company’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $280.91, for a total value of $1,556,241.40. Following the sale, the vice president now directly owns 20,296 shares of the company’s stock, valued at approximately $5,701,349.36. This represents a 21.44 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 1.52% of the company’s stock.

General Dynamics Stock Performance

NYSE:GD opened at $266.03 on Tuesday. The stock’s 50-day moving average is $291.21 and its 200-day moving average is $293.49. The stock has a market cap of $73.15 billion, a P/E ratio of 20.26, a price-to-earnings-growth ratio of 1.63 and a beta of 0.59. General Dynamics Co. has a 1-year low of $247.36 and a 1-year high of $316.90. The company has a current ratio of 1.32, a quick ratio of 0.80 and a debt-to-equity ratio of 0.32.

General Dynamics (NYSE:GD) last announced its quarterly earnings results on Wednesday, October 23rd. The aerospace company reported $3.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.48 by ($0.13). The business had revenue of $11.67 billion during the quarter, compared to analyst estimates of $11.65 billion. General Dynamics had a net margin of 7.90% and a return on equity of 16.59%. The company’s revenue was up 10.4% compared to the same quarter last year. During the same quarter last year, the company posted $3.04 earnings per share. Equities research analysts anticipate that General Dynamics Co. will post 13.87 earnings per share for the current year.

General Dynamics announced that its Board of Directors has approved a share buyback plan on Wednesday, December 4th that permits the company to buyback 10,000,000 outstanding shares. This buyback authorization permits the aerospace company to buy shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its stock is undervalued.

General Dynamics Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Friday, January 17th will be given a $1.42 dividend. The ex-dividend date is Friday, January 17th. This represents a $5.68 dividend on an annualized basis and a dividend yield of 2.14%. General Dynamics’s dividend payout ratio (DPR) is presently 43.26%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Seaport Res Ptn downgraded General Dynamics from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 11th. Sanford C. Bernstein decreased their price target on General Dynamics from $343.00 to $331.00 and set a “market perform” rating on the stock in a research report on Thursday, October 24th. Royal Bank of Canada upped their price objective on shares of General Dynamics from $320.00 to $330.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Wells Fargo & Company decreased their target price on shares of General Dynamics from $322.00 to $295.00 and set an “equal weight” rating on the stock in a report on Wednesday, December 11th. Finally, Barclays upped their price target on shares of General Dynamics from $325.00 to $330.00 and gave the stock an “overweight” rating in a report on Tuesday, October 29th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $317.38.

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.