Greystone Financial Group LLC Makes New $228,000 Investment in General Dynamics Co. (NYSE:GD)

Greystone Financial Group LLC bought a new position in shares of General Dynamics Co. (NYSE:GD) during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund bought 756 shares of the aerospace company’s stock, valued at approximately $228,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. CENTRAL TRUST Co increased its position in General Dynamics by 1.3% during the 3rd quarter. CENTRAL TRUST Co now owns 27,011 shares of the aerospace company’s stock worth $8,163,000 after purchasing an additional 335 shares during the period. X Square Capital LLC grew its holdings in shares of General Dynamics by 3.4% in the 3rd quarter. X Square Capital LLC now owns 11,087 shares of the aerospace company’s stock worth $3,351,000 after acquiring an additional 367 shares during the period. Patrick M Sweeney & Associates Inc. grew its holdings in shares of General Dynamics by 21.4% in the 3rd quarter. Patrick M Sweeney & Associates Inc. now owns 1,321 shares of the aerospace company’s stock worth $399,000 after acquiring an additional 233 shares during the period. Spectrum Asset Management Inc. NB CA grew its holdings in shares of General Dynamics by 14.6% in the 3rd quarter. Spectrum Asset Management Inc. NB CA now owns 16,392 shares of the aerospace company’s stock worth $4,954,000 after acquiring an additional 2,085 shares during the period. Finally, International Assets Investment Management LLC grew its holdings in shares of General Dynamics by 40,389.3% in the 3rd quarter. International Assets Investment Management LLC now owns 1,379,472 shares of the aerospace company’s stock worth $416,876,000 after acquiring an additional 1,376,065 shares during the period. Institutional investors and hedge funds own 86.14% of the company’s stock.

General Dynamics Trading Down 0.5 %

Shares of GD opened at $304.40 on Thursday. General Dynamics Co. has a twelve month low of $232.29 and a twelve month high of $313.11. The firm has a market capitalization of $83.52 billion, a P/E ratio of 24.83, a price-to-earnings-growth ratio of 1.67 and a beta of 0.61. 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’s fifty day simple moving average is $300.17 and its 200 day simple moving average is $294.55.

General Dynamics (NYSE:GD) last issued its earnings results 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 net margin of 7.89% and a return on equity of 16.74%. The firm had revenue of $11.67 billion during the quarter, compared to analyst estimates of $11.65 billion. During the same quarter in the previous year, the business posted $3.04 EPS. General Dynamics’s revenue was up 10.4% compared to the same quarter last year. On average, equities research 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 announced 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 dividend on an annualized basis and a yield of 1.87%. The ex-dividend date of this dividend is Friday, October 11th. General Dynamics’s payout ratio is currently 46.33%.

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 transaction, the director now 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.52% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on GD shares. Wells Fargo & Company cut General Dynamics from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $334.00 to $317.00 in a report on Tuesday, October 1st. Susquehanna upped their price target on General Dynamics from $333.00 to $352.00 and gave the stock a “positive” rating in a report on Thursday, October 17th. Robert W. Baird reiterated an “outperform” rating and set a $345.00 target price on shares of General Dynamics in a report on Tuesday, July 2nd. Morgan Stanley upgraded General Dynamics from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $293.00 to $345.00 in a report on Friday, August 9th. Finally, Seaport Res Ptn cut General Dynamics from a “strong-buy” rating to a “hold” rating in a report on Friday, October 11th. Seven research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $320.18.

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.