MONECO Advisors LLC Has $483,000 Stock Position in General Dynamics Co. (NYSE:GD)

by · The Markets Daily

MONECO Advisors LLC cut its stake in shares of General Dynamics Co. (NYSE:GD – Free Report) by 4.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,599 shares of the aerospace company’s stock after selling 75 shares during the period. MONECO Advisors LLC’s holdings in General Dynamics were worth $483,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in GD. Fortitude Family Office LLC grew its position in shares of General Dynamics by 26.0% during the 3rd quarter. Fortitude Family Office LLC now owns 310 shares of the aerospace company’s stock worth $94,000 after buying an additional 64 shares during the period. abrdn plc grew its holdings in General Dynamics by 67.1% during the third quarter. abrdn plc now owns 32,456 shares of the aerospace company’s stock valued at $9,737,000 after purchasing an additional 13,032 shares during the period. Pallas Capital Advisors LLC acquired a new stake in General Dynamics in the third quarter worth $355,000. Strategic Wealth Investment Group LLC boosted its position in shares of General Dynamics by 336.5% during the third quarter. Strategic Wealth Investment Group LLC now owns 22,058 shares of the aerospace company’s stock worth $6,735,000 after purchasing an additional 17,005 shares in the last quarter. Finally, Patriot Financial Group Insurance Agency LLC grew its holdings in shares of General Dynamics by 13.8% in the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 3,430 shares of the aerospace company’s stock valued at $1,037,000 after buying an additional 416 shares during the period. Institutional investors own 86.14% of the company’s stock.

Insider Activity at General Dynamics

In other General Dynamics news, Director Peter A. Wall sold 1,320 shares of the company’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $308.05, for a total value of $406,626.00. Following the transaction, the director now directly owns 3,592 shares in the company, valued at $1,106,515.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 1.52% of the stock is owned by company insiders.

General Dynamics Stock Performance

NYSE GD opened at $301.80 on Wednesday. The firm’s fifty day moving average price is $300.69 and its two-hundred day moving average price is $294.95. General Dynamics Co. has a 1 year low of $237.35 and a 1 year high of $313.11. The firm has a market capitalization of $82.99 billion, a P/E ratio of 24.62, a price-to-earnings-growth ratio of 1.72 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.

General Dynamics (NYSE:GD – Get Free Report) last issued its 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 firm had revenue of $11.67 billion during the quarter, compared to analyst estimates of $11.65 billion. General Dynamics had a net margin of 7.89% and a return on equity of 16.74%. The company’s revenue for the quarter was up 10.4% on a year-over-year basis. During the same quarter last year, the business posted $3.04 earnings per share. As a group, research analysts anticipate that General Dynamics Co. will post 14.27 EPS for the current year.

General Dynamics Announces Dividend

The firm 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 dividend of $1.42 per share. This represents a $5.68 dividend on an annualized basis and a dividend yield of 1.88%. The ex-dividend date of this dividend is Friday, October 11th. General Dynamics’s payout ratio is presently 46.33%.

Analyst Ratings Changes

Several brokerages recently commented on GD. Barclays raised their price objective on General Dynamics from $325.00 to $330.00 and gave the stock an “overweight” rating in a research note on Tuesday. Sanford C. Bernstein cut their price objective on General Dynamics from $343.00 to $331.00 and set a “market perform” rating on the stock in a report on Thursday, October 24th. 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. Seaport Res Ptn cut shares of General Dynamics from a “strong-buy” rating to a “hold” rating in a report on Friday, October 11th. Finally, Royal Bank of Canada increased 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. 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 stock. According to data from MarketBeat.com, General Dynamics presently has an average rating of “Moderate Buy” and a consensus price target of $324.19.

Read Our Latest Report on General Dynamics

About General Dynamics

(Free Report)

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.

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