1,116 Shares in General Dynamics Co. (NYSE:GD) Purchased by SteelPeak Wealth LLC

by · The Cerbat Gem

SteelPeak Wealth LLC bought a new position in General Dynamics Co. (NYSE:GD – Free Report) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 1,116 shares of the aerospace company’s stock, valued at approximately $337,000.

Several other large investors have also bought and sold shares of the company. First Trust Direct Indexing L.P. raised its holdings in General Dynamics by 7.2% in the third quarter. First Trust Direct Indexing L.P. now owns 8,646 shares of the aerospace company’s stock worth $2,613,000 after buying an additional 581 shares during the last quarter. Golden State Equity Partners raised its holdings in General Dynamics by 31.8% in the third quarter. Golden State Equity Partners now owns 5,618 shares of the aerospace company’s stock worth $1,698,000 after buying an additional 1,356 shares during the last quarter. Creekmur Asset Management LLC raised its holdings in General Dynamics by 90.6% in the third quarter. Creekmur Asset Management LLC now owns 7,383 shares of the aerospace company’s stock worth $2,231,000 after buying an additional 3,509 shares during the last quarter. GSB Wealth Management LLC raised its holdings in General Dynamics by 0.5% in the third quarter. GSB Wealth Management LLC now owns 7,621 shares of the aerospace company’s stock worth $2,303,000 after buying an additional 38 shares during the last quarter. Finally, Trajan Wealth LLC raised its holdings in General Dynamics by 7.0% in the third quarter. Trajan Wealth LLC now owns 27,135 shares of the aerospace company’s stock worth $8,200,000 after buying an additional 1,773 shares during the last quarter. 86.14% of the stock is owned by hedge funds and other institutional investors.

General Dynamics Stock Performance

GD opened at $291.55 on Friday. The firm has a market cap of $80.17 billion, a P/E ratio of 23.78, a PEG ratio of 1.72 and a beta of 0.61. General Dynamics Co. has a 1-year low of $237.50 and a 1-year high of $313.11. The company has a 50 day simple moving average of $300.80 and a two-hundred day simple moving average of $294.97. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.33 and a quick ratio of 0.80.

General Dynamics (NYSE:GD – Get Free Report) last posted its quarterly 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). The firm had revenue of $11.67 billion during the quarter, compared to the consensus estimate of $11.65 billion. General Dynamics had a return on equity of 16.74% and a net margin of 7.89%. The business’s revenue for the quarter was up 10.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.04 earnings per share. Equities analysts forecast that General Dynamics Co. will post 14.27 earnings per share for the current fiscal year.

General Dynamics Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, October 11th will be given a dividend of $1.42 per share. The ex-dividend date is Friday, October 11th. This represents a $5.68 dividend on an annualized basis and a dividend yield of 1.95%. General Dynamics’s dividend payout ratio is 46.33%.

Insider Buying and Selling

In related 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 transaction of $406,626.00. Following the completion of the transaction, the director now owns 3,592 shares in the company, valued at approximately $1,106,515.60. This 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 this hyperlink. 1.52% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research firms have recently weighed in on GD. Royal Bank of Canada boosted their price objective on shares of General Dynamics from $320.00 to $330.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Sanford C. Bernstein decreased their price objective on shares of General Dynamics from $343.00 to $331.00 and set a “market perform” rating for the company in a report on Thursday, October 24th. Barclays boosted their price objective on shares of General Dynamics from $325.00 to $330.00 and gave the company an “overweight” rating in a report on Tuesday. 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, Citigroup boosted their price objective on shares of General Dynamics from $331.00 to $354.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Seven analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $324.19.

Check Out Our Latest Stock Analysis on GD

General Dynamics Profile

(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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