General Dynamics Co. (NYSE:GD) Shares Purchased by Canal Capital Management LLC

by · The Markets Daily

Canal Capital Management LLC grew its stake in shares of General Dynamics Co. (NYSE:GD – Free Report) by 6.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 21,441 shares of the aerospace company’s stock after purchasing an additional 1,276 shares during the quarter. Canal Capital Management LLC’s holdings in General Dynamics were worth $6,480,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. MFA Wealth Advisors LLC raised its stake in General Dynamics by 241.7% during the 3rd quarter. MFA Wealth Advisors LLC now owns 82 shares of the aerospace company’s stock worth $25,000 after acquiring an additional 58 shares in the last quarter. Redmont Wealth Advisors LLC acquired a new stake in shares of General Dynamics during the first quarter worth about $25,000. American Capital Advisory LLC purchased a new stake in shares of General Dynamics in the 2nd quarter valued at about $29,000. Lowe Wealth Advisors LLC acquired a new stake in shares of General Dynamics in the 3rd quarter valued at about $30,000. Finally, New Covenant Trust Company N.A. purchased a new position in General Dynamics during the 1st quarter worth approximately $29,000. Hedge funds and other 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 dated 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 approximately $1,106,515.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.52% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on GD. Seaport Res Ptn cut General Dynamics from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 11th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of General Dynamics from $320.00 to $314.00 and set a “hold” rating for the company in a research report on Thursday, October 3rd. Susquehanna lifted their price objective on shares of General Dynamics from $333.00 to $352.00 and gave the company a “positive” rating in a research note on Thursday, October 17th. Robert W. Baird reaffirmed an “outperform” rating and issued a $345.00 target price on shares of General Dynamics in a report on Tuesday, July 2nd. Finally, Barclays raised their price target on General Dynamics from $310.00 to $325.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. Seven equities research 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. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $323.88.

View Our Latest Report on GD

General Dynamics Price Performance

General Dynamics stock opened at $303.00 on Friday. The company has a quick ratio of 0.80, a current ratio of 1.33 and a debt-to-equity ratio of 0.33. The firm’s 50-day simple moving average is $300.17 and its 200 day simple moving average is $294.55. General Dynamics Co. has a 52 week low of $236.58 and a 52 week high of $313.11. The firm has a market capitalization of $83.13 billion, a PE ratio of 24.57, a P/E/G ratio of 1.67 and a beta of 0.61.

General Dynamics (NYSE:GD – Get Free Report) last released its quarterly earnings results on Wednesday, October 23rd. The aerospace company reported $3.35 EPS for the quarter, missing the consensus estimate of $3.48 by ($0.13). General Dynamics had a net margin of 7.89% and a return on equity of 16.74%. The business had revenue of $11.67 billion during the quarter, compared to analyst estimates of $11.65 billion. During the same quarter in the prior year, the company earned $3.04 earnings per share. The firm’s revenue for the quarter was up 10.4% compared to the same quarter last year. On average, equities research analysts predict that General Dynamics Co. will post 14.38 EPS for the current fiscal year.

General Dynamics Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 11th will be given a $1.42 dividend. The ex-dividend date of this dividend is Friday, October 11th. This represents a $5.68 annualized dividend and a dividend yield of 1.87%. General Dynamics’s dividend payout ratio is currently 46.33%.

General Dynamics Company 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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