Drucker Wealth 3.0 LLC Buys New Position in General Dynamics Co. (NYSE:GD)

Drucker Wealth 3.0 LLC purchased a new position in shares of General Dynamics Co. (NYSE:GD) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,104 shares of the aerospace company’s stock, valued at approximately $900,000.

Several other hedge funds have also made changes to their positions in the business. Gilbert & Cook Inc. grew its stake in General Dynamics by 5.1% during the 4th quarter. Gilbert & Cook Inc. now owns 2,509 shares of the aerospace company’s stock worth $652,000 after purchasing an additional 122 shares in the last quarter. Steward Partners Investment Advisory LLC grew its position in shares of General Dynamics by 14.2% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 40,503 shares of the aerospace company’s stock worth $10,517,000 after buying an additional 5,032 shares in the last quarter. TD Asset Management Inc increased its stake in shares of General Dynamics by 7.2% during the fourth quarter. TD Asset Management Inc now owns 80,280 shares of the aerospace company’s stock worth $20,846,000 after buying an additional 5,405 shares during the period. Stifel Financial Corp raised its holdings in General Dynamics by 6.7% in the fourth quarter. Stifel Financial Corp now owns 277,986 shares of the aerospace company’s stock valued at $72,194,000 after acquiring an additional 17,415 shares in the last quarter. Finally, Focus Financial Network Inc. ADV purchased a new position in General Dynamics in the fourth quarter worth approximately $234,000. Institutional investors and hedge funds own 86.14% of the company’s stock.

General Dynamics Stock Down 1.0 %

Shares of NYSE:GD opened at $301.69 on Thursday. General Dynamics Co. has a 1-year low of $214.53 and a 1-year high of $309.97. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.33 and a quick ratio of 0.80. The stock has a market cap of $82.90 billion, a P/E ratio of 24.61, a P/E/G ratio of 1.68 and a beta of 0.61. The firm has a fifty day moving average price of $295.50 and a 200 day moving average price of $291.69.

General Dynamics (NYSE:GD) last announced its earnings results on Wednesday, July 24th. The aerospace company reported $3.26 earnings per share for the quarter, missing the consensus estimate of $3.30 by ($0.04). The business had revenue of $11.98 billion for the quarter, compared to analyst estimates of $11.46 billion. General Dynamics had a return on equity of 16.74% and a net margin of 7.89%. General Dynamics’s quarterly revenue was up 18.0% on a year-over-year basis. During the same quarter last year, the company posted $2.70 EPS. Sell-side analysts predict that General Dynamics Co. will post 14.52 EPS for the current year.

General Dynamics Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 11th will be paid a dividend of $1.42 per share. This represents a $5.68 annualized dividend and a dividend yield of 1.88%. The ex-dividend date of this dividend is Friday, October 11th. General Dynamics’s dividend payout ratio (DPR) is presently 46.33%.

Insider Buying and Selling

In other General Dynamics news, Director Peter A. Wall sold 1,320 shares of the business’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 of the company’s stock, valued at approximately $1,106,515.60. The sale was disclosed in a filing 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

GD has been the topic of a number of recent analyst reports. BTIG Research began coverage on shares of General Dynamics in a research report on Wednesday, June 26th. They issued a “buy” rating and a $345.00 price objective on the stock. Barclays increased their target price on General Dynamics from $310.00 to $325.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of General Dynamics in a report on Monday, July 29th. Morgan Stanley raised General Dynamics from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $293.00 to $345.00 in a research report on Friday, August 9th. Finally, Wells Fargo & Company upped their price target on General Dynamics from $330.00 to $334.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Six equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $315.06.

General Dynamics 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.