General Dynamics Co. (NYSE:GD) Shares Purchased by Raleigh Capital Management Inc.

Raleigh Capital Management Inc. boosted its holdings in shares of General Dynamics Co. (NYSE:GD) by 4.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,831 shares of the aerospace company’s stock after acquiring an additional 81 shares during the quarter. Raleigh Capital Management Inc.’s holdings in General Dynamics were worth $553,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Whittier Trust Co. of Nevada Inc. grew its position in General Dynamics by 22.7% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 703 shares of the aerospace company’s stock valued at $212,000 after acquiring an additional 130 shares in the last quarter. Whittier Trust Co. boosted its stake in shares of General Dynamics by 1.9% in the third quarter. Whittier Trust Co. now owns 10,988 shares of the aerospace company’s stock valued at $3,320,000 after purchasing an additional 209 shares during the period. Toth Financial Advisory Corp grew its holdings in shares of General Dynamics by 2.0% in the third quarter. Toth Financial Advisory Corp now owns 22,359 shares of the aerospace company’s stock valued at $6,757,000 after purchasing an additional 440 shares in the last quarter. Arlington Partners LLC increased its stake in General Dynamics by 27.8% during the 3rd quarter. Arlington Partners LLC now owns 14,173 shares of the aerospace company’s stock worth $4,283,000 after buying an additional 3,080 shares during the period. Finally, Allspring Global Investments Holdings LLC lifted its holdings in General Dynamics by 2.0% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 152,988 shares of the aerospace company’s stock worth $46,233,000 after buying an additional 2,934 shares in the last quarter. 86.14% of the stock is currently owned by hedge funds and other institutional investors.

General Dynamics Stock Performance

NYSE GD opened at $308.22 on Tuesday. The firm has a market cap of $84.56 billion, a P/E ratio of 25.14, a P/E/G ratio of 1.67 and a beta of 0.61. General Dynamics Co. has a 52-week low of $232.29 and a 52-week high of $310.85. The business’s 50-day moving average price is $299.68 and its 200 day moving average price is $294.41. The company has a quick ratio of 0.80, a current ratio of 1.33 and a debt-to-equity ratio of 0.33.

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). General Dynamics had a net margin of 7.89% and a return on equity of 16.74%. The company had revenue of $11.98 billion during the quarter, compared to analysts’ expectations of $11.46 billion. During the same quarter last year, the business posted $2.70 earnings per share. The company’s revenue for the quarter was up 18.0% compared to the same quarter last year. On average, equities research analysts expect that General Dynamics Co. will post 14.38 earnings per share for the current year.

General Dynamics Dividend Announcement

The company 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. The ex-dividend date of this dividend is Friday, October 11th. This represents a $5.68 dividend on an annualized basis and a dividend yield of 1.84%. General Dynamics’s dividend payout ratio (DPR) is 46.33%.

Insider Buying and Selling

In other General Dynamics news, Director Peter A. Wall sold 1,320 shares of General Dynamics stock in a transaction that occurred 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 sale, the director now owns 3,592 shares of the company’s stock, valued at approximately $1,106,515.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.52% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have recently issued reports on GD shares. Deutsche Bank Aktiengesellschaft reduced their price objective on General Dynamics from $320.00 to $314.00 and set a “hold” rating on the stock in a research note on Thursday, October 3rd. Barclays boosted their price objective on General Dynamics from $310.00 to $325.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. Susquehanna raised their target price on shares of General Dynamics from $333.00 to $352.00 and gave the company a “positive” rating in a report on Thursday, October 17th. Wells Fargo & Company cut shares of 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. Finally, TD Cowen upgraded shares of General Dynamics to a “strong-buy” rating in a research note on Tuesday, October 8th. Seven equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $320.18.

About General Dynamics

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.