Accordant Advisory Group Inc Increases Stock Holdings in General Dynamics Co. (NYSE:GD)

Accordant Advisory Group Inc boosted its stake in shares of General Dynamics Co. (NYSE:GD) by 15.4% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 749 shares of the aerospace company’s stock after acquiring an additional 100 shares during the period. Accordant Advisory Group Inc’s holdings in General Dynamics were worth $226,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Symphony Financial Ltd. Co. grew its stake in General Dynamics by 7.2% during the 3rd quarter. Symphony Financial Ltd. Co. now owns 5,906 shares of the aerospace company’s stock valued at $1,773,000 after acquiring an additional 396 shares in the last quarter. Waldron Private Wealth LLC boosted its holdings in shares of General Dynamics by 10.2% during the 3rd quarter. Waldron Private Wealth LLC now owns 768 shares of the aerospace company’s stock worth $232,000 after purchasing an additional 71 shares during the last quarter. Eastern Bank acquired a new stake in shares of General Dynamics in the third quarter valued at approximately $447,000. Sequoia Financial Advisors LLC lifted its position in General Dynamics by 14.9% during the third quarter. Sequoia Financial Advisors LLC now owns 31,608 shares of the aerospace company’s stock worth $9,552,000 after buying an additional 4,105 shares in the last quarter. Finally, Mattern Wealth Management LLC boosted its stake in General Dynamics by 1.3% during the third quarter. Mattern Wealth Management LLC now owns 10,107 shares of the aerospace company’s stock worth $3,054,000 after buying an additional 125 shares during the last quarter. 86.14% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have issued reports on GD. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $320.00 target price on shares of General Dynamics in a research note on Thursday, July 25th. Citigroup boosted their target price 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. Wells Fargo & Company downgraded shares of General Dynamics from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $334.00 to $317.00 in a report on Tuesday, October 1st. Robert W. Baird reiterated an “outperform” rating and issued a $345.00 price objective on shares of General Dynamics in a report on Tuesday, July 2nd. Finally, Seaport Res Ptn cut General Dynamics from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 11th. Seven investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $320.18.

Insider Activity

In related news, Director Peter A. Wall sold 1,320 shares of the stock in a transaction dated 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 directly owns 3,592 shares of the company’s stock, valued at $1,106,515.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders own 1.52% of the company’s stock.

General Dynamics Trading Down 0.7 %

Shares of NYSE:GD opened at $305.92 on Wednesday. The company has a market cap of $83.93 billion, a PE ratio of 24.95, a P/E/G ratio of 1.67 and a beta of 0.61. The company’s 50 day moving average is $299.96 and its two-hundred day moving average is $294.48. General Dynamics Co. has a 52 week low of $232.29 and a 52 week high of $310.85. 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) last issued its quarterly earnings data on Wednesday, July 24th. The aerospace company reported $3.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.30 by ($0.04). General Dynamics had a return on equity of 16.74% and a net margin of 7.89%. The firm had revenue of $11.98 billion for the quarter, compared to analysts’ expectations of $11.46 billion. During the same period in the previous year, the business posted $2.70 EPS. The business’s revenue for the quarter was up 18.0% compared to the same quarter last year. Equities analysts predict that General Dynamics Co. will post 14.38 earnings per share for the current fiscal year.

General Dynamics Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 11th will be paid a $1.42 dividend. This represents a $5.68 annualized dividend and a dividend yield of 1.86%. The ex-dividend date is Friday, October 11th. General Dynamics’s dividend payout ratio (DPR) is presently 46.33%.

General Dynamics Company 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.