1,179 Shares in General Dynamics Co. (NYSE:GD) Acquired by Pallas Capital Advisors LLC

Pallas Capital Advisors LLC purchased a new stake in shares of General Dynamics Co. (NYSE:GD) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 1,179 shares of the aerospace company’s stock, valued at approximately $355,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. CWC Advisors LLC. bought a new position in shares of General Dynamics during the third quarter worth approximately $771,000. Kingsview Wealth Management LLC lifted its holdings in shares of General Dynamics by 87.6% during the first quarter. Kingsview Wealth Management LLC now owns 14,690 shares of the aerospace company’s stock worth $4,150,000 after buying an additional 6,858 shares in the last quarter. Clearbridge Investments LLC bought a new stake in shares of General Dynamics in the first quarter valued at about $493,000. Peak Financial Advisors LLC acquired a new position in shares of General Dynamics in the third quarter valued at about $3,022,000. Finally, Cetera Investment Advisers increased its position in General Dynamics by 291.4% during the first quarter. Cetera Investment Advisers now owns 96,539 shares of the aerospace company’s stock worth $27,271,000 after acquiring an additional 71,871 shares during the period. 86.14% of the stock is owned by institutional investors.

General Dynamics Stock Down 3.3 %

Shares of GD opened at $291.55 on Friday. The stock has a market capitalization of $80.17 billion, a price-to-earnings ratio of 23.78, a PEG ratio of 1.72 and a beta of 0.61. General Dynamics Co. has a 52 week low of $237.50 and a 52 week high of $313.11. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.80 and a current ratio of 1.33. The stock has a fifty day moving average of $300.80 and a 200-day moving average of $294.97.

General Dynamics (NYSE:GD) last posted its 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 firm had revenue of $11.67 billion during the quarter, compared to the consensus estimate of $11.65 billion. During the same quarter in the prior year, the business posted $3.04 earnings per share. General Dynamics’s revenue for the quarter was up 10.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that General Dynamics Co. will post 14.27 earnings per share for the current fiscal year.

General Dynamics Dividend Announcement

The firm 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 1.95%. The ex-dividend date is Friday, October 11th. General Dynamics’s payout ratio is currently 46.33%.

Insider Activity

In related news, Director Peter A. Wall sold 1,320 shares of the stock in a transaction 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 completion of the sale, the director now directly owns 3,592 shares in the company, 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 hyperlink. Insiders own 1.52% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on GD. 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. Sanford C. Bernstein reduced their price target on General Dynamics from $343.00 to $331.00 and set a “market perform” rating on the stock in a research report on Thursday, October 24th. Susquehanna lifted their price objective on General Dynamics from $333.00 to $352.00 and gave the company a “positive” rating in a report on Thursday, October 17th. TD Cowen raised General Dynamics to a “strong-buy” rating in a report on Tuesday, October 8th. Finally, Morgan Stanley raised General Dynamics from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $293.00 to $345.00 in a research note on Friday, August 9th. Seven analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, General Dynamics has a consensus rating of “Moderate Buy” and an average price target of $324.19.

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.