Boston Mountain Money Management Inc. Buys 204 Shares of General Dynamics Co. (NYSE:GD)

by · The Cerbat Gem

Boston Mountain Money Management Inc. increased its stake in shares of General Dynamics Co. (NYSE:GD – Free Report) by 17.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,384 shares of the aerospace company’s stock after acquiring an additional 204 shares during the quarter. Boston Mountain Money Management Inc.’s holdings in General Dynamics were worth $418,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in GD. Richardson Financial Services Inc. bought a new stake in shares of General Dynamics during the 4th quarter worth approximately $25,000. Redmont Wealth Advisors LLC purchased a new stake in General Dynamics during the 1st quarter valued at about $25,000. Financial Synergies Wealth Advisors Inc. purchased a new stake in General Dynamics during the 1st quarter valued at about $29,000. New Covenant Trust Company N.A. purchased a new stake in General Dynamics during the 1st quarter valued at about $29,000. Finally, American Capital Advisory LLC acquired a new position in shares of General Dynamics in the 2nd quarter valued at about $29,000. Hedge funds and other institutional investors own 86.14% of the company’s stock.

Insider Buying and Selling

In other news, Director Peter A. Wall sold 1,320 shares of the firm’s stock in a transaction on Monday, September 16th. The stock was 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 in the company, valued at $1,106,515.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 1.52% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Royal Bank of Canada reissued an “outperform” rating and issued a $320.00 price objective on shares of General Dynamics in a report on Thursday, July 25th. Deutsche Bank Aktiengesellschaft decreased their price objective on General Dynamics from $320.00 to $314.00 and set a “hold” rating for the company in a report on Thursday, October 3rd. Wells Fargo & Company cut General Dynamics from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $334.00 to $317.00 in a report on Tuesday, October 1st. Robert W. Baird reissued an “outperform” rating and issued a $345.00 price objective on shares of General Dynamics in a report on Tuesday, July 2nd. Finally, Morgan Stanley raised General Dynamics from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $293.00 to $345.00 in a report on Friday, August 9th. Seven research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $319.06.

View Our Latest Analysis on GD

General Dynamics Price Performance

Shares of GD stock traded up $0.28 during trading hours on Monday, reaching $299.72. The company had a trading volume of 70,478 shares, compared to its average volume of 1,090,259. 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 $297.70 and a 200-day moving average of $293.71. The company has a market capitalization of $82.23 billion, a price-to-earnings ratio of 24.42, a PEG ratio of 1.67 and a beta of 0.61. General Dynamics Co. has a 12-month low of $232.29 and a 12-month high of $309.97.

General Dynamics (NYSE:GD – Get Free Report) last issued its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $11.46 billion. General Dynamics had a return on equity of 16.74% and a net margin of 7.89%. The company’s revenue was up 18.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.70 earnings per share. On average, equities analysts anticipate that General Dynamics Co. will post 14.38 earnings per share for the current year.

General Dynamics Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, October 11th will be given a $1.42 dividend. The ex-dividend date is Friday, October 11th. This represents a $5.68 annualized dividend and a yield of 1.90%. General Dynamics’s payout ratio is 46.33%.

About General Dynamics

(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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