Confluence Investment Management LLC Purchases 6,049 Shares of General Dynamics Co. (NYSE:GD)

Confluence Investment Management LLC grew its position in shares of General Dynamics Co. (NYSE:GD) by 5.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 109,532 shares of the aerospace company’s stock after acquiring an additional 6,049 shares during the quarter. Confluence Investment Management LLC’s holdings in General Dynamics were worth $20,015,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in GD. Wealthfront Advisers LLC boosted its position in shares of General Dynamics by 15.5% during the third quarter. Wealthfront Advisers LLC now owns 12,874 shares of the aerospace company’s stock valued at $2,352,000 after buying an additional 1,723 shares during the last quarter. SeaCrest Wealth Management LLC boosted its position in shares of General Dynamics by 2.3% during the third quarter. SeaCrest Wealth Management LLC now owns 13,095 shares of the aerospace company’s stock valued at $2,393,000 after buying an additional 298 shares during the last quarter. Toth Financial Advisory Corp boosted its position in shares of General Dynamics by 12,195.6% during the third quarter. Toth Financial Advisory Corp now owns 8,361 shares of the aerospace company’s stock valued at $1,528,000 after buying an additional 8,293 shares during the last quarter. Triangle Securities Wealth Management purchased a new position in shares of General Dynamics during the third quarter valued at approximately $1,110,000. Finally, NuWave Investment Management LLC boosted its position in shares of General Dynamics by 15,175.0% during the third quarter. NuWave Investment Management LLC now owns 3,666 shares of the aerospace company’s stock valued at $669,000 after buying an additional 3,642 shares during the last quarter. Hedge funds and other institutional investors own 86.26% of the company’s stock.

Shares of NYSE GD opened at $178.29 on Thursday. General Dynamics Co. has a one year low of $143.87 and a one year high of $196.04. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.09 and a quick ratio of 0.73. The business’s fifty day moving average price is $184.93 and its 200-day moving average price is $178.76. The stock has a market capitalization of $51.74 billion, a PE ratio of 15.61, a P/E/G ratio of 1.73 and a beta of 1.20.

General Dynamics (NYSE:GD) last issued its quarterly earnings results on Wednesday, July 24th. The aerospace company reported $2.77 EPS for the quarter, beating analysts’ consensus estimates of $2.68 by $0.09. General Dynamics had a return on equity of 26.81% and a net margin of 8.65%. The firm had revenue of $9.56 billion for the quarter, compared to analysts’ expectations of $9.36 billion. During the same quarter in the prior year, the firm earned $2.82 EPS. The business’s revenue for the quarter was up 4.0% compared to the same quarter last year. As a group, equities analysts expect that General Dynamics Co. will post 11.88 EPS for the current fiscal year.

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 given a dividend of $1.02 per share. The ex-dividend date of this dividend is Thursday, October 10th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 2.29%. General Dynamics’s dividend payout ratio is presently 35.73%.

In other news, EVP Christopher Marzilli sold 32,930 shares of the company’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $187.16, for a total transaction of $6,163,178.80. Following the transaction, the executive vice president now owns 100,557 shares of the company’s stock, valued at approximately $18,820,248.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Gary L. Whited sold 14,029 shares of the company’s stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $188.38, for a total value of $2,642,783.02. Following the transaction, the vice president now directly owns 37,542 shares in the company, valued at approximately $7,072,161.96. The disclosure for this sale can be found here. Insiders have sold a total of 48,459 shares of company stock worth $9,079,802 in the last ninety days. Insiders own 7.10% of the company’s stock.

Several research analysts recently issued reports on the company. Barclays set a $215.00 target price on General Dynamics and gave the company a “buy” rating in a research report on Tuesday, October 8th. Zacks Investment Research raised General Dynamics from a “hold” rating to a “buy” rating and set a $203.00 price objective on the stock in a research report on Monday, September 2nd. Morgan Stanley cut their price objective on General Dynamics from $173.00 to $172.00 and set an “underweight” rating on the stock in a research report on Thursday, October 10th. Cowen set a $202.00 price objective on General Dynamics and gave the stock a “buy” rating in a research report on Friday, August 30th. Finally, Robert W. Baird boosted their price objective on General Dynamics from $188.00 to $218.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 10th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and seven have given a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $193.58.

General Dynamics Company Profile

General Dynamics Corporation operates as an aerospace and defense company worldwide. It operates in five segments: Aerospace, Combat Systems, Information Technology, Mission Systems, and Marine Systems. The Aerospace segment designs, manufactures, and supports business-jet aircraft; and offers business-aviation services, including maintenance, fixed-base operation, government fleet, aircraft management, charter, and staffing services, as well as integrated aviation solutions.

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Institutional Ownership by Quarter for General Dynamics (NYSE:GD)

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