DRH Investments Inc. Sells 8,631 Shares of General Dynamics Co. (NYSE:GD)

DRH Investments Inc. lessened its holdings in shares of General Dynamics Co. (NYSE:GD) by 14.8% in the second quarter, according to its most recent filing with the SEC. The firm owned 49,742 shares of the aerospace company’s stock after selling 8,631 shares during the quarter. General Dynamics comprises approximately 15.6% of DRH Investments Inc.’s holdings, making the stock its 2nd largest position. DRH Investments Inc.’s holdings in General Dynamics were worth $14,432,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of GD. AE Wealth Management LLC lifted its stake in shares of General Dynamics by 1.8% in the 2nd quarter. AE Wealth Management LLC now owns 5,225 shares of the aerospace company’s stock worth $1,516,000 after acquiring an additional 94 shares during the period. King Luther Capital Management Corp increased its stake in shares of General Dynamics by 0.5% during the second quarter. King Luther Capital Management Corp now owns 22,798 shares of the aerospace company’s stock valued at $6,615,000 after acquiring an additional 110 shares during the period. Public Employees Retirement Association of Colorado raised its holdings in General Dynamics by 20.1% during the second quarter. Public Employees Retirement Association of Colorado now owns 408,649 shares of the aerospace company’s stock worth $118,565,000 after purchasing an additional 68,290 shares in the last quarter. Benjamin F. Edwards & Company Inc. lifted its position in General Dynamics by 2.2% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 41,594 shares of the aerospace company’s stock worth $12,068,000 after purchasing an additional 892 shares during the period. Finally, Ieq Capital LLC boosted its stake in General Dynamics by 17.0% during the 2nd quarter. Ieq Capital LLC now owns 26,287 shares of the aerospace company’s stock valued at $7,627,000 after purchasing an additional 3,820 shares in the last quarter. Institutional investors own 86.14% of the company’s stock.

Insiders Place Their Bets

In other news, Director Peter A. Wall sold 1,320 shares of the firm’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $308.05, for a total transaction of $406,626.00. Following the transaction, the director now owns 3,592 shares in the company, valued at approximately $1,106,515.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.52% of the company’s stock.

General Dynamics Trading Up 0.7 %

Shares of NYSE:GD opened at $306.87 on Friday. The firm has a fifty day moving average of $294.79 and a two-hundred day moving average of $290.97. 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 Co. has a 12-month low of $214.53 and a 12-month high of $309.97. The firm has a market capitalization of $84.19 billion, a P/E ratio of 25.03, a price-to-earnings-growth ratio of 1.64 and a beta of 0.61.

General Dynamics (NYSE:GD) last released its quarterly earnings data on Wednesday, July 24th. The aerospace company reported $3.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.30 by ($0.04). General Dynamics had a net margin of 7.89% and a return on equity of 16.74%. The firm had revenue of $11.98 billion for the quarter, compared to analyst estimates of $11.46 billion. During the same period in the previous year, the business posted $2.70 EPS. General Dynamics’s revenue for the quarter was up 18.0% on a year-over-year basis. On average, equities analysts expect that General Dynamics Co. will post 14.52 EPS for the current fiscal year.

General Dynamics Announces Dividend

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 dividend of $1.42 per share. This represents a $5.68 annualized dividend and a yield of 1.85%. The ex-dividend date is Friday, October 11th. General Dynamics’s payout ratio is presently 46.33%.

Wall Street Analyst Weigh In

GD has been the topic of several recent research reports. Morgan Stanley raised shares of General Dynamics from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $293.00 to $345.00 in a research note on Friday, August 9th. Robert W. Baird reaffirmed an “outperform” rating and issued a $345.00 price target on shares of General Dynamics in a report on Tuesday, July 2nd. Royal Bank of Canada reissued an “outperform” rating and set a $320.00 price objective on shares of General Dynamics in a research note on Thursday, July 25th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of General Dynamics in a research report on Monday, July 29th. Finally, BTIG Research initiated coverage on General Dynamics in a research report on Wednesday, June 26th. They issued a “buy” rating and a $345.00 price target for the company. Six analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $315.06.

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.