Kayne Anderson Rudnick Investment Management LLC Cuts Holdings in General Dynamics Co. (NYSE:GD)

Kayne Anderson Rudnick Investment Management LLC reduced its position in General Dynamics Co. (NYSE:GD) by 2.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 60,231 shares of the aerospace company’s stock after selling 1,316 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC’s holdings in General Dynamics were worth $17,476,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in GD. Gilbert & Cook Inc. raised its position in shares of General Dynamics by 5.1% in the 4th quarter. Gilbert & Cook Inc. now owns 2,509 shares of the aerospace company’s stock worth $652,000 after buying an additional 122 shares during the period. Trexquant Investment LP raised its position in shares of General Dynamics by 537.3% in the 4th quarter. Trexquant Investment LP now owns 9,961 shares of the aerospace company’s stock worth $2,587,000 after buying an additional 8,398 shares during the period. Quest Partners LLC purchased a new position in General Dynamics in the fourth quarter valued at about $310,000. CreativeOne Wealth LLC purchased a new position in General Dynamics in the fourth quarter valued at about $345,000. Finally, Cambridge Investment Research Advisors Inc. raised its position in General Dynamics by 14.4% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 71,396 shares of the aerospace company’s stock valued at $18,539,000 after purchasing an additional 8,981 shares during the period. 86.14% of the stock is owned by hedge funds and other institutional investors.

General Dynamics Stock Up 0.7 %

NYSE:GD opened at $306.87 on Friday. The company has a market capitalization of $84.19 billion, a price-to-earnings ratio of 25.03, a price-to-earnings-growth ratio of 1.64 and a beta of 0.61. General Dynamics Co. has a one year low of $214.53 and a one year high of $309.97. The stock has a 50-day simple moving average of $294.79 and a 200 day simple moving average of $291.09. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.80 and a current ratio of 1.33.

General Dynamics (NYSE:GD) last issued its earnings results on Wednesday, July 24th. The aerospace company reported $3.26 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 company had revenue of $11.98 billion during the quarter, compared to analyst estimates of $11.46 billion. During the same quarter in the previous year, the firm earned $2.70 earnings per share. The business’s revenue was up 18.0% on a year-over-year basis. Sell-side analysts predict that General Dynamics Co. will post 14.52 EPS for the current fiscal year.

General Dynamics Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, October 11th will be paid a $1.42 dividend. The ex-dividend date of this dividend is Friday, October 11th. This represents a $5.68 dividend on an annualized basis and a yield of 1.85%. General Dynamics’s payout ratio is currently 46.33%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on GD shares. Robert W. Baird reissued an “outperform” rating and issued a $345.00 price objective on shares of General Dynamics in a research report on Tuesday, July 2nd. Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of General Dynamics in a research report on Monday, July 29th. Royal Bank of Canada reissued an “outperform” rating and issued a $320.00 price objective on shares of General Dynamics in a research report on Thursday, July 25th. Wells Fargo & Company raised their price objective on General Dynamics from $330.00 to $334.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. Finally, Morgan Stanley raised General Dynamics from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $293.00 to $345.00 in a research report on Friday, August 9th. Six research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $315.06.

Insider Buying and Selling at General Dynamics

In other General Dynamics news, Director Peter A. Wall sold 1,320 shares of General Dynamics stock in a transaction that occurred 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 transaction, the director now directly owns 3,592 shares in the company, valued at $1,106,515.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.52% of the stock is currently owned by insiders.

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.