ProShare Advisors LLC Has $184.25 Million Holdings in General Dynamics Co. (NYSE:GD)

ProShare Advisors LLC cut its stake in shares of General Dynamics Co. (NYSE:GD) by 6.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 635,050 shares of the aerospace company’s stock after selling 44,441 shares during the period. ProShare Advisors LLC owned 0.23% of General Dynamics worth $184,253,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Richardson Financial Services Inc. acquired a new stake in General Dynamics during the fourth quarter worth approximately $25,000. Redmont Wealth Advisors LLC acquired a new stake in General Dynamics during the first quarter worth approximately $25,000. Financial Synergies Wealth Advisors Inc. acquired a new stake in General Dynamics during the first quarter worth approximately $29,000. New Covenant Trust Company N.A. acquired a new stake in General Dynamics during the first quarter worth approximately $29,000. Finally, American Capital Advisory LLC bought a new position in shares of General Dynamics during the second quarter worth approximately $29,000. 86.14% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

GD has been the topic of several recent research reports. Wells Fargo & Company raised their target price on shares of General Dynamics from $330.00 to $334.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. BTIG Research initiated coverage on shares of General Dynamics in a report on Wednesday, June 26th. They set a “buy” rating and a $345.00 target price on the stock. Morgan Stanley raised shares of General Dynamics from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $293.00 to $345.00 in a report on Friday, August 9th. Barclays raised their target price on shares of General Dynamics from $310.00 to $325.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of General Dynamics in a report on Monday, July 29th. Six analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $315.06.

General Dynamics Stock Performance

NYSE GD opened at $306.87 on Friday. The firm’s fifty day moving average price is $294.79 and its two-hundred day moving average price is $291.09. The stock has a market cap of $84.19 billion, a PE ratio of 25.03, a PEG ratio of 1.64 and a beta of 0.61. General Dynamics Co. has a fifty-two week low of $214.53 and a fifty-two week high of $309.97. 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 posted its earnings results on Wednesday, July 24th. The aerospace company reported $3.26 earnings per share for the quarter, missing analysts’ consensus estimates of $3.30 by ($0.04). The company had revenue of $11.98 billion for the quarter, compared to the consensus estimate of $11.46 billion. General Dynamics had a return on equity of 16.74% and a net margin of 7.89%. The business’s quarterly revenue was up 18.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.70 EPS. On average, equities analysts expect that General Dynamics Co. will post 14.52 EPS 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 issued a dividend of $1.42 per share. The ex-dividend date is Friday, October 11th. This represents a $5.68 dividend on an annualized basis and a dividend yield of 1.85%. General Dynamics’s dividend payout ratio (DPR) is presently 46.33%.

Insider Transactions at General Dynamics

In other news, Director Peter A. Wall sold 1,320 shares of General Dynamics 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 $1,106,515.60. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 1.52% of the stock is owned by company insiders.

About General Dynamics

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.