General Dynamics Co. (NYSE:GD) Shares Sold by Epoch Investment Partners Inc.

Epoch Investment Partners Inc. cut its holdings in shares of General Dynamics Co. (NYSE:GD) by 3.2% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 108,095 shares of the aerospace company’s stock after selling 3,627 shares during the period. Epoch Investment Partners Inc.’s holdings in General Dynamics were worth $31,363,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Richardson Financial Services Inc. purchased a new stake in shares of General Dynamics in the fourth quarter worth about $25,000. Redmont Wealth Advisors LLC acquired a new position in General Dynamics in the first quarter valued at approximately $25,000. Financial Synergies Wealth Advisors Inc. purchased a new stake in General Dynamics in the 1st quarter worth approximately $29,000. New Covenant Trust Company N.A. acquired a new stake in shares of General Dynamics during the 1st quarter worth approximately $29,000. Finally, American Capital Advisory LLC acquired a new stake in shares of General Dynamics during the 2nd quarter worth approximately $29,000. 86.14% of the stock is owned by hedge funds and other institutional investors.

General Dynamics Stock Performance

GD opened at $306.87 on Monday. The firm has a market capitalization of $84.19 billion, a PE ratio of 25.03, a PEG ratio of 1.64 and a beta of 0.61. The company has a current ratio of 1.33, a quick ratio of 0.80 and a debt-to-equity ratio of 0.33. General Dynamics Co. has a twelve month low of $214.53 and a twelve month high of $309.97. The firm’s 50-day moving average price is $294.79 and its 200 day moving average price is $291.21.

General Dynamics (NYSE:GD) last posted its quarterly earnings results 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 company had revenue of $11.98 billion during the quarter, compared to analysts’ expectations of $11.46 billion. During the same quarter last year, the company earned $2.70 earnings per share. General Dynamics’s revenue for the quarter was up 18.0% on a year-over-year basis. As a group, sell-side analysts expect that General Dynamics Co. will post 14.52 EPS for the current fiscal year.

General Dynamics Announces Dividend

The business 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 of this dividend is Friday, October 11th. This represents a $5.68 annualized dividend and a dividend yield of 1.85%. General Dynamics’s dividend payout ratio is presently 46.33%.

Analyst Ratings Changes

GD has been the subject of several analyst reports. BTIG Research started coverage on shares of General Dynamics in a research note on Wednesday, June 26th. They issued a “buy” rating and a $345.00 target price for the company. Wells Fargo & Company increased their target price on shares of General Dynamics from $330.00 to $334.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. Barclays raised their target price on General Dynamics from $310.00 to $325.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. 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. Finally, 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. Six research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $315.06.

Insider Activity

In other General Dynamics news, Director Peter A. Wall sold 1,320 shares of General Dynamics stock in a transaction dated 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 directly owns 3,592 shares of the company’s stock, valued at $1,106,515.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.52% of the company’s stock.

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.