Intech Investment Management LLC Lowers Stock Position in General Dynamics Co. (NYSE:GD)

Intech Investment Management LLC lessened its holdings in General Dynamics Co. (NYSE:GD) by 13.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,562 shares of the aerospace company’s stock after selling 1,610 shares during the quarter. Intech Investment Management LLC’s holdings in General Dynamics were worth $3,064,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in GD. Gladstone Capital Management LLP purchased a new stake in shares of General Dynamics during the 4th quarter worth approximately $3,869,000. SWP Financial LLC purchased a new stake in shares of General Dynamics during the 4th quarter worth approximately $227,000. Sanibel Captiva Trust Company Inc. purchased a new stake in shares of General Dynamics during the 4th quarter worth approximately $28,107,000. Evercore Wealth Management LLC boosted its stake in shares of General Dynamics by 1.5% during the 4th quarter. Evercore Wealth Management LLC now owns 5,355 shares of the aerospace company’s stock worth $1,391,000 after acquiring an additional 78 shares in the last quarter. Finally, TD Asset Management Inc boosted its stake in shares of General Dynamics by 7.2% during the 4th quarter. TD Asset Management Inc now owns 80,280 shares of the aerospace company’s stock worth $20,846,000 after acquiring an additional 5,405 shares in the last quarter. Hedge funds and other institutional investors own 86.14% of the company’s stock.

General Dynamics Trading Up 0.7 %

Shares of GD opened at $306.87 on Monday. General Dynamics Co. has a fifty-two week low of $214.53 and a fifty-two week high of $309.97. The stock has a fifty day moving average of $294.79 and a two-hundred day moving average of $291.21. The company has a market capitalization of $84.19 billion, a PE ratio of 25.03, a price-to-earnings-growth ratio of 1.64 and a beta of 0.61. 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 announced its quarterly earnings data on Wednesday, July 24th. The aerospace company reported $3.26 earnings per share (EPS) for the quarter, missing the consensus estimate 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 for the quarter, compared to analysts’ expectations of $11.46 billion. During the same period in the prior year, the firm earned $2.70 earnings per share. The firm’s quarterly revenue was up 18.0% on a year-over-year basis. As a group, analysts forecast that General Dynamics Co. will post 14.52 EPS for the current year.

General Dynamics Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 11th will be paid a dividend of $1.42 per share. The ex-dividend date 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%.

Insider Activity

In other news, Director Peter A. Wall sold 1,320 shares of the business’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 completion of the sale, the director now directly owns 3,592 shares of the company’s stock, valued at approximately $1,106,515.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.52% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on GD shares. BTIG Research started coverage on General Dynamics in a research note on Wednesday, June 26th. They set a “buy” rating and a $345.00 price target on the stock. Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of General Dynamics in a research report on Monday, July 29th. Barclays lifted their price objective on General Dynamics from $310.00 to $325.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. Robert W. Baird restated an “outperform” rating and set a $345.00 price objective on shares of General Dynamics in a research report on Tuesday, July 2nd. Finally, Royal Bank of Canada restated an “outperform” rating and set a $320.00 price objective on shares of General Dynamics in a research report on Thursday, July 25th. Six equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $315.06.

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.