General Dynamics Co. (NYSE:GD) Shares Sold by Pacer Advisors Inc.

Pacer Advisors Inc. decreased its holdings in General Dynamics Co. (NYSE:GD) by 6.8% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,062 shares of the aerospace company’s stock after selling 1,759 shares during the quarter. Pacer Advisors Inc.’s holdings in General Dynamics were worth $6,981,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Redmont Wealth Advisors LLC acquired a new stake in shares of General Dynamics in the 1st quarter worth $25,000. Richardson Financial Services Inc. acquired a new stake in shares of General Dynamics in the 4th quarter worth $25,000. American Capital Advisory LLC acquired a new stake in shares of General Dynamics in the 2nd quarter worth $29,000. Financial Synergies Wealth Advisors Inc. acquired a new stake in shares of General Dynamics in the 1st quarter worth $29,000. Finally, New Covenant Trust Company N.A. acquired a new stake in shares of General Dynamics in the 1st quarter worth $29,000. Institutional investors and hedge funds own 86.14% of the company’s stock.

Insiders Place Their Bets

In other General Dynamics news, Director Peter A. Wall sold 1,320 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The stock was 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 in the company, valued at approximately $1,106,515.60. The transaction was disclosed in a document filed with the SEC, which is available through this link. 1.52% of the stock is owned by company insiders.

General Dynamics Price Performance

Shares of General Dynamics stock opened at $308.09 on Tuesday. 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 twelve month low of $214.53 and a twelve month high of $309.97. The business has a 50-day moving average price of $295.24 and a 200 day moving average price of $291.46. The firm has a market cap of $84.53 billion, a PE ratio of 25.13, a P/E/G ratio of 1.64 and a beta of 0.61.

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

General Dynamics Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, October 11th will be paid 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 yield of 1.84%. General Dynamics’s dividend payout ratio (DPR) is currently 46.33%.

Analyst Ratings Changes

A number of brokerages have commented on GD. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of General Dynamics in a research report on Monday, July 29th. Robert W. Baird reaffirmed an “outperform” rating and set a $345.00 price target on shares of General Dynamics in a research report on Tuesday, July 2nd. BTIG Research began coverage on General Dynamics in a research report on Wednesday, June 26th. They set a “buy” rating and a $345.00 price target for the company. Barclays lifted their price target on General Dynamics from $310.00 to $325.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. Finally, Morgan Stanley raised General Dynamics from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $293.00 to $345.00 in a research report on Friday, August 9th. Six investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, General Dynamics currently has a consensus rating of “Moderate Buy” and a consensus price target 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.