Bard Financial Services Inc. Has $845,000 Holdings in General Dynamics Co. (NYSE:GD)

Bard Financial Services Inc. cut its stake in General Dynamics Co. (NYSE:GD) by 76.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,795 shares of the aerospace company’s stock after selling 9,250 shares during the period. Bard Financial Services Inc.’s holdings in General Dynamics were worth $845,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Richardson Financial Services Inc. bought a new position in General Dynamics in the 4th quarter valued at about $25,000. Redmont Wealth Advisors LLC bought a new stake in shares of General Dynamics during the first quarter worth $25,000. Financial Synergies Wealth Advisors Inc. bought a new stake in shares of General Dynamics during the first quarter worth $29,000. New Covenant Trust Company N.A. bought a new stake in shares of General Dynamics in the first quarter worth $29,000. Finally, American Capital Advisory LLC bought a new stake in shares of General Dynamics in the second quarter worth $29,000. 86.14% of the stock is owned by institutional investors and hedge funds.

General Dynamics Price Performance

NYSE GD traded up $1.05 on Friday, hitting $300.66. The stock had a trading volume of 877,409 shares, compared to its average volume of 1,101,439. General Dynamics Co. has a 52-week low of $214.53 and a 52-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. The company has a market capitalization of $82.49 billion, a price-to-earnings ratio of 24.52, a price-to-earnings-growth ratio of 1.68 and a beta of 0.61. The firm has a 50-day moving average of $297.27 and a 200-day moving average of $292.93.

General Dynamics (NYSE:GD) last posted its earnings results 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). The firm had revenue of $11.98 billion during the quarter, compared to analysts’ expectations of $11.46 billion. General Dynamics had a return on equity of 16.74% and a net margin of 7.89%. The business’s revenue for the quarter was up 18.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.70 earnings per share. Equities analysts expect 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 given a dividend of $1.42 per share. This represents a $5.68 annualized dividend and a dividend yield of 1.89%. The ex-dividend date is Friday, October 11th. General Dynamics’s dividend payout ratio (DPR) is currently 46.33%.

Insider Activity

In related news, Director Peter A. Wall sold 1,320 shares of the 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 of the company’s stock, valued at approximately $1,106,515.60. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.52% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. BTIG Research assumed coverage on shares of General Dynamics in a report on Wednesday, June 26th. They issued a “buy” rating and a $345.00 target price on the stock. Robert W. Baird reaffirmed 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 reduced their price objective on shares of General Dynamics from $320.00 to $314.00 and set a “hold” rating for the company in a research report on Thursday. Wells Fargo & Company downgraded shares of General Dynamics from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $334.00 to $317.00 in a research report on Tuesday. Finally, Morgan Stanley raised shares of General Dynamics from an “equal weight” rating to an “overweight” rating and upped their price objective 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 twelve have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $317.06.

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.