General Dynamics Co. (NYSE:GD) Position Reduced by USA Financial Formulas

USA Financial Formulas reduced its position in General Dynamics Co. (NYSE:GD) by 28.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,669 shares of the aerospace company’s stock after selling 1,064 shares during the period. USA Financial Formulas’ holdings in General Dynamics were worth $807,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Massachusetts Financial Services Co. MA raised its position in General Dynamics by 4.0% during the second quarter. Massachusetts Financial Services Co. MA now owns 7,639,758 shares of the aerospace company’s stock valued at $2,216,599,000 after buying an additional 293,316 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in shares of General Dynamics by 2.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,782,612 shares of the aerospace company’s stock valued at $1,351,041,000 after purchasing an additional 115,063 shares during the period. Ameriprise Financial Inc. lifted its position in shares of General Dynamics by 2.4% in the second quarter. Ameriprise Financial Inc. now owns 2,071,803 shares of the aerospace company’s stock worth $601,756,000 after purchasing an additional 47,915 shares in the last quarter. Boston Partners boosted its holdings in shares of General Dynamics by 1.4% during the first quarter. Boston Partners now owns 1,680,666 shares of the aerospace company’s stock worth $474,927,000 after purchasing an additional 23,262 shares during the period. Finally, Bank of New York Mellon Corp grew its position in General Dynamics by 1.5% during the second quarter. Bank of New York Mellon Corp now owns 1,606,289 shares of the aerospace company’s stock valued at $466,049,000 after purchasing an additional 23,304 shares in the last quarter. Institutional investors and hedge funds own 86.14% of the company’s stock.

General Dynamics Price Performance

Shares of NYSE:GD opened at $298.69 on Thursday. The company has a market cap of $81.95 billion, a price-to-earnings ratio of 24.36, a PEG ratio of 1.68 and a beta of 0.61. The business has a 50 day moving average price of $297.51 and a 200 day moving average price of $293.36. 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 $232.29 and a twelve month high of $309.97.

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). The company had revenue of $11.98 billion during the quarter, compared to analyst estimates of $11.46 billion. General Dynamics had a return on equity of 16.74% and a net margin of 7.89%. The company’s revenue was up 18.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.70 EPS. Research analysts predict that General Dynamics Co. will post 14.52 earnings per share for the current year.

General Dynamics Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, October 11th will be paid a $1.42 dividend. This represents a $5.68 annualized dividend and a dividend yield of 1.90%. The ex-dividend date of this dividend is Friday, October 11th. General Dynamics’s payout ratio is presently 46.33%.

Insider Activity at General Dynamics

In other General Dynamics 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 sale, the director now owns 3,592 shares in the company, valued at $1,106,515.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.52% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Barclays increased their target price on shares of General Dynamics from $310.00 to $325.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. 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 objective for the company. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $320.00 target price on shares of General Dynamics in a research report on Thursday, July 25th. TD Cowen upgraded General Dynamics to a “strong-buy” rating in a report on Tuesday. Finally, Morgan Stanley upgraded General Dynamics from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $293.00 to $345.00 in a report on Friday, August 9th. Six research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $317.06.

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.