Global Retirement Partners LLC Reduces Stock Position in General Dynamics Co. (NYSE:GD)

Global Retirement Partners LLC lessened its holdings in shares of General Dynamics Co. (NYSE:GD) by 1.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,849 shares of the aerospace company’s stock after selling 33 shares during the period. Global Retirement Partners LLC’s holdings in General Dynamics were worth $559,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of GD. Massachusetts Financial Services Co. MA raised its holdings in shares of 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 acquiring an additional 293,316 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in 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 worth $1,351,041,000 after purchasing an additional 115,063 shares in the last quarter. Ameriprise Financial Inc. lifted its position in shares of General Dynamics by 2.4% in the 2nd 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 during the period. Boston Partners boosted its stake in shares of General Dynamics by 1.4% during the 1st quarter. Boston Partners now owns 1,680,666 shares of the aerospace company’s stock valued at $474,927,000 after purchasing an additional 23,262 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of 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 buying an additional 23,304 shares during the period. Institutional investors own 86.14% of the company’s stock.

General Dynamics Stock Performance

NYSE GD opened at $308.48 on Monday. The business has a 50-day moving average price of $299.34 and a 200-day moving average price of $294.30. The firm has a market cap of $84.64 billion, a price-to-earnings ratio of 25.16, a price-to-earnings-growth ratio of 1.67 and a beta of 0.61. General Dynamics Co. has a twelve month low of $232.29 and a twelve month high of $310.58. 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 (NYSE:GD) last released its earnings results on Wednesday, July 24th. The aerospace company reported $3.26 EPS for the quarter, missing the consensus estimate of $3.30 by ($0.04). General Dynamics had a return on equity of 16.74% and a net margin of 7.89%. The company had revenue of $11.98 billion during the quarter, compared to analysts’ expectations of $11.46 billion. During the same period last year, the firm posted $2.70 EPS. General Dynamics’s quarterly revenue was up 18.0% compared to the same quarter last year. As a group, equities research analysts predict that General Dynamics Co. will post 14.38 EPS for the current fiscal year.

General Dynamics Announces Dividend

The firm also recently announced 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 1.84%. The ex-dividend date is Friday, October 11th. General Dynamics’s dividend payout ratio is 46.33%.

Insider Activity

In other news, Director Peter A. Wall sold 1,320 shares of General Dynamics stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $308.05, for a total value of $406,626.00. Following the completion of the transaction, the director now owns 3,592 shares in the company, valued at approximately $1,106,515.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.52% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Morgan Stanley upgraded General Dynamics from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $293.00 to $345.00 in a research report on Friday, August 9th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of General Dynamics from $320.00 to $314.00 and set a “hold” rating on the stock in a report on Thursday, October 3rd. Susquehanna increased their price target on shares of General Dynamics from $333.00 to $352.00 and gave the stock a “positive” rating in a research note on Thursday. Royal Bank of Canada reissued an “outperform” rating and set a $320.00 price objective on shares of General Dynamics in a research note on Thursday, July 25th. Finally, Wells Fargo & Company cut shares of General Dynamics from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $334.00 to $317.00 in a report on Tuesday, October 1st. Seven investment 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 company. According to data from MarketBeat, General Dynamics presently has an average rating of “Moderate Buy” and a consensus target price of $320.18.

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.