Mutual of America Capital Management LLC Cuts Holdings in General Dynamics Co. (NYSE:GD)

Mutual of America Capital Management LLC cut its position in shares of General Dynamics Co. (NYSE:GD) by 3.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 28,638 shares of the aerospace company’s stock after selling 1,097 shares during the quarter. Mutual of America Capital Management LLC’s holdings in General Dynamics were worth $8,309,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA boosted its holdings 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 worth $2,216,599,000 after purchasing an additional 293,316 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in General Dynamics by 2.5% during the first 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 during the last quarter. Sanders Capital LLC boosted its stake in General Dynamics by 3.7% in the fourth quarter. Sanders Capital LLC now owns 4,164,857 shares of the aerospace company’s stock valued at $1,081,488,000 after acquiring an additional 147,800 shares during the last quarter. Northern Trust Corp boosted its stake in General Dynamics by 1.1% in the fourth quarter. Northern Trust Corp now owns 2,282,757 shares of the aerospace company’s stock valued at $592,764,000 after acquiring an additional 24,395 shares during the last quarter. Finally, Boston Partners boosted its stake in General Dynamics by 1.4% in the first quarter. Boston Partners now owns 1,680,666 shares of the aerospace company’s stock valued at $474,927,000 after acquiring an additional 23,262 shares during the last quarter. 86.14% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

GD has been the topic of a number of research analyst reports. Wells Fargo & Company boosted their target price on shares of General Dynamics from $330.00 to $334.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. Morgan Stanley raised shares of General Dynamics from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $293.00 to $345.00 in a research report on Friday, August 9th. Robert W. Baird reissued an “outperform” rating and issued a $345.00 price target on shares of General Dynamics in a research report on Tuesday, July 2nd. Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of General Dynamics in a research report on Monday, July 29th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $320.00 price target on shares of General Dynamics in a research report on Thursday, July 25th. Six analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $315.06.

General Dynamics Price Performance

Shares of NYSE:GD opened at $302.40 on Thursday. The company’s fifty day moving average price is $293.92 and its 200-day moving average price is $290.64. The firm has a market capitalization of $82.97 billion, a price-to-earnings ratio of 24.67, a PEG ratio of 1.64 and a beta of 0.61. General Dynamics Co. has a one year low of $214.53 and a one year high of $309.97. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.33 and a quick ratio of 0.80.

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 analysts’ consensus estimates 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 period last year, the company posted $2.70 EPS. General Dynamics’s revenue for the quarter was up 18.0% on a year-over-year basis. On average, equities research analysts anticipate that General Dynamics Co. will post 14.52 earnings per share for the current fiscal year.

General Dynamics Dividend Announcement

The firm 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 $1.42 dividend. The ex-dividend date is Friday, October 11th. This represents a $5.68 dividend on an annualized basis and a dividend yield of 1.88%. General Dynamics’s dividend payout ratio (DPR) is 46.33%.

Insider Activity

In other news, Director Peter A. Wall sold 1,320 shares of the company’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $308.05, for a total value of $406,626.00. Following the completion of the sale, the director now 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 is available through the SEC website. 1.52% of the stock is owned by corporate insiders.

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.