Longview Asset Management LLC Has $8.15 Billion Stock Position in General Dynamics Co. (NYSE:GD)

Longview Asset Management LLC lowered its position in shares of General Dynamics Co. (NYSE:GD) by 0.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 28,097,732 shares of the aerospace company’s stock after selling 509 shares during the quarter. General Dynamics comprises 96.5% of Longview Asset Management LLC’s investment portfolio, making the stock its biggest holding. Longview Asset Management LLC owned about 10.24% of General Dynamics worth $8,152,276,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of GD. Richardson Financial Services Inc. bought a new stake in shares of General Dynamics in the 4th quarter valued at $25,000. Redmont Wealth Advisors LLC bought a new stake in General Dynamics in the first quarter valued at $25,000. Financial Synergies Wealth Advisors Inc. acquired a new position in shares of General Dynamics during the first quarter valued at about $29,000. New Covenant Trust Company N.A. bought a new position in shares of General Dynamics during the 1st quarter worth about $29,000. Finally, American Capital Advisory LLC acquired a new stake in shares of General Dynamics in the 2nd quarter valued at about $29,000. 86.14% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at General Dynamics

In related news, Director Peter A. Wall sold 1,320 shares of General Dynamics stock in a transaction dated 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 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 legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 1.52% of the company’s stock.

General Dynamics Stock Up 0.8 %

Shares of NYSE:GD opened at $304.77 on Friday. The business has a fifty day moving average price of $294.33 and a two-hundred day moving average price of $290.74. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.33 and a quick ratio of 0.80. The company has a market capitalization of $83.62 billion, a PE ratio of 24.86, a price-to-earnings-growth ratio of 1.64 and a beta of 0.61. General Dynamics Co. has a 1 year low of $214.53 and a 1 year high of $309.97.

General Dynamics (NYSE:GD) last released its earnings results on Wednesday, July 24th. The aerospace company reported $3.26 earnings per share 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 company had revenue of $11.98 billion during the quarter, compared to analysts’ expectations of $11.46 billion. During the same quarter in the previous year, the firm earned $2.70 earnings per share. The firm’s revenue was up 18.0% compared to the same quarter last year. Analysts forecast that General Dynamics Co. will post 14.52 earnings per share for the current year.

General Dynamics Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, October 11th will be given a $1.42 dividend. This represents a $5.68 dividend on an annualized basis and a yield of 1.86%. The ex-dividend date is Friday, October 11th. General Dynamics’s dividend payout ratio is currently 46.33%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Wells Fargo & Company increased their price target on General Dynamics from $330.00 to $334.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. 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. Sanford C. Bernstein upped their price objective on shares of General Dynamics from $290.00 to $302.00 and gave the stock a “market perform” rating in a report on Thursday, May 23rd. Morgan Stanley upgraded shares of General Dynamics from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $293.00 to $345.00 in a report on Friday, August 9th. Finally, Barclays upped their target price on shares of General Dynamics from $310.00 to $325.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. Six analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average 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.