General Dynamics Co. (NYSE:GD) Shares Sold by Wealth Advisors of Tampa Bay LLC

Wealth Advisors of Tampa Bay LLC reduced its stake in General Dynamics Co. (NYSE:GD) by 0.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,443 shares of the aerospace company’s stock after selling 70 shares during the period. Wealth Advisors of Tampa Bay LLC’s holdings in General Dynamics were worth $2,450,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. 1832 Asset Management L.P. boosted its position in shares of General Dynamics by 3,645.4% during the 4th quarter. 1832 Asset Management L.P. now owns 558,586 shares of the aerospace company’s stock valued at $145,048,000 after purchasing an additional 543,672 shares in the last quarter. Public Employees Retirement Association of Colorado lifted its position in shares of General Dynamics by 879.9% during the 1st quarter. Public Employees Retirement Association of Colorado now owns 340,359 shares of the aerospace company’s stock valued at $96,148,000 after acquiring an additional 305,624 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of General Dynamics by 4.0% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 7,639,758 shares of the aerospace company’s stock worth $2,216,599,000 after acquiring an additional 293,316 shares in the last quarter. Hsbc Holdings PLC grew its holdings in shares of General Dynamics by 24.2% in the 2nd quarter. Hsbc Holdings PLC now owns 1,347,247 shares of the aerospace company’s stock worth $391,119,000 after acquiring an additional 262,164 shares during the last quarter. Finally, Junto Capital Management LP acquired a new stake in shares of General Dynamics during the fourth quarter worth $43,733,000. 86.14% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other General Dynamics news, Director Peter A. Wall sold 1,320 shares of the company’s 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 of the company’s stock, valued at approximately $1,106,515.60. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.52% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of brokerages recently weighed in on GD. Barclays lifted their price target on General Dynamics from $310.00 to $325.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. Sanford C. Bernstein lifted their target price on shares of General Dynamics from $290.00 to $302.00 and gave the stock a “market perform” rating in a research report on Thursday, May 23rd. Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of General Dynamics in a research report on Monday, July 29th. BTIG Research assumed coverage on shares of General Dynamics in a research report on Wednesday, June 26th. They issued a “buy” rating and a $345.00 target price for the company. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $320.00 price objective on shares of General Dynamics in a report on Thursday, July 25th. Six investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $315.06.

General Dynamics Price Performance

NYSE GD opened at $304.77 on Friday. The stock has a 50-day simple moving average of $294.33 and a 200 day simple moving average of $290.74. General Dynamics Co. has a twelve month low of $214.53 and a twelve month high of $309.97. The stock has a market capitalization of $83.62 billion, a PE ratio of 24.86, a P/E/G ratio of 1.64 and a beta of 0.61. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.80 and a current ratio of 1.33.

General Dynamics (NYSE:GD) last issued its quarterly earnings results on Wednesday, July 24th. The aerospace company reported $3.26 EPS for the quarter, missing analysts’ consensus estimates of $3.30 by ($0.04). General Dynamics had a return on equity of 16.74% and a net margin of 7.89%. The business had revenue of $11.98 billion for the quarter, compared to analyst estimates of $11.46 billion. During the same quarter last year, the firm earned $2.70 earnings per share. The firm’s quarterly revenue was up 18.0% compared to the same quarter last year. Research analysts anticipate 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 dividend on an annualized basis and a dividend yield of 1.86%. The ex-dividend date is Friday, October 11th. General Dynamics’s dividend payout ratio is currently 46.33%.

About General Dynamics

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.