Weaver C. Barksdale & Associates Inc. Lowers Stake in General Dynamics Co. (NYSE:GD)

Weaver C. Barksdale & Associates Inc. decreased its position in shares of General Dynamics Co. (NYSE:GD) by 1.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,119 shares of the aerospace company’s stock after selling 141 shares during the period. General Dynamics comprises 2.2% of Weaver C. Barksdale & Associates Inc.’s holdings, making the stock its 6th largest holding. Weaver C. Barksdale & Associates Inc.’s holdings in General Dynamics were worth $2,356,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Richardson Financial Services Inc. bought a new position in shares of General Dynamics during the fourth quarter worth about $25,000. Redmont Wealth Advisors LLC bought a new stake in General Dynamics during the 1st quarter valued at $25,000. Financial Synergies Wealth Advisors Inc. acquired a new position in General Dynamics during the 1st quarter valued at about $29,000. New Covenant Trust Company N.A. bought a new stake in General Dynamics during the first quarter worth $29,000. Finally, American Capital Advisory LLC purchased a new stake in shares of General Dynamics in the second quarter valued at about $29,000. Institutional investors own 86.14% of the company’s stock.

General Dynamics Trading Up 0.8 %

General Dynamics stock opened at $304.77 on Friday. The company has a market capitalization of $83.62 billion, a price-to-earnings ratio of 24.86, a price-to-earnings-growth ratio of 1.64 and a beta of 0.61. General Dynamics Co. has a 52 week low of $214.53 and a 52 week high of $309.97. The stock has a 50-day moving average price of $294.33 and a 200 day moving average price of $290.74. 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 announced its quarterly earnings results on Wednesday, July 24th. The aerospace company reported $3.26 earnings per share for the quarter, missing the consensus estimate 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 quarter in the prior year, the firm earned $2.70 EPS. General Dynamics’s revenue for the quarter was up 18.0% on a year-over-year basis. Sell-side analysts anticipate that General Dynamics Co. will post 14.52 EPS 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 paid a dividend of $1.42 per share. This represents a $5.68 dividend on an annualized basis and a yield of 1.86%. The ex-dividend date of this dividend is Friday, October 11th. General Dynamics’s dividend payout ratio (DPR) is presently 46.33%.

Analysts Set New Price Targets

Several research firms recently weighed in on GD. Royal Bank of Canada restated an “outperform” rating and set a $320.00 price target on shares of General Dynamics in a research report on Thursday, July 25th. Robert W. Baird reiterated an “outperform” rating and set a $345.00 price target on shares of General Dynamics in a research report on Tuesday, July 2nd. Wells Fargo & Company upped their target price on General Dynamics from $330.00 to $334.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of General Dynamics in a report on Monday, July 29th. Finally, BTIG Research assumed coverage on shares of General Dynamics in a research note on Wednesday, June 26th. They set a “buy” rating and a $345.00 price target on the stock. Six analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, General Dynamics has an average rating of “Moderate Buy” and a consensus price target of $315.06.

Insider Buying and Selling

In other General Dynamics news, Director Peter A. Wall sold 1,320 shares of the firm’s stock in a transaction that occurred 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 transaction, 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 accessible through this link. 1.52% of the stock is currently owned by company 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.