Thrivent Financial for Lutherans Sells 102,377 Shares of General Dynamics Co. (NYSE:GD)

Thrivent Financial for Lutherans lessened its stake in General Dynamics Co. (NYSE:GD) by 21.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 384,682 shares of the aerospace company’s stock after selling 102,377 shares during the quarter. Thrivent Financial for Lutherans owned approximately 0.14% of General Dynamics worth $111,612,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the company. Richardson Financial Services Inc. purchased a new stake in General Dynamics in the 4th quarter worth about $25,000. Redmont Wealth Advisors LLC purchased a new position in shares of General Dynamics in the first quarter valued at $25,000. Financial Synergies Wealth Advisors Inc. bought a new position in General Dynamics in the 1st quarter worth about $29,000. New Covenant Trust Company N.A. purchased a new position in General Dynamics during the 1st quarter valued at about $29,000. Finally, American Capital Advisory LLC purchased a new stake in shares of General Dynamics in the second quarter worth about $29,000. Hedge funds and other institutional investors own 86.14% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on GD. Royal Bank of Canada reaffirmed an “outperform” rating and set a $320.00 price objective on shares of General Dynamics in a research note on Thursday, July 25th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of General Dynamics in a research note on Monday, July 29th. Barclays raised their price target on General Dynamics from $310.00 to $325.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. Robert W. Baird restated an “outperform” rating and issued a $345.00 price objective on shares of General Dynamics in a research report on Tuesday, July 2nd. Finally, BTIG Research began coverage on shares of General Dynamics in a research report on Wednesday, June 26th. They set a “buy” rating and a $345.00 target price for the company. Six equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $315.06.

Insiders Place Their Bets

In related news, Director Peter A. Wall sold 1,320 shares of the business’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $308.05, for a total transaction of $406,626.00. Following the sale, the director now owns 3,592 shares of the company’s stock, valued at $1,106,515.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.52% of the stock is owned by corporate insiders.

General Dynamics Trading Up 0.7 %

GD opened at $306.87 on Friday. The firm has a market capitalization of $84.19 billion, a price-to-earnings ratio of 25.03, 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 business has a 50 day simple moving average of $294.79 and a two-hundred day simple moving average of $290.97. 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 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). The company had revenue of $11.98 billion for the quarter, compared to the consensus estimate of $11.46 billion. General Dynamics had a net margin of 7.89% and a return on equity of 16.74%. The company’s revenue for the quarter was up 18.0% on a year-over-year basis. During the same period in the previous year, the firm posted $2.70 EPS. Analysts predict that General Dynamics Co. will post 14.52 EPS for the current year.

General Dynamics Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, October 11th will be paid a $1.42 dividend. The ex-dividend date of this dividend is Friday, October 11th. This represents a $5.68 annualized dividend and a yield of 1.85%. General Dynamics’s payout ratio is 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.