Sompo Asset Management Co. Ltd. Reduces Position in General Dynamics Co. (NYSE:GD)

Sompo Asset Management Co. Ltd. reduced its holdings in General Dynamics Co. (NYSE:GD) by 6.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,660 shares of the aerospace company’s stock after selling 380 shares during the period. Sompo Asset Management Co. Ltd.’s holdings in General Dynamics were worth $1,642,000 as of its most recent filing with the Securities and Exchange Commission.

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

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Barclays upped their price target on General Dynamics from $310.00 to $325.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. 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 note on Friday, August 9th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of General Dynamics in a research report on Monday, July 29th. Royal Bank of Canada restated an “outperform” rating and set a $320.00 price target on shares of General Dynamics in a research note on Thursday, July 25th. Finally, BTIG Research initiated coverage on General Dynamics in a research note on Wednesday, June 26th. They issued a “buy” rating and a $345.00 price objective for the company. Six equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $315.06.

General Dynamics Trading Up 0.7 %

Shares of General Dynamics stock opened at $306.87 on Friday. The company’s fifty day moving average is $294.79 and its two-hundred day moving average is $290.97. General Dynamics Co. has a 1 year low of $214.53 and a 1 year high of $309.97. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.80 and a current ratio of 1.33. The company has a market capitalization of $84.19 billion, a P/E ratio of 25.03, a PEG ratio of 1.64 and a beta of 0.61.

General Dynamics (NYSE:GD) last released its quarterly earnings results 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). The company had revenue of $11.98 billion for the quarter, compared to analysts’ expectations of $11.46 billion. General Dynamics had a return on equity of 16.74% and a net margin of 7.89%. The business’s quarterly revenue was up 18.0% compared to the same quarter last year. During the same period in the prior year, the business earned $2.70 EPS. Analysts forecast that General Dynamics Co. will post 14.52 earnings per share for the current year.

General Dynamics Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 11th will be paid a dividend of $1.42 per share. The ex-dividend date of this dividend is Friday, October 11th. This represents a $5.68 dividend on an annualized basis and a dividend yield of 1.85%. General Dynamics’s dividend payout ratio (DPR) is 46.33%.

Insider Buying and Selling at General Dynamics

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 transaction of $406,626.00. Following the transaction, the director now directly owns 3,592 shares of the company’s stock, valued at approximately $1,106,515.60. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.52% of the stock is owned by corporate insiders.

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.