Sei Investments Co. Cuts Stock Position in General Dynamics Co. (NYSE:GD)

Sei Investments Co. reduced its position in General Dynamics Co. (NYSE:GD) by 5.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 239,156 shares of the aerospace company’s stock after selling 14,179 shares during the quarter. Sei Investments Co. owned approximately 0.09% of General Dynamics worth $69,385,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. Gladstone Capital Management LLP acquired a new stake in General Dynamics during the 4th quarter worth approximately $3,869,000. SWP Financial LLC purchased a new position in General Dynamics in the fourth quarter valued at $227,000. Sanibel Captiva Trust Company Inc. acquired a new position in General Dynamics during the 4th quarter worth $28,107,000. Evercore Wealth Management LLC raised its position in General Dynamics by 1.5% in the 4th quarter. Evercore Wealth Management LLC now owns 5,355 shares of the aerospace company’s stock valued at $1,391,000 after purchasing an additional 78 shares in the last quarter. Finally, TD Asset Management Inc boosted its stake in shares of General Dynamics by 7.2% in the 4th quarter. TD Asset Management Inc now owns 80,280 shares of the aerospace company’s stock valued at $20,846,000 after buying an additional 5,405 shares during the period. Institutional investors and hedge funds own 86.14% of the company’s stock.

Insider Transactions at General Dynamics

In other 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 transaction, the director now directly owns 3,592 shares in the company, valued at $1,106,515.60. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 1.52% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on GD shares. 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 research note on Tuesday, July 30th. Royal Bank of Canada reissued an “outperform” rating and issued a $320.00 price objective on shares of General Dynamics in a research report on Thursday, July 25th. Robert W. Baird reaffirmed an “outperform” rating and set a $345.00 price objective on shares of General Dynamics in a research report on Tuesday, July 2nd. BTIG Research began coverage on General Dynamics in a report on Wednesday, June 26th. They issued a “buy” rating and a $345.00 target price on the stock. Finally, Wells Fargo & Company lifted 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. Six analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $315.06.

General Dynamics Stock Performance

NYSE GD opened at $306.87 on Friday. The firm has a market cap of $84.19 billion, a P/E ratio of 25.03, a P/E/G 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 business’s 50-day moving average price is $294.79 and its 200 day moving average price is $291.09. 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 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 company had revenue of $11.98 billion during the quarter, compared to analysts’ expectations of $11.46 billion. During the same quarter last year, the business posted $2.70 earnings per share. The company’s revenue for the quarter was up 18.0% compared to the same quarter last year. On average, equities research analysts expect that General Dynamics Co. will post 14.52 earnings per share for the current year.

General Dynamics Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, October 11th will be given 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 yield of 1.85%. General Dynamics’s 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.