General Dynamics Co. (NYSE:GD) Shares Sold by Ensign Peak Advisors Inc

Ensign Peak Advisors Inc decreased its position in General Dynamics Co. (NYSE:GD) by 3.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 40,786 shares of the aerospace company’s stock after selling 1,665 shares during the quarter. Ensign Peak Advisors Inc’s holdings in General Dynamics were worth $11,834,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in GD. Redmont Wealth Advisors LLC bought a new stake in General Dynamics during the first quarter valued at $25,000. Richardson Financial Services Inc. bought a new stake in shares of General Dynamics during the 4th quarter valued at about $25,000. American Capital Advisory LLC acquired a new stake in General Dynamics during the second quarter worth about $29,000. Financial Synergies Wealth Advisors Inc. bought a new position in General Dynamics in the first quarter worth about $29,000. Finally, New Covenant Trust Company N.A. acquired a new position in General Dynamics in the first quarter valued at approximately $29,000. 86.14% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at General Dynamics

In other news, Director Peter A. Wall sold 1,320 shares of the business’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $308.05, for a total transaction of $406,626.00. Following the sale, the director now directly owns 3,592 shares of the company’s stock, valued at $1,106,515.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.52% of the company’s stock.

General Dynamics Trading Up 0.4 %

Shares of GD stock opened at $308.09 on Tuesday. The company has a quick ratio of 0.80, a current ratio of 1.33 and a debt-to-equity ratio of 0.33. The stock has a 50-day simple moving average of $295.24 and a 200 day simple moving average of $291.46. General Dynamics Co. has a fifty-two week low of $214.53 and a fifty-two week high of $309.97. The stock has a market capitalization of $84.53 billion, a P/E ratio of 25.13, a P/E/G ratio of 1.64 and a beta of 0.61.

General Dynamics (NYSE:GD) last announced its quarterly earnings data on Wednesday, July 24th. The aerospace company reported $3.26 earnings per share (EPS) for the quarter, missing the consensus estimate 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 during the quarter, compared to analyst estimates of $11.46 billion. During the same period in the prior year, the firm earned $2.70 EPS. The business’s revenue for the quarter was up 18.0% on a year-over-year basis. On average, sell-side analysts expect that General Dynamics Co. will post 14.52 earnings per share for the current fiscal 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. The ex-dividend date is Friday, October 11th. This represents a $5.68 dividend on an annualized basis and a dividend yield of 1.84%. General Dynamics’s dividend payout ratio (DPR) is presently 46.33%.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Wells Fargo & Company increased their price target on General Dynamics from $330.00 to $334.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. BTIG Research began coverage on General Dynamics in a research note on Wednesday, June 26th. They issued a “buy” rating and a $345.00 target price on the stock. Robert W. Baird restated an “outperform” rating and set a $345.00 price target on shares of General Dynamics in a research report on Tuesday, July 2nd. Royal Bank of Canada reiterated an “outperform” rating and issued a $320.00 price objective on shares of General Dynamics in a research report on Thursday, July 25th. Finally, 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 report on Tuesday, July 30th. Six equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $315.06.

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.