Profund Advisors LLC Decreases Stake in General Dynamics Co. (NYSE:GD)

Profund Advisors LLC trimmed its position in General Dynamics Co. (NYSE:GD) by 1.4% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,568 shares of the aerospace company’s stock after selling 49 shares during the period. Profund Advisors LLC’s holdings in General Dynamics were worth $1,035,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. 1832 Asset Management L.P. boosted its position in General Dynamics by 3,645.4% in the fourth quarter. 1832 Asset Management L.P. now owns 558,586 shares of the aerospace company’s stock valued at $145,048,000 after buying an additional 543,672 shares during the last quarter. Public Employees Retirement Association of Colorado boosted its holdings in shares of General Dynamics by 879.9% in the 1st quarter. Public Employees Retirement Association of Colorado now owns 340,359 shares of the aerospace company’s stock valued at $96,148,000 after acquiring an additional 305,624 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in shares of General Dynamics by 4.0% in the second quarter. Massachusetts Financial Services Co. MA now owns 7,639,758 shares of the aerospace company’s stock worth $2,216,599,000 after acquiring an additional 293,316 shares during the period. Hsbc Holdings PLC raised its holdings in shares of General Dynamics by 24.2% during the second quarter. Hsbc Holdings PLC now owns 1,347,247 shares of the aerospace company’s stock worth $391,119,000 after purchasing an additional 262,164 shares during the last quarter. Finally, Westwood Holdings Group Inc. boosted its holdings in General Dynamics by 174.8% in the second quarter. Westwood Holdings Group Inc. now owns 384,151 shares of the aerospace company’s stock valued at $111,458,000 after purchasing an additional 244,373 shares during the last quarter. Hedge funds and other institutional investors own 86.14% of the company’s stock.

Insider Buying and Selling at General Dynamics

In other General Dynamics news, Director Peter A. Wall sold 1,320 shares of the stock in a transaction that occurred 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 sale, the director now directly owns 3,592 shares in the company, valued at approximately $1,106,515.60. The transaction was disclosed in a document filed with the SEC, which is available through this link. 1.52% of the stock is currently owned by corporate insiders.

General Dynamics Trading Up 0.4 %

Shares of General Dynamics stock opened at $308.09 on Tuesday. The stock has a 50 day moving average of $295.24 and a 200 day moving average of $291.46. 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 firm has a market capitalization of $84.53 billion, a price-to-earnings ratio of 25.13, a PEG ratio of 1.64 and a beta of 0.61. General Dynamics Co. has a fifty-two week low of $214.53 and a fifty-two week high of $309.97.

General Dynamics (NYSE:GD) last issued its quarterly earnings data 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). 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 for the quarter, compared to analyst estimates of $11.46 billion. During the same period in the previous year, the business posted $2.70 earnings per share. The firm’s revenue for the quarter was up 18.0% compared to the same quarter last year. As a group, research analysts predict that General Dynamics Co. will post 14.52 earnings per share for the current year.

General Dynamics Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, October 11th will be paid a dividend of $1.42 per share. This represents a $5.68 annualized dividend and a yield of 1.84%. The ex-dividend date of this dividend is Friday, October 11th. General Dynamics’s payout ratio is 46.33%.

Analysts Set New Price Targets

Several brokerages recently weighed in on GD. 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. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of General Dynamics in a research note on Monday, July 29th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $320.00 price objective on shares of General Dynamics in a report on Thursday, July 25th. Barclays increased their price target on General Dynamics from $310.00 to $325.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. Finally, 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. Six equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $315.06.

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.