Kesler Norman & Wride LLC Sells 1,365 Shares of General Dynamics Co. (NYSE:GD)

Kesler Norman & Wride LLC reduced its stake in General Dynamics Co. (NYSE:GD) by 5.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,381 shares of the aerospace company’s stock after selling 1,365 shares during the period. General Dynamics accounts for 1.4% of Kesler Norman & Wride LLC’s holdings, making the stock its 16th biggest holding. Kesler Norman & Wride LLC’s holdings in General Dynamics were worth $7,369,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also added to or reduced their stakes in the company. Redmont Wealth Advisors LLC bought a new position in General Dynamics in the 1st quarter worth about $25,000. Richardson Financial Services Inc. purchased a new stake in shares of General Dynamics in the 4th quarter worth approximately $25,000. American Capital Advisory LLC purchased a new stake in shares of General Dynamics in the 2nd quarter worth approximately $29,000. Lowe Wealth Advisors LLC purchased a new stake in shares of General Dynamics in the 3rd quarter worth approximately $30,000. Finally, Financial Synergies Wealth Advisors Inc. purchased a new stake in shares of General Dynamics in the 1st quarter worth approximately $29,000. 86.14% of the stock is currently owned by institutional investors.

General Dynamics Stock Performance

GD opened at $297.29 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 company has a market cap of $81.57 billion, a price-to-earnings ratio of 24.25, a PEG ratio of 1.68 and a beta of 0.61. General Dynamics Co. has a 52-week low of $228.50 and a 52-week high of $309.97. The firm’s fifty day simple moving average is $297.27 and its two-hundred day simple moving average is $293.09.

General Dynamics (NYSE:GD) last posted 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). The company had revenue of $11.98 billion for the quarter, compared to analysts’ expectations of $11.46 billion. General Dynamics had a net margin of 7.89% and a return on equity of 16.74%. The business’s revenue for the quarter was up 18.0% on a year-over-year basis. During the same period in the previous year, the business earned $2.70 earnings per share. Equities analysts anticipate that General Dynamics Co. will post 14.52 earnings per share for the current fiscal year.

General Dynamics Announces Dividend

The firm 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 $1.42 dividend. This represents a $5.68 annualized dividend and a dividend yield of 1.91%. The ex-dividend date of this dividend is Friday, October 11th. General Dynamics’s dividend payout ratio is currently 46.33%.

Insider Transactions at General Dynamics

In other General Dynamics news, Director Peter A. Wall sold 1,320 shares of General Dynamics 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 of the company’s stock, valued at $1,106,515.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.52% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on GD. Wells Fargo & Company cut shares of General Dynamics from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $334.00 to $317.00 in a research report on Tuesday, October 1st. Barclays upped their price target 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. BTIG Research assumed 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. Deutsche Bank Aktiengesellschaft decreased their target price on shares of General Dynamics from $320.00 to $314.00 and set a “hold” rating for the company in a research report on Thursday, October 3rd. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $320.00 target price on shares of General Dynamics in a research report on Thursday, July 25th. Six equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $317.06.

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.