Cwm LLC Sells 3,002 Shares of General Dynamics Co. (NYSE:GD)

Cwm LLC cut its position in General Dynamics Co. (NYSE:GD) by 4.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 69,174 shares of the aerospace company’s stock after selling 3,002 shares during the quarter. Cwm LLC’s holdings in General Dynamics were worth $20,905,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the company. 1832 Asset Management L.P. increased its stake in shares of General Dynamics by 2,189.3% in the 2nd quarter. 1832 Asset Management L.P. now owns 374,207 shares of the aerospace company’s stock valued at $108,572,000 after acquiring an additional 357,861 shares in the last quarter. Public Employees Retirement Association of Colorado increased its stake in General Dynamics by 879.9% in the first quarter. Public Employees Retirement Association of Colorado now owns 340,359 shares of the aerospace company’s stock valued at $96,148,000 after purchasing an additional 305,624 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of General Dynamics by 4.0% during the second quarter. Massachusetts Financial Services Co. MA now owns 7,639,758 shares of the aerospace company’s stock valued at $2,216,599,000 after purchasing an additional 293,316 shares during the period. Hsbc Holdings PLC boosted its position in shares of General Dynamics by 24.2% during the 2nd 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 in the last quarter. Finally, Westwood Holdings Group Inc. increased its position in General Dynamics by 174.8% in the 2nd quarter. Westwood Holdings Group Inc. now owns 384,151 shares of the aerospace company’s stock valued at $111,458,000 after buying an additional 244,373 shares in the last quarter. 86.14% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Peter A. Wall sold 1,320 shares of the business’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 completion of the transaction, the director now directly owns 3,592 shares in the company, valued at $1,106,515.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.52% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on GD. Wells Fargo & Company lowered General Dynamics from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $334.00 to $317.00 in a research report on Tuesday, October 1st. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $320.00 price objective on shares of General Dynamics in a research note on Thursday, July 25th. Robert W. Baird reissued an “outperform” rating and set a $345.00 target price on shares of General Dynamics in a research report on Tuesday, July 2nd. Citigroup raised their price target on shares of General Dynamics from $331.00 to $354.00 and gave the company a “buy” rating in a research report on Thursday. Finally, Barclays boosted their price objective on General Dynamics from $310.00 to $325.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. Six analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $319.06.

General Dynamics Price Performance

Shares of NYSE:GD opened at $296.09 on Friday. The company has a 50-day moving average price of $297.51 and a two-hundred day moving average price of $293.36. The firm has a market capitalization of $81.24 billion, a PE ratio of 24.15, a P/E/G ratio of 1.68 and a beta of 0.61. General Dynamics Co. has a twelve month low of $232.29 and a twelve month high of $309.97. 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 posted its quarterly earnings results on Wednesday, July 24th. The aerospace company reported $3.26 EPS for the quarter, missing analysts’ consensus estimates of $3.30 by ($0.04). The company had revenue of $11.98 billion during the quarter, compared to the consensus estimate of $11.46 billion. General Dynamics had a return on equity of 16.74% and a net margin of 7.89%. General Dynamics’s revenue 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 forecast that General Dynamics Co. will post 14.52 EPS 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 issued a $1.42 dividend. This represents a $5.68 dividend on an annualized basis and a dividend yield of 1.92%. The ex-dividend date is Friday, October 11th. General Dynamics’s payout ratio is 46.33%.

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.