General Dynamics Co. (NYSE:GD) Position Trimmed by Bfsg LLC

Bfsg LLC trimmed its position in shares of General Dynamics Co. (NYSE:GD) by 1.1% in the 3rd quarter, Holdings Channel.com reports. The fund owned 21,612 shares of the aerospace company’s stock after selling 235 shares during the quarter. Bfsg LLC’s holdings in General Dynamics were worth $6,531,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. 1832 Asset Management L.P. boosted its stake in shares of General Dynamics by 2,189.3% during the 2nd quarter. 1832 Asset Management L.P. now owns 374,207 shares of the aerospace company’s stock worth $108,572,000 after acquiring an additional 357,861 shares in the last quarter. Public Employees Retirement Association of Colorado increased its holdings in 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 buying an additional 305,624 shares during the period. Massachusetts Financial Services Co. MA raised its position in 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 purchasing an additional 293,316 shares in the last quarter. Hsbc Holdings PLC lifted 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 buying an additional 262,164 shares during the period. Finally, Westwood Holdings Group Inc. lifted its holdings in shares of General Dynamics by 174.8% during the second quarter. Westwood Holdings Group Inc. now owns 384,151 shares of the aerospace company’s stock valued at $111,458,000 after acquiring an additional 244,373 shares during the period. 86.14% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have weighed in on GD shares. Robert W. Baird reaffirmed an “outperform” rating and set a $345.00 price objective on shares of General Dynamics in a research note on Tuesday, July 2nd. Morgan Stanley raised General Dynamics from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $293.00 to $345.00 in a report on Friday, August 9th. BTIG Research began coverage on General Dynamics in a research note on Wednesday, June 26th. They issued a “buy” rating and a $345.00 price objective on the stock. Seaport Res Ptn cut General Dynamics from a “strong-buy” rating to a “hold” rating in a report on Friday, October 11th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $320.00 price objective on shares of General Dynamics in a report on Thursday, July 25th. Seven analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, General Dynamics presently has a consensus rating of “Moderate Buy” and a consensus price target of $319.06.

General Dynamics Stock Performance

GD stock opened at $304.87 on Thursday. The firm has a market cap of $83.65 billion, a PE ratio of 24.87, a price-to-earnings-growth ratio of 1.67 and a beta of 0.61. The company has a current ratio of 1.33, a quick ratio of 0.80 and a debt-to-equity ratio of 0.33. The stock has a 50-day moving average price of $298.68 and a 200-day moving average price of $294.04. General Dynamics Co. has a 1-year low of $232.29 and a 1-year high of $309.97.

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 analyst estimates of $11.46 billion. General Dynamics had a return on equity of 16.74% and a net margin of 7.89%. The company’s revenue for the quarter was up 18.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.70 earnings per share. As a group, equities research analysts expect that General Dynamics Co. will post 14.38 earnings per share for the current year.

General Dynamics Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, October 11th will be given a $1.42 dividend. The ex-dividend date is Friday, October 11th. This represents a $5.68 annualized dividend and a yield of 1.86%. General Dynamics’s payout ratio is 46.33%.

Insider Buying and Selling at General Dynamics

In related news, Director Peter A. Wall sold 1,320 shares of General Dynamics stock in a transaction that occurred 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 transaction, the director now 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 filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.52% of the company’s stock.

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.