Professional Advisory Services Inc. Has $22.36 Million Holdings in General Dynamics Co. (NYSE:GD)

Professional Advisory Services Inc. reduced its stake in shares of General Dynamics Co. (NYSE:GD) by 2.5% in the 3rd quarter, Holdings Channel.com reports. The firm owned 73,998 shares of the aerospace company’s stock after selling 1,903 shares during the quarter. General Dynamics makes up 2.9% of Professional Advisory Services Inc.’s holdings, making the stock its 14th largest holding. Professional Advisory Services Inc.’s holdings in General Dynamics were worth $22,362,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently bought and sold shares of GD. Redmont Wealth Advisors LLC acquired a new position in shares of General Dynamics in the 1st quarter valued at $25,000. Financial Synergies Wealth Advisors Inc. acquired a new position in shares of General Dynamics in the 1st quarter valued at $29,000. New Covenant Trust Company N.A. acquired a new position in shares of General Dynamics in the 1st quarter valued at $29,000. American Capital Advisory LLC acquired a new position in shares of General Dynamics in the 2nd quarter valued at $29,000. Finally, Lowe Wealth Advisors LLC acquired a new position in shares of General Dynamics in the 3rd quarter valued at $30,000. 86.14% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

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 shares were 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. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.52% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on GD shares. Royal Bank of Canada restated an “outperform” rating and issued a $320.00 price objective on shares of General Dynamics in a research note on Thursday, July 25th. Seaport Res Ptn cut shares of General Dynamics from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 11th. Wells Fargo & Company cut shares of General Dynamics from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $334.00 to $317.00 in a research report on Tuesday, October 1st. Robert W. Baird reiterated an “outperform” rating and set a $345.00 target price on shares of General Dynamics in a research report on Tuesday, July 2nd. Finally, Citigroup increased their target price on shares of General Dynamics from $331.00 to $354.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Seven equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, General Dynamics presently has an average rating of “Moderate Buy” and a consensus price target of $320.18.

General Dynamics Stock Down 0.1 %

Shares of NYSE GD opened at $307.79 on Friday. The firm has a market capitalization of $84.45 billion, a PE ratio of 25.15, 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. General Dynamics Co. has a 1 year low of $232.29 and a 1 year high of $309.97. The firm’s 50-day moving average is $299.03 and its 200-day moving average is $294.14.

General Dynamics (NYSE:GD) last issued its earnings results 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 business had revenue of $11.98 billion during the quarter, compared to the consensus estimate of $11.46 billion. General Dynamics had a net margin of 7.89% and a return on equity of 16.74%. The firm’s revenue for the quarter was up 18.0% compared to the same quarter last year. During the same period last year, the business posted $2.70 EPS. Equities analysts expect that General Dynamics Co. will post 14.38 EPS for the current year.

General Dynamics Dividend Announcement

The company also recently disclosed 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 1.85%. The ex-dividend date is Friday, October 11th. General Dynamics’s payout ratio is 46.33%.

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.