Essex LLC Sells 84 Shares of General Dynamics Co. (NYSE:GD)

Essex LLC decreased its stake in shares of General Dynamics Co. (NYSE:GD) by 0.6% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 13,390 shares of the aerospace company’s stock after selling 84 shares during the period. General Dynamics accounts for about 0.8% of Essex LLC’s holdings, making the stock its 29th largest position. Essex LLC’s holdings in General Dynamics were worth $4,046,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the stock. Redmont Wealth Advisors LLC acquired a new position in General Dynamics during the 1st quarter worth $25,000. Financial Synergies Wealth Advisors Inc. acquired a new position in shares of General Dynamics during the 1st quarter worth about $29,000. New Covenant Trust Company N.A. bought a new stake in General Dynamics during the 1st quarter valued at approximately $29,000. American Capital Advisory LLC bought a new position in General Dynamics in the 2nd quarter worth approximately $29,000. Finally, Lowe Wealth Advisors LLC acquired a new position in shares of General Dynamics during the third quarter worth approximately $30,000. 86.14% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on GD shares. Wells Fargo & Company downgraded shares of General Dynamics from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $334.00 to $317.00 in a research note on Tuesday, October 1st. Royal Bank of Canada restated an “outperform” rating and issued a $320.00 price target on shares of General Dynamics in a research report on Thursday, July 25th. BTIG Research initiated coverage on shares of General Dynamics in a research report on Wednesday, June 26th. They set a “buy” rating and a $345.00 price objective for the company. Susquehanna lifted their target price on General Dynamics from $333.00 to $352.00 and gave the stock a “positive” rating in a research report on Thursday. Finally, Seaport Res Ptn downgraded General Dynamics from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 11th. 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 company’s stock. According to MarketBeat, General Dynamics has an average rating of “Moderate Buy” and an average target price of $320.18.

General Dynamics Trading Up 0.1 %

Shares of GD stock opened at $308.48 on Friday. 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 capitalization of $84.64 billion, a P/E ratio of 25.16, a P/E/G ratio of 1.67 and a beta of 0.61. General Dynamics Co. has a 12-month low of $232.29 and a 12-month high of $310.58. The firm has a 50-day moving average price of $299.34 and a 200 day moving average price of $294.29.

General Dynamics (NYSE:GD) last posted its earnings results 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). The firm 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 business’s revenue was up 18.0% on a year-over-year basis. During the same quarter last year, the firm posted $2.70 EPS. Research analysts forecast that General Dynamics Co. will post 14.38 earnings per share for the current fiscal year.

General Dynamics Dividend Announcement

The firm also recently announced 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. The ex-dividend date is Friday, October 11th. This represents a $5.68 dividend on an annualized basis and a dividend yield of 1.84%. General Dynamics’s dividend payout ratio (DPR) is presently 46.33%.

Insider Activity at General Dynamics

In other General Dynamics news, Director Peter A. Wall sold 1,320 shares of the 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 sale, the director now owns 3,592 shares of the company’s stock, valued at $1,106,515.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.52% of the stock is currently owned by company insiders.

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.