General Dynamics Co. (NYSE:GD) Stake Cut by FSC Wealth Advisors LLC

FSC Wealth Advisors LLC cut its position in shares of General Dynamics Co. (NYSE:GD) by 34.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 440 shares of the aerospace company’s stock after selling 230 shares during the quarter. FSC Wealth Advisors LLC’s holdings in General Dynamics were worth $133,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. 1832 Asset Management L.P. lifted its stake in General Dynamics by 2,189.3% in the second quarter. 1832 Asset Management L.P. now owns 374,207 shares of the aerospace company’s stock valued at $108,572,000 after buying an additional 357,861 shares during the last quarter. Public Employees Retirement Association of Colorado lifted 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 buying an additional 305,624 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake 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 valued at $2,216,599,000 after buying an additional 293,316 shares during the last quarter. Hsbc Holdings PLC lifted its stake in General Dynamics by 24.2% in the second quarter. Hsbc Holdings PLC now owns 1,347,247 shares of the aerospace company’s stock valued at $391,119,000 after buying an additional 262,164 shares during the last quarter. Finally, Westwood Holdings Group Inc. lifted its stake in General Dynamics by 174.8% in the second 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 during the last quarter. 86.14% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Peter A. Wall sold 1,320 shares of General Dynamics stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $308.05, for a total value of $406,626.00. Following the transaction, the director now owns 3,592 shares of the company’s stock, valued at approximately $1,106,515.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.52% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have issued reports on GD shares. Morgan Stanley upgraded General Dynamics from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $293.00 to $345.00 in a research note on Friday, August 9th. TD Cowen raised General Dynamics to a “strong-buy” rating in a report on Tuesday, October 8th. Royal Bank of Canada reissued an “outperform” rating and set a $320.00 price target on shares of General Dynamics in a report on Thursday, July 25th. Wells Fargo & Company lowered General Dynamics from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $334.00 to $317.00 in a report on Tuesday, October 1st. Finally, Robert W. Baird reissued an “outperform” rating and set a $345.00 price target on shares of General Dynamics in a report on Tuesday, July 2nd. Seven 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. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $320.18.

General Dynamics Price Performance

NYSE:GD opened at $305.92 on Wednesday. The business’s 50-day moving average price is $299.96 and its 200 day moving average price is $294.48. The firm has a market cap of $83.93 billion, a P/E ratio of 24.95, a PEG ratio of 1.67 and a beta of 0.61. General Dynamics Co. has a 52-week low of $232.29 and a 52-week high of $310.85. 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 issued its quarterly earnings results on Wednesday, July 24th. The aerospace company reported $3.26 earnings per share 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 analysts’ expectations 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 period in the prior year, the business posted $2.70 EPS. As a group, sell-side analysts predict that General Dynamics Co. will post 14.38 earnings per share for the current fiscal year.

General Dynamics Announces Dividend

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

General Dynamics Company 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.