Asset Dedication LLC Sells 66 Shares of General Dynamics Co. (NYSE:GD)

Asset Dedication LLC lessened its holdings in General Dynamics Co. (NYSE:GD) by 1.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,031 shares of the aerospace company’s stock after selling 66 shares during the period. Asset Dedication LLC’s holdings in General Dynamics were worth $1,521,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA boosted 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 worth $2,216,599,000 after acquiring an additional 293,316 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in General Dynamics by 2.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,782,612 shares of the aerospace company’s stock valued at $1,351,041,000 after purchasing an additional 115,063 shares during the period. Ameriprise Financial Inc. grew its holdings in General Dynamics by 2.4% in the 2nd quarter. Ameriprise Financial Inc. now owns 2,071,803 shares of the aerospace company’s stock valued at $601,756,000 after buying an additional 47,915 shares in the last quarter. Boston Partners increased its position in General Dynamics by 1.4% during the 1st quarter. Boston Partners now owns 1,680,666 shares of the aerospace company’s stock worth $474,927,000 after buying an additional 23,262 shares during the period. Finally, Bank of New York Mellon Corp lifted its holdings in shares of General Dynamics by 1.5% during the second quarter. Bank of New York Mellon Corp now owns 1,606,289 shares of the aerospace company’s stock worth $466,049,000 after buying an additional 23,304 shares in the last quarter. Institutional investors and hedge funds own 86.14% of the company’s stock.

General Dynamics Stock Up 1.6 %

Shares of NYSE GD opened at $304.87 on Thursday. The stock has a 50-day moving average price of $298.68 and a two-hundred day moving average price of $294.04. General Dynamics Co. has a 12 month low of $232.29 and a 12 month high of $309.97. 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 company has a market cap of $83.65 billion, a price-to-earnings ratio of 24.87, a PEG ratio of 1.67 and a beta of 0.61.

General Dynamics (NYSE:GD) last released its quarterly earnings data 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 company had revenue of $11.98 billion for 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%. General Dynamics’s revenue for the quarter was up 18.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.70 earnings per share. As a group, analysts forecast that General Dynamics Co. will post 14.38 earnings per share for the current fiscal year.

General Dynamics Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, October 11th will be issued 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 payout ratio is presently 46.33%.

Insider Buying and Selling at General Dynamics

In other news, Director Peter A. Wall sold 1,320 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $308.05, for a total value of $406,626.00. Following the completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 1.52% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on GD. Robert W. Baird restated an “outperform” rating and issued a $345.00 price target on shares of General Dynamics in a research note on Tuesday, July 2nd. BTIG Research assumed coverage on shares of General Dynamics in a research report on Wednesday, June 26th. They set a “buy” rating and a $345.00 target price on the stock. Citigroup lifted 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, October 10th. Morgan Stanley raised General Dynamics from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $293.00 to $345.00 in a research report on Friday, August 9th. Finally, Seaport Res Ptn cut General Dynamics from a “strong-buy” rating to a “hold” rating in a report on Friday, October 11th. Seven research 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 company has a consensus rating of “Moderate Buy” and a consensus target price of $319.06.

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.