General Dynamics Co. (NYSE:GD) Stake Lessened by Fulton Breakefield Broenniman LLC

Fulton Breakefield Broenniman LLC trimmed its stake in shares of General Dynamics Co. (NYSE:GD) by 0.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 42,234 shares of the aerospace company’s stock after selling 169 shares during the quarter. Fulton Breakefield Broenniman LLC’s holdings in General Dynamics were worth $12,763,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Redmont Wealth Advisors LLC acquired a new stake in shares of General Dynamics during the 1st quarter valued at approximately $25,000. Financial Synergies Wealth Advisors Inc. bought a new stake in General Dynamics during the first quarter valued at $29,000. New Covenant Trust Company N.A. acquired a new stake in shares of General Dynamics during the first quarter worth $29,000. American Capital Advisory LLC bought a new position in shares of General Dynamics in the 2nd quarter worth about $29,000. Finally, Lowe Wealth Advisors LLC acquired a new position in shares of General Dynamics in the 3rd quarter valued at about $30,000. 86.14% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Peter A. Wall sold 1,320 shares of the business’s stock in a transaction 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 sale, the director now directly 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 document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 1.52% of the company’s stock.

General Dynamics Trading Up 1.6 %

Shares of GD stock opened at $304.87 on Thursday. The stock has a 50-day simple moving average of $298.68 and a 200 day simple moving average of $294.04. The stock has a market capitalization of $83.65 billion, a P/E ratio of 24.87, a P/E/G ratio of 1.67 and a beta of 0.61. General Dynamics Co. has a fifty-two week low of $232.29 and a fifty-two week high of $309.97. 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 posted its quarterly earnings data on Wednesday, July 24th. The aerospace company reported $3.26 earnings per share for the quarter, missing the consensus estimate of $3.30 by ($0.04). General Dynamics had a net margin of 7.89% and a return on equity of 16.74%. The business had revenue of $11.98 billion for the quarter, compared to the consensus estimate of $11.46 billion. During the same quarter last year, the business posted $2.70 EPS. The business’s revenue for the quarter was up 18.0% on a year-over-year basis. On average, sell-side analysts expect that General Dynamics Co. will post 14.38 earnings per share for the current fiscal year.

General Dynamics Dividend Announcement

The business also recently declared 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 annualized dividend and a dividend yield of 1.86%. General Dynamics’s dividend payout ratio is currently 46.33%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Barclays raised their target price on shares of General Dynamics from $310.00 to $325.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. TD Cowen raised General Dynamics to a “strong-buy” rating in a report on Tuesday, October 8th. Deutsche Bank Aktiengesellschaft lowered their price objective on General Dynamics from $320.00 to $314.00 and set a “hold” rating for the company in a research note on Thursday, October 3rd. Royal Bank of Canada reiterated an “outperform” rating and issued a $320.00 target price on shares of General Dynamics in a research note on Thursday, July 25th. Finally, Morgan Stanley upgraded shares of General Dynamics from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $293.00 to $345.00 in a research report on Friday, August 9th. Seven investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, General Dynamics has an average rating of “Moderate Buy” and a consensus target price of $319.06.

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.